17 million Vietnamese products sold on Amazon in 2023

he number of Vietnamese products sold on Amazon soared by 300% in the previous five years to 17 million in 2023.

The value of the goods exported through the U.S. e-commerce platform increased by 50% during the period, Trinh Khac Toan, northern regional director of Amazon Global Selling Vietnam, which supports sellers, said at a forum Thursday.

The number of Vietnamese sellers with annual sales of $1 million increased 10-fold between 2019 and 2023, while those who have legitimized their brands through the Amazon Brand Registry program increased by 35 times, he noted.

The figures demonstrate the astonishing potential of cross-border e-commerce, he said.

Amazon Global Selling forecasts cross-border e-commerce in Vietnam and Southeast Asia to grow at 20% annually until 2026.

Bui Trung Kien, vice chairman of the Vietnam E-Commerce Association, said developing cross-border e-commerce is crucial to boosting Vietnam’s exports.

But the country’s legal framework for businesses could pose a hurdle to this, he warned.

Cao Cam Linh, a representative of the Vietnam Association for Logistics Manpower Development, said logistics need to be developed to support e-commerce.

Toan said online businesses need to invest in market research to identify customer needs, improve their products and build their own brands with a long-term vision.

In Vietnam, Amazon has collaborated with the E-commerce and Digital Economy Agency to train 10,000 people for the cross-border e-commerce industry.