Southeast Asia’s digital economy is heading for $368 billion

Google, Temasek and Bain & Company published e-Conomy SEA 2026 on 21 October 2026. It projects that Southeast Asia’s digital economy will grow 17% year on year to reach $368 billion in gross merchandise value (GMV) in 2026, and that it is on track to exceed $1 trillion by 2035.

E-commerce remains the largest part of it, at $226 billion in GMV, up 18%. The report calls it the region’s primary growth engine.

Country by country

Indonesia is the largest market, with a digital economy projected at $119 billion in 2026. Thailand follows at $72 billion, then Vietnam at $49 billion, Malaysia at $48 billion, the Philippines at $42 billion and Singapore at $31 billion.

The report also counts around 243 million people across the six largest markets, 58% of the working population, using generative AI.

What the numbers are, and aren’t

GMV is the value of goods and services bought through digital platforms. It is not revenue or profit. The 2026 values are estimates made during the year and may be revised. They describe a region; they don’t predict what any single business will earn.