eBay sees online exports from Russia to rise to $10 bln in 3–7 yrs

MOSCOW, Mar 28 (PRIME) -- U.S. Internet shopping site eBay expects the volume of online exports of Russian goods to reach U.S. $10 billion over three to seven years, Ilya Kretov, general manager at eBay in Russia and Emerging Europe, said on Thursday at a news conference.

The market was valued at $430 million in 2016 with only 0.3% of Russian small and medium-sized businesses exporting their goods, Kretov said.

“There is a certain trend that the figure is at 7–8% in West Europe. Exports will rise approximately to $10 billion, by 25 times. If we set the West Europe standard, the figure of up to $10 billion is feasible,” the executive said.

eBay is witnessing a strong revival of sales in Russia and East Europe, he said.

According to researcher Data Insight and eBay’s data, online exports of Russian goods increased 36% in 2018 to $746 million.

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