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Iran’s e-commerce market value at $60b in Q1
Head of Iran Center for e-Commerce Development said that total e-commerce trade recorded in the country in the year to March had reached 32,000 trillion rials considering the price of the US dollar was just more than 530,000 rials at the time, Press TV wrote.
Amid Kolahdouzan added that the figure was an increase of 74% compared to the year to March 2023, adding that Iran hopes its e-commerce market would expand by nearly the same rate this calendar year.
“The statistics reflect a rapid and forward-looking move in the country’s e-commerce eco-system,” Kolahdouzan said, while addressing the second edition of Iran Mobile Congress, an event dedicated to internet technologies and mobile applications.
He said that the e-commerce market value in Iran had more than tripled in the two years to late March, adding that the country seeks to hit a target of 90,000 rials in the sector in the next five years.
Iran has experienced a rapid rise in the use of domestic internet applications in recent years.
That has come amid tighter controls on access to foreign applications, including social media platforms based in the United States, which the Iranian government has blamed for spread of insecurity in the country in the past.
The fast spread of mobile internet has been key to the e-commerce success in Iran.
Iranian government figures released in late August showed that mobile internet penetration rate in the country had risen by 6.31% in the two years to late March.
The figures showed that high speed mobile internet had been available to more than 112 million customers in Iran in the quarter to late March, up 7.1% from figures reported in the same quarter in March 2022.