AliExpress growth has slowed due to the devaluation of the ruble

Jason DeCrow / AP

The rate of increase in AliExpress turnover slowed down almost twice due to economic problems in Russia, Vedomosti reports . One of the main reasons is the devaluation of the Russian ruble. However, the gross turnover of AliExpress, the Chinese company Alibaba Group, grew by 53% in the fourth quarter. In monetary terms, this is $ 70 million. The main growth was provided by the AliExpress platform - here the main work is carried out in international markets.

Nevertheless, a two-fold slowdown in the growth in international sales turnover was recorded, compared to October-December last year. During this period, Alibaba’s gross sales from foreign sales increased by 110%. According to experts of the company who published the financial report of the Alibaba Group, this slowdown is caused not only by the fall of the ruble against the dollar, but also by the depreciation of the national currency of Brazil.

The fact is that the main generators of AliExpress profits are buyers from Russia, Brazil and the United States. It is worth noting that in Russia last year the turnover of international e-commerce amounted to about $ 5 billion. At the same time, about 70% of the turnover came from Chinese stores, of which AliExpress is the most popular. The second and third places are TaoBao and Tmall sites, which are also owned by Alibaba Group.
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In 2014-2015 fiscal year, Alibaba’s total gross turnover reached a growth rate of 46% ($ 394 billion). The company's revenue for the same period increased by 45% to $ 12.29 billion. The total profit from all operations amounted to $ 3.732 billion. The decrease in profit for the year was 7% due to the so-called one-time operations.