Global e-commerce volume expected to exceed $6.4T in 2024: Emirati minister

By Gokhan Ergocun

ISTANBUL (AA) - Global e-commerce sales are expected to surpass $6.4 trillion in 2024, the United Arab Emirates' minister of state for foreign trade said Wednesday.

Speaking at the WORLDEF Dubai 2024 forum, the world's largest digital commerce event, Thani bin Ahmed Al Zeyoudi said e-commerce has become a key driving force of the global economy.

Over the past 25 years, it has reshaped industries and redefined consumer experiences, he noted, according to a press release from the forum.

Al Zeyoudi said mobile consumers are expected to contribute $2 trillion to e-commerce sales in 2024.

With the projected figure of $6.5 trillion, 20% of all retail purchases will have been made online in 2024, he added.

"This is a clear reflection of how deeply digital trade has integrated into our lives, driven by near-universal internet use and mobile penetration," he said.

The two-day forum, which began Wednesday in Dubai, is bringing together over 5,000 visitors from more than 40 countries. Anadolu is the global communication partner of the event.

Tugay Tuncer, the ambassador of Türkiye to the UAE, highlighted the importance of the strong trade ties between the UAE and Türkiye at the event, noting the UAE’s status as Türkiye’s largest trading partner in the Gulf Cooperation Council (GCC).

He emphasized the need to enhance trade cooperation between the two nations, given that both are key regional business and aviation hubs.