Etsy Gross Merchandise Sales (GMS)

Gross merchandise sales, or GMS, is the dollar value of items sold in all Etsy marketplaces.

Etsy defines this as:

Gross merchandise sales (“GMS”) is the dollar value of items sold in our markets within the applicable period, excluding shipping fees and net of refunds associated with canceled transactions.

Last reported quarter 2026 Q1 it was $2.46 billion, up by 7% year-over-year from $2.30 billion. From $10.90 billion in 2024 it decreased by -4% to $10.42 billion in 2025.