Economy
Posted: 1 month ago

E-commerce Shrinks by 17% in May

Amid the COVID-19 pandemic, the value of goods and services sold in the E-commerce platform has declined, instead of expected growth.

In May, Georgian citizens spent at least 260.4 million GEL on e-commerce transactions, down 55.1 million GEL compared to the same period of 2019 (-17.4%). In January-May 2020, total value of the internet operations declined by 101 million GEL (-7%) and amounted to 1.338 billion GEL.

According to the National Bank of Georgia (NBG), at POS terminals, trade outlets and service centers, the number of payments peaked in December 2019 and totaled 930 million GEL. In May 2020, this indicator amounted to 781.4million GEL, up 23.6% year on year.