KfW Research: SMEs’ online turnover has increased significantly

• Small and medium-sized enterprises took in EUR 306 billion through online sales channels
• Eleven per cent growth on previous year
• Twenty-two per cent of all SMEs trade online

SMEs in Germany generated revenue totalling EUR 306 billion with online sales of products and services in 2024. That was EUR 30 billion or eleven per cent more than a year before. Total turnover in the SME sector, however, rose by only around two per cent in nominal terms, which means revenue from online trade grew at a disproportionately high rate.

These are among the findings of a short study by KfW Research on SMEs’ online trade. The study is based on the KfW SME Panel, the only representative survey for the entire German SME sector. More than 13,000 businesses participated in the survey between February and June 2025.

E-commerce turnover in the SME sector had risen to a record level of EUR 325 billion in the COVID-19 pandemic in 2021. In the two years that followed, earnings then fell sharply to EUR 290 billion in 2022 and EUR 276 billion in 2023. The 300 billion euro threshold has now been surpassed again.

“The most recent increase shows that digital sales channels are extremely important for SMEs, too. Many small and medium-sized enterprises are investing in their digitalisation, and these efforts are sure to continue growing in the years ahead,”

said Dr Dirk Schumacher, Chief Economist of KfW.

In total, around 868,000 SMEs generated turnover through digital channels in 2024. That represents 22 per cent of all SMEs. The contribution of e-commerce to these enterprises’ total turnover at 27 per cent recorded a slight increase.

The short study is available at Economics in Brief | KfW

^{KfW supports SMEs with a number of promotional programmes on behalf of the Federal Government. More information is available at We are strengthening the SME sector (German page).}