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

in million US$, in %

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
AOV: Average Order Value CVR: Conversion Rate