This article covers such an important issue as the e-commerce role and importance in economic development. It is based on the e-commerce development dynamics in the world economy analysis, including changes in the e-commerce volume using the example of China in the pandemic context. The article is divided into five parts and begins with an emphasis on the relevance of studying e-commerce: the rapid development of information technologies and the active use of the Internet for commercial purposes increases the volume of e-commerce. Moreover, we are talking about the fact that promoting the development of e-commerce opens up new areas for doing business.

The second and third sections are devoted to the analysis of the literature used and the research methodology. The authors cite the scientific works of a number of researchers dealing with e-commerce and e-commerce. In particular, these works considered various aspects of the activities of economic entities operating in the field of electronic commerce. Research in the field of the global e-commerce market was also not spared. Various reports of international experts have served to assess the development of global e-commerce. The study used induction and deduction, analysis and synthesis, quantity and quality, and comparative analysis as the main methods.

The fourth part includes the analysis itself and the results obtained. According to research, by 2021, the number of digital technology buyers in the world is expected to reach 2.14 billion, which is a quarter of the world's population. Factors such as convenience and cost savings encourage people to adapt to e-commerce, while factors such as high Internet speed and cheap devices contribute to this process. According to statistical sources, which authors used, global e-commerce turnover has been growing steadily in recent years, reaching $ 2.9 trillion in 2018 and $ 3.5 trillion in 2019. This figure is expected to exceed $ 6.5 trillion by 2023. The share of e-commerce in total retail sales is also growing, and it is projected to grow by almost 10 percent over the next five years, from 12.2 percent in 2018 to 22 percent in 2023. We must not forget that these figures may be even higher in the context of a global pandemic. An analysis of the volume of e-commerce on the example of China in the context of the pandemic showed an increase not only in electronic trade, but also in the trade of online stores of non-food products.

In conclusion, the authors draw a conclusion about the importance of the development of national e-commerce against the background of the intensive use of electronic technologies in trade in the world. New technologies increase the efficiency of the market for goods and services by

reducing the number of intermediaries and have a positive impact on competition between manufacturers.

Source: Nasimovna K. S., Ilkhomovich O. I., “Status and analysis of the development of world electronic trade service”. World Economics and Finance Bulletin 1.1 (2021): 9-11.

URL: https://scholarexpress.net/index.php/wefb/article/view/6/51