UNCTAD: World witnesses rapid increase in e-commerce, records USD 22trillion
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UNCTAD: World witnesses rapid increase in e-commerce, records USD 22trillion

Like any complex system, the digital transformation of our economies and societies requires a multiplicity of moving parts.

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UNCTAD: World witnesses rapid increase in e-commerce, records USD 22trillion

Like any complex system, the digital transformation of our economies and societies requires a multiplicity of moving parts.

22 August 2017 Tuesday 18:18
UNCTAD: World witnesses rapid increase in e-commerce, records USD 22trillion

By Azania Post Reporter

THE global e-commerce has increased from USD 16 trillion in 2013 to USD 22trillion in 2015, the United Nations Conference on Trade and Development (UNCTAD) has said.

According to UN agency’s Secretary Mukhisa Kituyi, recent years they have witnessed a rapid growth in electronic commerce as both consumers and enterprises go online to find what they need.

“At UNCTAD, we estimate that global e-commerce grew from $16 trillion in 2013 to $22 trillion in 2015, at a time when world production and trade grew very slowly”, he said.

The trend is set to continue in the coming years. Digitalization will further transform what we do and how we do things. The rise of robots, automation, the emergence of completely new products, services and business models such as Uber and Airbnb, self-driving cars, smart grids and many more will create opportunities for entrepreneurs and businesses as well as bringing massive consumer benefits.

At the same time, this trend will disrupt existing practices in many areas, expose incumbents to competition, change the skill requirements of workers and lead to the loss of jobs in countries and sectors.

With a few swipes on a smartphone or clicks on a computer, these days many of us choose and purchase a wealth of goods and services without giving it a second thought. This is how the best technology works - so simple and easy to use that not so long ago it would have seemed like magic.

But those of us concerned with improving the lives of people in developing countries know that there are systems behind the sorcery: policy systems that enable and reward innovation; economic systems that allow raw materials, components and finished goods to flow across borders; financial systems that secure investments and payments; regulatory and legal systems protecting workers and consumers.

Like any complex system, the digital transformation of our economies and societies requires a multiplicity of moving parts.

The international community has a responsibility to promote more effective collaboration between these moving parts to avoid widening the divides between those positioned to reap the rewards of technological change and those that risk being left behind.

 Like previous large-scale economic transitions the benefits will be immense, but they will not materialize through a smooth, cost-free process.

The effects will differ between countries, industries and people, depending on their ability to adapt and respond to the new digital economy. This increases the need for all countries, enterprises and people to carefully consider what actions to take in order to prepare as best as possible.

In the context of the 2030 Agenda for Sustainable Development, it is our common responsibility in the United Nations and other international organizations to provide the necessary support to those countries that are less equipped to face this transformation.

As we look toward how technology can be harnessed to achieve the Sustainable Development Goals, the case of e-commerce provides a case in point. What does this transformative method of trade offer?

The UNCTAD-led eTrade for All initiative raises awareness of opportunities, challenges and solutions related to e-commerce in developing countries, mobilizes financial and human resources for e-commerce projects in developing countries; and strengthens coherence and synergies among partners' activities.

The main tool is an online platform, which can help developing countries and donors navigate the supply of technical and financial support available to foster e-commerce and digital trade, learn about trends and best practices, and to raise visibility for the various partners' initiatives and resources. The platform was officially launched in April 2017 during the UNCTAD E-Commerce Week in Geneva.

More than 20 national and international organizations had joined the initiative as of February and we expect the group to expand during 2017. Some 25 private sector entities have also joined the Business for eTrade Development initiative, which helps public-private dialogue.

To make e-commerce a vehicle for sustainable development we need to connect the dots. There is a need to bring all relevant stakeholders together - as opposed to continuing our bad habit of working in silos - and to work simultaneously across different policy areas.

Azania Post

Updated: 22.08.2017 18:24
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