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Top 10 European countries with best performance in e-commerce in 2020

Greece, strange as it sounds, recorded in 2020 the highest growth rates in terms of turnover of e-commerce with other major European countries to follow. In particular, Greece reached + 77% according to the European E-Commerce Report for 2021 compiled by E-commerce Europe and EuroCommerce. In the second place after Greece follows Moldova, with a growth rate of + 49%, while Russia holds the third position with + 41%. In the fourth place is Switzerland with + 37%, while the top five countries with the highest growth rate in terms of turnover of e-commerce is completed by North Macedonia with a percentage also + 37%.

Continuing the presentation of the list, in the 6th place is Sweden with a growth rate in terms of turnover of e-commerce + 36%. Sweden is followed by Hungary in the 7th place with + 35%, while in the 8th place is Poland with + 34%. The last two positions of the list are completed by Albania with a growth rate in terms of turnover of e-commerce + 33% and Croatia with + 32%.

The list includes several more European countries, which, however, failed to record a high growth rate in 2020 in terms of e-commerce turnover. For example, the percentage of Spain is + 29% while of Cyprus + 25%. Portugal (+ 23%), Finland (+ 22%) and Luxembourg (+ 21%) recorded an even slower growth rate. Single-digit growth was recorded in Bulgaria (9%), France (9%), Belgium (7%), Ireland (7%), Austria (7%), Denmark (6%), Italy (3 %), the Netherlands (3%), the United Kingdom (2%) and Germany (2%).

The country with a negative growth rate in 2020 in terms of e-commerce turnover is Norway, with a share of -31%.

In terms of measuring the share of e-commerce turnover in the GDP of a country, the first place in this list is occupied by the United Kingdom with 9.9%. In the second place is Denmark with 7.29%, followed by Estonia with 6.78%. Greece is in the 4th place, behind the United Kingdom, Denmark and Estonia. The percentage of Greece is 6.65%.

Greece is followed by the Czech Republic in the 5th place, with a percentage of 5.71%. Spain is also high in terms of share of the e-commerce turnover in relation to the country’s GDP with a percentage of 5.63%, while in the 7th place follows France with a percentage of 4.79%. Poland, Portugal and Romania complete the top ten countries with the highest share of e-commerce turnover in GDP. More specifically, the percentage of Poland (8th place of the list) is 4.67%, Portugal (9th place of the list) is 3.90% and Romania (10th place of the list) is 3.51%.

Smaller percentages are recorded in countries such as Germany (3.08%), Norway (2.57%), Sweden (2.42%), Austria (2.30%), Italy (1.99%) and Switzerland (1.88%). At the same time, the percentages of Luxembourg (0.94%), Moldova (0.88%) and Malta (0.79%) are much lower.

It is worth mentioning that while the percentage of e-consumers across Europe is estimated at 73% of the population, in the Mediterranean countries this percentage is much lower with only Malta exceeding 70%.

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Maria Gourtsilidou
Maria Gourtsilidou is Senior Editor of Research and Data Analytics at the CEOWORLD magazine. She is responsible for driving thought leadership, using data analytics to showcase the company’s products and services, and fostering knowledge sharing between CEOWORLD magazine and client organizations. She studied Public Administration (Economics Of The Public Sector) in Greece and holds a Bachelor’s in Public Administration from the Panteion University of Political & Social Studies. Follow Maria Gourtsilidou on Twitter. Write at maria-gourtsilidou@ceoworld.biz.