$8 trillion exchange hands each year through e-commerce [McKinsey Report]

Priit Kallas

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Tags: economic growth, global e-commerce revenue, global internet gdp, internet consumer surplus, internet gdp, internet statistics, internet stats, mckinsey report

In a paper prepared for the Foreign Commonwealth Office International Cyber Conference, MGI examines what more can be done to fully capture the benefits of the Internet.

• Internet accounted for 21 percent of the GDP growth in mature economies over the past 5 years.
• Two billion people are connected to the Internet.
• Almost $8 trillion exchange hands each year through e-commerce.
• Internet accounts for, on average, 3.4 percent of GDP across the large economies that make up 70 percent of global GDP.
• Internet’s total contribution to global GDP is bigger than the GDP of Spain or Canada, and it is growing faster than the GDP of Brazil.
• Internet has created 2.6 jobs for every one it has destroyed.
• The consumer surplus generated by the Internet in 2009 ranged from $10 billion in France to $64 billion in the United States.

Read the full report: McKinsey & Company – Report – The great transformer: The impact of the Internet on economic growth and prosperity – October 2011.

Posted on: November 7, 2011