E-commerce income surges 17.1 pct y-o-y to RM279 billion

From January to September, e-commerce income recorded RM801.2 billion, an increase of 23.1 per cent y-o-y. Datuk Seri Dr Mohd Uzir Mahidin

KUALA LUMPUR: Malaysia’s e-commerce income surges to RM279.0 billion, a jump of 17.1 per cent year-on-year (y-o-y) in the third quarter (Q3) of 2021, according to the Department of Statistics Malaysia (DOSM).

Commenting on the Malaysia Digital Economy 2021 report, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in terms of quarter-on-quarter growth, it maintained a positive trend of 4.3 per cent.

“From January to September, e-commerce income recorded RM801.2 billion, an increase of 23.1 per cent y-o-y,” he said.

At the state level, Mohd Uzir said e-commerce was driven by industrial states, namely Selangor, Kuala Lumpur, Johor, and Penang.

In view of industry, manufacturing and services sectors remained as the key drivers of growth.

“Indeed, the improved performance was attributed to the adoption of new normal during the Covid-19 pandemic, in which it boosted digital usage in Malaysia,” he said.

Given the e-commerce income by market segment in 2019, the income of the local market which was generated from sales conducted in Malaysia, dominated the market with a contribution of 87.6 per cent, as compared to the international market’s 12.4 per cent.

The value of the income generated was RM591.8 billion and RM83.5 billion, respectively.

Accordingly, e-commerce income by type of customer via Business to Business (B2B) registered the highest income of RM449.6 billion with a 66.6 per cent contribution, followed by Business to Consumer (B2C) at RM194.0 billion (28.7 per cent).

“In the meantime, Business to Government (B2G) recorded RM31.8 billion (4.7 per cent),” he said, adding that digital technology has the potential to propel Malaysia’s economic growth.

The Malaysia Digital Economy Blueprint (MyDigital), which was launched by the government in February 2021, is the foundation for Malaysia’s transformation into a “regional digital pulse” which is expected to boost productivity, stimulate innovation, and improve livelihoods by harnessing the internet, big data, the internet of things, artificial intelligence, and other technologies.