05/12/2023

E-commerce and Internet shopping is increasingly popular

National Bank of Serbia (NBS) and Governor’s Office issued an information about e-commerce growth increase trend in Serbia, compared to previous year.

A significant increase in the number (+27.72%) and value (+35.86%) of Serbian citizens’ dinar (RSD) transactions via internet websites in the Q3-2023 compared to the same period last year indicates that the popularity of e-commerce or purchasing goods and services via the internet, cards and electronic money continues to grow, as reported by NBS.
Viewed in absolute terms, the total number of such transactions in the third quarter was 10 million RSD, and of that number, over 9.3 million purchases were made on the websites of local merchants, the value of which reached 27.3 billion dinar.When it comes to payments on foreign websites, if selected currencies are observed, the number of transactions in euros increased by +61.55% (2.7 million versus 1.7 million payments) compared to the Q3-2022, while their value increased by +43.61% (147.6 million versus 102.8 million euros).
Similarly, the number of online US dollar payments increased by +68.09% (1.8 million vs. 1.1 million payments), while their value increased by +36.86% (44.3 million vs. $32.4 million) compared to Q3-2022. The total number of transactions for the purchase of goods and services with cards and electronic money on the Internet in all currencies is 14.8 million, which is +36.72% more than in the third quarter of 2022.
The observed data indicate that the citizens of Serbia predominantly rather shop at domestic online stores and that the aforementioned upward trend continues year after year. Do note that the data set does not include purchases where payment was made by cash on delivery, given the fact that National Bank of Serbia does not have mentioned data. 

¹Source: National Bank of Serbia (NBS), Governor’s Office; research data published on December 5th, 2023.

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