Iran’s annual e-commerce at $19B
Tehran, Iran, October 16
By Mehdi Sepahvand –- Trend:
Iranians conducted commerce worth $19.3 billion electronically over the past year, the country’s ICT Minister Mahmud Vaezi told IRIB TV.
The global e-commerce value currently stands at $600 billion.
“We are holding talks with the Central Bank of Iran to operationalize electronic money and we hope to reach a clear operational view in two months,” Vaezi said elsewhere in his remarks.
In Iran the online market has expanded significantly over the last three years, Global Risk Insights recently reported.
Two politico-economic decisions have exerted enormous influence on the growth potential of the Iranian e-commerce sector, somewhat mitigating the risk of investing in the industry.
First, the introduction of an easily accessible 3G network in Iran has quickly accelerated widespread penetration of the internet.
Nevertheless, the Iranian e-commerce sector still lags roughly 25 years behind that of the US.
Second, Rouhani government’s agreement to the Joint Comprehensive Plan of Action (JCPOA) – or nuclear deal – has had an important impact on Iran’s internal business climate.