Sales of online goods between countries are set to triple over the next five years to be worth USD307bn. The figure, which comes from a report commissioned by PayPal, represents a jump from USD105bn this year in cross-border e-commerce between Australia, Brazil, China, Germany, the UK and the US.
The report found that last year a quarter of all marketplace revenue and more than half of payments processed by PayPal came from international transactions. With figures set to rise, PayPal has been upping its cross boarder promotion in emerging markets, focussing on China as a particular area for further growth.
The US was the top exporter, with 45% of those surveyed saying they bought goods from there, followed by the UK with 37%. China was the biggest destination for US goods, with 84% of Chinese online consumers asked buying from the region. Clothes and shoes are expected to remain the most popular items, followed by beauty products and consumer electronics devices.