The latest report from e-commerce platform eBay revealed that 79% of eBay-enabled small and medium enterprises (SMEs) in the Philippines exported to 10 or more international markets in 2020, while the number of international market destinations for these small businesses averaged 32.
Based on the statistics from the Department of Trade and Industry (DTI), micro, small and medium enterprises (MSMEs) comprise more than 99% of all businesses in the country, over 60% of total employment (for a population of 110 million).
According to eBay, more than 95% of eBay-enabled businesses in Malaysia, the Philippines, and Singapore use eBay to reach global consumers.
“eBay’s primary focus in Southeast Asia is to enable SMEs to sell to the world — its marketplace offers 142 million active buyers across 3,000-plus product categories with market access to 190 countries,” said Vidmay Naini, country manager for Southeast Asia and India. “SMEs in the region have a wealth of inventory that global consumers want, and they need to differentiate and drive scale by exploring e-commerce export options.”
According to the report, the top five product categories SMEs in the Philippines exported were:
- Jewellery & Watches
- Cell Phones & Accessories
- Sporting Goods
- Collectibles and Business
- Office & Industrial products.
eBay’s Southeast Asia Small Online Business Trade Report 2022 showed 68% of eBay-enabled small businesses in the region exported to 10 or more international markets in 2020 which led to the growth of global retailers.
“The “Southeast Asia Small Online Business Trade Report 2022” highlights how SMEs in these countries are using the eBay e-commerce marketplace to successfully sell to international markets every year, adding a broad-based and resilient growth engine to the region’s rapidly expanding economies.
According to eBay, exporting to international markets and globalizing a business means navigating complex tax laws, managing sophisticated logistics arrangements, identifying customized methods of last-mile delivery, and very importantly, generating insights on markets and categories that are dynamically changing.
“eBay is capitalizing on the combined depth of our in-market teams and the global scale of eBay’s marketplace to help SMEs grow their business and meet the increasingly complex demands of global markets and consumers,” Naini said.
The “Southeast Asia Small Online Business Trade Report 2022” highlights how SMEs in these countries are using the eBay e-commerce marketplace to sell to international markets every year, adding a broad-based and resilient growth engine to the region’s rapidly expanding economies.