1. Client : PayPal Country : Singapore
Publication : The Business Times Section : Singapore News
Date : 8 April 2013
Topic : New window opens for SMEs as e-
commerce thrives: Paypal
Circulation : 18,336 (daily)
URl: : http://www.businesstimes.com.sg/premium/singapore/new-window-opens-smes-
e-commerce-thrives-paypal-20130406

3. PUBLISHED APRIL 06, 2013
New window opens for SMEs as e-commerce thrives: Paypal
DESPITE flat traditional export and import growth in Singapore, new data from PayPal shows cross-
border e-commerce figures rising rapidly.
This indicates a potential avenue for growth for small and medium enterprises (SMEs), according to
a statement from PayPal.
With trade volumes from traditional export channels expected to remain flat this year, small
businesses will need to find new sources of business growth, it said.
Compared to a rise of merely 0.5 per cent in non-oil domestic exports (NODX) last year, PayPal data
showed high growth in Singapore's online exports to Asia-Pacific markets.
The Greater China region showed the highest growth in online export sales, with year-on-year
increases of 68 per cent in China and 55 per cent in Hong Kong.
Other strong showings in the Asia-Pacific were in the Philippines (35 per cent), Taiwan (22 per cent),
Japan (22 per cent) and Australia (20 per cent).
Online imports also accelerated compared to the 3.2 per cent growth in Singapore's total imports.
Paypal cross-border purchases here grew by 35 per cent from Japan, making it the fastest-growing
market, and 32 per cent from both the United Kingdom and Australia.
PayPal pinpointed that popular export categories such as entertainment and media, vehicles and
accessories, and toys and hobbies are opportunities for SMEs, Fashion and jewellery are the most
popular items for mobile shoppers.
PayPal did not disclose absolute figures.
"Our data and insights clearly show that Singapore SMEs have a fantastic opportunity to reach out to
millions of consumers globally and aggressively expand into overseas markets through cross-border
e-commerce," said Faraz Ahmed, general manager at PayPal South-east Asia and India.
"Furthermore, with recent government initiatives geared at supporting SMEs looking to expand
beyond Singapore, we believe there is no better time for them to capitalise on the high-growth
online export channel, especially during these tough economic times," he added.