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E-commerce is major contributor to UK economy

The Internet economy in the UK was worth £100 billion last year, representing 7.2% of GDP and putting the industry ahead of construction, transport and utilities.

According to a study by the Boston Consulting Group and commissioned by Google, the UK is now the world’s leading country for e-commerce and a net exporter of e-commerce goods and services, exporting £2.80 for every £1 imported.

The study surveyed over 900 SMEs (small and medium-size enterprises) and found that companies that actively use the Internet reported overall sales growth more than four times greater than that of less active companies. The number of British adults who bought goods or services online in the past year totalled 31 million, or 62% of all adults. Read the press release at BCG.com.