Bank Indonesia Believes Shopee Cs Transactions To Reach IDR 395 Trillion This Year: Equivalent To 2.5 Percent Of GDP

An e-commerce courier is seen crossing in front of a commercial sign (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) projects that the total value of e-commerce transactions this year will reach IDR 395 trillion. This figure is equivalent to 2.5 percent of the 2020 gross domestic product (GDP) which was recorded at Rp. 15,434 trillion.

The total spending book on the online buying and selling site is based on the achievements of the first semester of 2021 which amounted to IDR 186.75 trillion, or grew 63.36 percent compared to the same period 2020.

BI Governor Perry Warjiyo said his party continued to accelerate the digitization of the payment system to accelerate the digital financial economy in order to support the national economic recovery.

"Economic transactions and digital finance grew high in line with the increasing expectations and preferences of the public for online shopping, the expansion and convenience of digital payment systems, as well as the acceleration of digital banking," he said in a press statement as quoted on Sunday, July 25.

Meanwhile, several leading e-commerce companies in the country include Shopee, Tokopedia, Bukalapak, Lazada, Blibli, and JD.ID.

Meanwhile, the value of electronic money transactions (EU) in the first and second quarters of 2021 increased 41.01 percent year-on-year (yoy) to reach Rp132.03 trillion, and is projected to grow 35.7 percent (yoy) to reach Rp278 trillion for the whole year 2021.

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Similarly, the value of digital banking transactions in the first half shot up 39.39 percent (yoy) to Rp17,901.76 trillion, and is projected to increase 30.1 percent (yoy) to reach Rp35,600 trillion for this year.

"Bank Indonesia continues to accelerate the implementation of payment system policies in order to encourage the acceleration of economic and financial digitization that is inclusive and efficient, including increasing transactions and expanding QR Code Indonesian Standard (QRIS) merchants, distributing government social assistance, and strengthening the payment system industry ecosystem. Perry.

On the cash side, currency in circulation (UYD) in June 2021 reached Rp832.4 trillion, an increase of 11.74 percent (yoy).

"Bank Indonesia continues to ensure the availability of rupiah currency to meet the money needs of the people throughout the territory of the Republic of Indonesia while still observing health protocols," concluded the BI Governor.