eCommerce market in Sri Lanka
Sri Lanka is the 54th largest market for eCommerce with a predicted revenue of US$2,409.5 million by 2024, placing it ahead of Algeria. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 5.4%, resulting in a projected market volume of US$2,976.7 million by 2028. With an expected increase of 11.5% in 2024, the Sri Lankan eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Sri Lanka, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Sri Lankan eCommerce market. Electronics is the largest market and accounts for 24.4% of the Sri Lankan eCommerce revenue. It is followed by Hobby & Leisure with 19.9%, Fashion with 18.9%, Furniture & Homeware with 11.8%, Grocery with 9.8%, Care Products with 8.0%, and DIY with the remaining 7.1%.
Market development
eCommerce revenue development in Sri Lanka
Sri Lanka is the 54th largest market for eCommerce with a predicted revenue of US$2,409.5 million by 2024, placing it ahead of Algeria. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 5.4%, resulting in a projected market volume of US$2,976.7 million by 2028. With an expected increase of 11.5% in 2024, the Sri Lankan eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Sri Lanka, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Sri Lankan eCommerce market. Electronics is the largest market and accounts for 24.4% of the Sri Lankan eCommerce revenue. It is followed by Hobby & Leisure with 19.9%, Fashion with 18.9%, Furniture & Homeware with 11.8%, Grocery with 9.8%, Care Products with 8.0%, and DIY with the remaining 7.1%.
eCommerce revenue development in Sri Lanka
eCommerce revenue growth in Sri Lanka
Net eCommerce revenue split by sub-category
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Growth (in %) | 19.3 | 44.4 | 34.9 | 35.6 | 7.4 | 19.8 | 38.5 | 90.8 |
Market comparison
The Sri Lankan eCommerce market in a global comparison
Market comparison by growth, online share, and revenue in 2023
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