Malaysia’s e-commerce revenue increased 17.1% year-on-year (y-o-y) to RM279.0 billion in the third quarter of 2021 (Q321), according to the Department of Statistics Malaysia.
Commenting on the Malaysia Digital Economy 2021 report today, Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin says, “In terms of quarter-on-quarter growth, it maintained a positive trend of 4.3%.
“From January to September, e-commerce revenue totalled RM801.2 billion, up 23.1 percent year on year.”
Industrial centres such as Selangor, Kuala Lumpur, Johor, and Penang, according to Mohd Uzir, are driving e-commerce. Manufacturing and services remained the primary drivers of growth in the industry.
“Indeed, the improved performance was attributed to the adoption of new normal during the pandemic, in which it boosted digital usage in Malaysia,” he explains.
In terms of e-commerce revenue by market segment in 2019, the local sector dominated with an 87.6 percent contribution from Malaysian sales, compared to 12.4 percent for the international sector.
The income generated was valued at RM591.8 billion and RM83.5 billion, respectively.
Business-to-business e-commerce income was the highest, at RM449.6 billion, with a 66.6 percent contribution, followed by business-to-consumer e-commerce income at RM194.0 billion, or 28.7%.
In the meantime, business-to-government recorded RM31.8 billion (4.7%), Mohd Uzir said, adding that digital technology has the potential to propel Malaysia’s economic growth.
