Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Risks And Benefits Of Data-Driven Economics In Focus Of Major United Nations Gathering

‘Most countries are ill prepared for the digital economy’ says UNCTAD Secretary-General Mariya Gabriel, Dinesh Agarwal and Amanda Long among speakers at UNCTAD’s E-Commerce Week, 16–20 April

Geneva, 28 March 2018 – The rapid digitalization of the world economy is raising profound and urgent questions that global decision-makers in governments, business and communities will gather to answer at UNCTAD’s E-Commerce Week, taking place at the Palais des Nations on 16–20 April 2018.

The E-Commerce Week takes the development dimensions of digital platforms – a key feature of the evolving digital world – as its theme this year. More than 1,000 participants are expected to take part in some 60 sessions, all of which are open to the media.

Confirmed speakers include:

  • Anusha Rahman, Minister of State of Information Technology and Telecommunication, Pakistan
  • Wilson Tarpeh, Minister for Commerce and Industry, Liberia
  • Pan Sorasak, Minister of Commerce, Cambodia
  • Amelia Kyambadde, Minister of Trade, Industry and Co-operatives, Uganda
  • Amani Abou-Zeid, Commissioner for Infrastructure, Energy, ICT and Tourism, African Union Commission
  • Mariya Gabriel, Commissioner, Digital Economy and Society, European Commission
  • Dinesh Agarwal, Founder and CEO, IndiaMART.com
  • Omobola Johnson, Senior Partner, TLcom Capital
  • Amanda Long, Director-General, Consumers International

The E-Commerce Week comes at an opportune time. The digital economy is evolving fast. For example, between 2012 and 2017, the number of monthly Facebook users surged from 1 billion to 2.2 billion – with the fastest growth happening in developing countries.

“The current debate about Facebook and data privacy vividly illustrates that most countries are ill prepared for the digital economy,” UNCTAD Secretary-General MukhisaKituyi said.

“Some 90% of all new users of the Internet over the past half-decade or so live in developing countries – but half of these countries currently lack legislation to protect their privacy.”

New estimates from UNCTAD suggest that global e-commerce reached almost $26 trillion in 2016 (chart 1). The United States remained by far the largest market, with combined e-commerce sales of some $7.6 trillion, with Japan ranked second some distance behind.

However, China is the leader in the business to consumer (B2C) segment. China and the United States accounted for just over half of all B2C sales in 2016. India in 2016 entered the top 10 e-commerce markets for the first time. B2C sales increased 14.5% in 2016 to $ 2.8 trillion. There were an estimated 1.4 billion online shoppers around the globe in 2016 (up by 11% over 2015), equivalent to 55% of all Internet users.

“We know that the digital economy can bring great benefits to developing countries, but we need to address some critical questions to ensure that digitalization leads to the future we want,” Dr. Kituyi said.

Key issues that will be debated during sessions include the development implications of the use of digital platforms in terms of: data privacy, competition, job creation and the sharing of benefits.

Questions include: What can policies do to make developments more inclusive and sustainable? What is needed to help countries that are currently lagging in eTrade readiness to catch up? How can digitalization support women’s economic empowerment?

New figures from the Global Survey of Internet Use Perceptions and on trade in digitally delivered services will be released by UNCTAD, the Centre for International Governance Innovation, the Internet Society and Ipsos at the start of E-Commerce Week on Monday 16 April.

In addition, new statistics on trade in digitally delivered services will be presented for Costa Rica and India on Monday 16 April.

E-Commerce Week sessions will look at consumer protection online, trade logistics in the digital era, digital identities, blockchain technologies, digital platforms and competition policies, trade policies and e-commerce, e-commerce developments in Africa and in South Asia, digital trade and industrialization, the role of regional banks in fostering gains from e-commerce, and much more.

The week will also feature the second session of the Intergovernmental Group of Experts on E-commerce and the Digital Economy as well as many sessions organized by and with eTrade for All partners covering a wide spectrum of topics.

UNCTAD’s E-Commerce Week, 16–20 April 2018

Palais des Nations, Geneva, Switzerland

Highlights of E-Commerce Week include:

Mon 16 April 
10:00-12:00e-Trade Readiness Assessments: the Lao Peoples’ Democratic Republic, Myanmar and Liberia
12:00-13:00Special session with EU Commissioner for Digital Economy and Society
15:00-16:30Egypt’s NewNational E-commerce Strategy
16:30-18:00The Sharing Economy – Lessons from China
Tues 17 April 
10:00-11:30Ministerial Roundtable: Advancing Women’s Digital Opportunities
11:30-13:00Ministerial Roundtable: Digital Impacts on Sustainable Development
15:00-17:30High Level Dialogue: Development Dimensions of Digital Platforms
Wed 18 April 
All dayBusiness Day
Thur 19 April 
15:00First Global Meeting of E-Commerce Associations
Fri 20 April 
17:00Overall findings for the week

See the full programme here or visit unctad.org

Chart 1. Global E-commerce sales, 2016, billion dollars


$ billion

% of GDPB2B

$ billion

% of all e-commerceB2C

$ billion

1United States7,554416,90491650
4Korea (Rep.)1,189841,1339556
6United Kingdom6902649772192
 10 above17,0613414,989882,072
 World25,720 22,964 2,756

Note: UNCTAD estimates derived from US Census Bureau; Japan Ministry of Economy, Trade and Industry; China Bureau of Statistics; KOSTAT (Republic of Korea); EUROSTAT & BEVH (Germany); UK Office of National Statistics; INSEE & FEVAD (France); Statistics Canada & Canada Post; CII (India) and EUROSTAT & Osservatori.net (Italy).