E-commerce in Latin America

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      <subfield code="a">In Latin America, as much as in the rest of the world, e-commerce has come to stay. In 2019, it is estimated that the region harbored 267.4 million digital buyers, a figure forecast to grow over 31 percent by 2024. Although the adoption of e-commerce in Latin America is still lower than in other emerging regions, online retail sales in this part of the world generated more than 70 billion U.S. dollars in 2019 and are expected to hit 116 billion by 2023. On a regional level, Brazil and Mexico compete for the spotlight, accounting for 32.5 percent and 28.8 percent of the Latin American e-commerce market, respectively. However, other economies such as Peru, Argentina and Colombia have been drawing increasing attention due to their swift growth.</subfield>
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