Latin America: key markets e-retail growth 2023

Unlike the boom experienced during the COVID-19 pandemic in 2020, the e-commerce sector in Latin America took a hit from global economic instability in 2022. After a 1.7 percent decline that year, Argentina is forecast to be the region's fastest-growing market in online revenue in 2023, surpassing Brazil and Mexico.

Year-over-year change in retail e-commerce revenue in selected Latin American countries from 2020 to 2023

Characteristic	2020	2021	2022	2023
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Supplementary notes

The eCommerce market comprises the sale of physical goods via a digital channel to a private end consumer (B2C). This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.
The source does not provide data on Venezuela.

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