Greece's e-commerce market totaled 1.7 billion euros in 2011 and was expected to surpass 5.0 billion euros in the coming years, while 15 pct from a total of 2,000 enterprises in the industry were operating on the verge of illegality, a study by the Athens Economic University showed on Thursday.

The study was presented by G. Doukidis, a professor of e-commerce and business at the Athens University, and by Stephanos Komninos, Commerce secretary-general, during a meeting with reporters to present the ministry's actions to better regulate e-commerce in the country, a sector which grows dynamically offering an alternative proposal to enterprises and young enterpreuners during the deep economic crisis.

Doukidis said that 15 pct of e-commerce enterprises, around 300 enterprises, failed to preset the basic elements of a formal enterprise, such as address, telephone, e-mail or even a tax register number.

The Development, Competitiveness and Shipping ministry, in cooperation with the Athens Economic University began an effort to assess the e-commerce market, to create a register and offering certification of operation.

The e-commerce market is growing by at least 30 pct annually, with around 1,500,000 Greeks recorded as mature online consumers. The cost of creating an e-shop has fallen to 5,000 euros from 30,000 euros two years ago. Electronic products are the main products sold through the market, although travel packages are gradually gaining market share.