E-commerce in CV shrank in ‘22

CEBU , Philippines —  Central Visayas experienced a slight decline in sales from e-commerce transactions in 2022, the Philippine Statistics Authority (PSA)-7 reported.

The 2022 Annual Survey of Philippine Business and Industry projected a 22.9% decrease from ?4.94 billion generated in 2021 to ?3.81 billion in 2022.

PSA-7 chief statistical specialist Engr. Leopoldo Alfanta Jr., said that the survey covered 4,108 establishments that were made respondents in their survey across the region.

Cebu had the highest number of establishments with 3,063, followed by Bohol with 447, Negros Oriental with 454, and 54 in Siquijor.

E-commerce refers to the sale or purchase of goods or services, whether between businesses, households, individuals, government, and other public or private organizations, conducted over the internet.

“The goods or services are ordered online, but the payment and the ultimate delivery of goods or services can be done either offline or online,” said Alfanta.

On a national level, the Philippines experienced a different trend, with e-commerce sales rising to ?159.26 billion in 2022. This represents a 2% increase compared to the ?156.15 billion recorded in 2021.

The services sector in Central Visayas accounted for the largest share of e-commerce sales in 2022 that generated ?3.77 billion, or 99% of the region’s total e-commerce transactions.

This was then followed by the industry sector which contributed a total of ?0.04 billion, or 1%, of total e-commerce sales in the region.

Among the various sectors, the top three contributors to e-commerce sales in Central Visayas in 2022 were administrative and support service activities, which led with ?3.05 billion, representing 80% of the total e-commerce sales in the region; accommodation and food service activities, which generated ?0.38 billion or 9.9% of total sales; and financial and insurance activities, contributing ?0.24 billion or 6.3% of the region’s total transactions.

Alfanta also reported the e-commerce performance in terms of employment groupings.

Large establishments led the way, generating ?3.04 billion, or 79.9% of the region’s total e-commerce sales while small establishments accounted for ?0.41 billion, or 10.6% of total e-commerce sales in 2022.

Micro establishments, on the other hand, which are typically smaller, more localized businesses, contributed the least to e-commerce sales, generating only ?0.02 billion, or 0.5% of the total.