UnaFinancial has projected that Southeast Asia’s digital economy will contribute 56% to its gross domestic product (GDP) by 2027, with digital payments leading the way at 61.5%. The gross value added (GVA) of the digital economy in the region is expected to reach $2.35 trillion in 2027, representing a 45% increase compared to 2022. Digital payments are anticipated to maintain their dominance, accounting for 61.5%, while digital commerce, mobile apps, and the online media market will also experience growth. Despite the growth in all sectors, the share of certain sectors like electronic and optical production, telecommunication infrastructure, and IT and software services is expected to decrease.

In absolute terms, the GVA of all sectors will grow, with the largest increase seen in mobile apps (303%), followed by digital commerce (160%), online media (75%), digital payments (42%), telecommunication infrastructure, and IT and software (39% each). The smallest increase is expected in electronic and optical production (21%).

The analysts at UnaFinancial noted that the digital economies of Indonesia, Malaysia, Vietnam, Singapore, and the Philippines will make up 97.6% of the total in Southeast Asia. However, Myanmar, Laos, Cambodia, and Brunei may show the fastest growth due to the timely introduction of digital technologies, albeit from a smaller economic base. The GVA of the digital economy in Southeast Asian countries accounted for 45% of the region’s GDP in 2022, with Indonesia leading with a 42.6% share.

UnaFinancial emphasized that Indonesia’s leadership is attributed to its population, which comprised 41.1% of the total population in Southeast Asia in 2022. The distribution of countries by GDP aligns with the share of the digital economy in the region.