An indication of the country's success in developing Web-based platforms for retail businesses, Taiwan is among the world's top three in terms of e-commerce penetration rate, the Taiwan Internet and E-Commerce Association (TiEA) revealed.
TiEA head Jan Hung-tze, speaking during the E-Commerce Expo Asia 2015 opening ceremony on Tuesday, remarked that e-commerce now holds an 11-percent share in the country's total retail revenue.
Taiwan comes after South Korea and the United Kingdom and comes ahead of the United States and China.
Jan, who also chairs leading local e-commerce operator PChome Online, said that the country's e-commerce success story can also be recognized in the global market.
Though Taiwan lacks large-sized e-commerce firms, those who have surpassed $1 billion market capitalization, its small- and medium-sized operators have helped in the rapid growth of the sector, Jan also noted.
In his opening ceremony address, Jan said that he hopes E-Commerce Expo Asia, which ends on Oct. 9, will serve as an avenue for foreign e-commerce firms to know more about Taiwan's efforts in this sector.
Held at the Taipei Nangang Exhibition Hall, the expo gathered a total of 50 e-commerce corporates from seven countries.
Cho Shih-chao, the country's deputy economics minister and one of the event's attendees, said that the local e-commerce sector has a great growth potential.
In an Institute for Information Industry forecast, Taiwan's e-commerce sector is expected to gain $33.4 billion worth of revenue this 2015.
Cho also pointed out that as the e-commerce sector of Taiwan continues to rise, the country's information and communications technology should grow further as well.