eCommerce market in Sri Lanka
Sri Lanka is the 60th largest market for eCommerce with a predicted revenue of US$2,737.5 million by 2023, placing it ahead of Slovakia. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 15.6%, resulting in a projected market volume of US$4,886.6 million by 2027. With an expected increase of 20.2% in 2023, the Sri Lankan eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Sri Lanka, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Sri Lankan eCommerce market. Food & Personal Care is the largest market and accounts for 34.7% of the Sri Lankan eCommerce revenue. It is followed by Electronics & Media with 24.3%, Fashion with 22.5%, Furniture & Appliances with 11.1%, and Toys, Hobby & DIY with the remaining 7.5%.
Market development
eCommerce revenue development in Sri Lanka
Sri Lanka is the 60th largest market for eCommerce with a predicted revenue of US$2,737.5 million by 2023, placing it ahead of Slovakia. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 15.6%, resulting in a projected market volume of US$4,886.6 million by 2027. With an expected increase of 20.2% in 2023, the Sri Lankan eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Sri Lanka, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Sri Lankan eCommerce market. Food & Personal Care is the largest market and accounts for 34.7% of the Sri Lankan eCommerce revenue. It is followed by Electronics & Media with 24.3%, Fashion with 22.5%, Furniture & Appliances with 11.1%, and Toys, Hobby & DIY with the remaining 7.5%.
eCommerce revenue development in Sri Lanka
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 59.2 | 78.5 | 32.3 | 24.6 | 55.7 | 12.1 | 12.6 | 75.2 |
| AOV (in US$) | 13.4 | 32.7 | 13.6 | 2.7 | 61.4 | 60.7 | 95.5 | 36.8 |
| CVR (in %) | 59.2 | 78.5 | 32.3 | 24.6 | 55.7 | 12.1 | 12.6 | 75.2 |
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