E-commerce income in Malaysia rises 10.4pc y-o-y in Q1, says Stats Dept - MIDA | Malaysian Investment Development Authority
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E-commerce income in Malaysia rises 10.4pc y-o-y in Q1, says Stats Dept

E-commerce income in Malaysia rises 10.4pc y-o-y in Q1, says Stats Dept

06 Jul 2023

Malaysia’s e-commerce income by establishment rose 10.4 per cent year-on-year (y-o-y) to RM291.7 billion in the first quarter (Q1) of 2023, primarily driven by the manufacturing and services sectors, said the Department of Statistics Malaysia (DoSM).

It said e-commerce income in 2022 amounted to nearly RM1.10 trillion, an increase of six per cent compared with the previous year.

“These positive results can be attributed to the government’s initiatives aimed at establishing

a regional e-commerce gateway, investing in e-commerce startups, promoting innovation

through a regulatory sandbox, and enhancing communication and broadband facilities.

“These efforts have yielded substantial economic benefits, including increased adoption of digital technology and overall improved performance,” it said in a statement today.

According to DoSM, income generated from e-commerce surged 23.9 per cent to RM1.037 trillion in 2021 from RM675.4 billion in 2019.

“For the local market segment which includes sales conducted within Malaysia, it recorded a substantial increase of 25.5 per cent, amounting to RM932.7 billion in 2021, while the international market segment increased 11.9 per cent to RM104.5 billion (in 2021),” it said.

Meanwhile, DoSM said usage of computers had increased to 93.8 per cent in 2021 from 86.2 per cent in 2019, usage of the Internet grew to 90.6 per cent in 2021 from 85.2 per cent in 2019, and web presence usage improved to 63.3 per cent in 2021 from 53.9 per cent in 2019.

It said although the Covid-19 pandemic had a negative impact on overall health and economy, the restrictions and safety measures imposed to control the spread of the virus, such as lockdowns, social distancing, and limited physical store operations, had led to a surge in online shopping and digital transactions.

“Overall, the Covid-19 pandemic has acted as a catalyst for the growth of e-commerce in Malaysia,” it said.

Source: Bernama