You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Exchange Rates<br />
Regional and National <strong>B2C</strong> E-<strong>commerce</strong><br />
GOMSEC<br />
All data reported in the national currency of the country<br />
involved are converted into dollars according to the average<br />
(annual) rate of exchange as provided by, the European Central<br />
Bank (ECB) or the national bank of the particular country or<br />
other sources. The reference period that is used for this was from<br />
January 1, 2015 to December 31, 2015. Growth rates are<br />
calculated and measured by the <strong>B2C</strong> e-<strong>commerce</strong> sales in the<br />
national currency.<br />
Discrepancy<br />
By using this conversion method, difference may occur between<br />
this report and versions from previous years. Even though the e-<br />
<strong>commerce</strong> turnover of a particular country has remained the<br />
same in the local currency over the years, this may differ in<br />
dollars as of 2010 due to the exchange rates. As the dollar and<br />
euro are linked to each other, there is a difference between the<br />
e-<strong>commerce</strong> turnover in the various years. For instance, €1 was<br />
worth $1,3285 in 2014 while €1 was only worth $1,1085 in 2015.<br />
In other words, the dollar has become stronger, as a result of<br />
which North America surpassed Europe in terms of e-<strong>commerce</strong><br />
turnover.<br />
www.e<strong>commerce</strong>foundation.org 29
Change language