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At a webinar hosted by HKTDC Research, entitled The E-Commerce Route into Central & Eastern Europe, a number of experts were invited to analyse the structure and growth potential of the e‑commerce market in Poland, and to discuss the attributes needed to enter the market there. Louis Chan, Deputy Director of Research at HKTDC, noted that during the Covid-19 pandemic, e‑commerce became a major sales channel for many industries around the world. However, since the demands and spending habits of consumers in Central and Eastern Europe (CEE) differ from those of their counterparts in Asia, Hong Kong companies wanting to enter the CEE market via e‑commerce must first obtain a good understanding of the structure of the e‑commerce market in the region, and the latest developments in that market, if they are to succeed.
Simeon Woo, Economist (Global Research) at HKTDC Research, gave an overview of key CEE markets at the webinar. He explained that CEE generally refers to the 16 countries around the Baltic Sea, Balkan Peninsula and Central Europe. The combined population of the region exceeds 100 million and its total GDP reached US$2 trillion (HK$15.6 trillion) in 2022. Poland, Romania, the Czech Republic and Hungary are the region’s largest economies. Outlining CEE’s links with Hong Kong, Woo said: “According to the trade figures, in 2022 the value of Hong Kong‑CEE trade surpassed US$8 trillion, up some 20% from 2017, with Hungary, Poland and the Czech Republic being Hong Kong’s major trading partners. Key import‑export products included telecommunications equipment, computers and semi‑conductors.”
Woo warned that the Russia‑Ukraine conflict has somewhat dampened the economic outlook for CEE, but added: “While geopolitical risk has weakened consumer demand and slowed down economic growth in CEE, the economy in the region remains resilient amidst this difficult environment. As the market in general remains optimistic about the long‑term prospects for economic development in CEE and inflation eases markedly, it is expected that the region will register considerable economic growth this year and the next.”
Turning to the e‑commerce market in Europe, Woo cited the European E-Commerce Report 2022 and said the B2C e‑commerce market in Europe had stayed vibrant from 2017 to 2021, with turnover increasing from €452 billion (HK$3.88 trillion) to €718 billion. Of this growth, the contribution from the CEE market was the most remarkable, accounting for 12% of total European e‑commerce turnover.
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