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Malaysia’s Q3 e-commerce income increases to RM279b

Malaysia’s e-commerce income surged to RM279.0 billion, a jump of 17.1% year-on-year (y-o-y), in the third quarter (Q3) of 2021, 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 said in terms of quarter-on-quarter growth, it maintained a positive trend of 4.3%.

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

Mohd Uzir said e-commerce was driven by industrial centres such as Selangor, Kuala Lumpur, Johor, and Penang. In terms of industry, manufacturing and services remained 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.

On e-commerce income by market segment in 2019, the local sector dominated with a contribution of 87.6%, generated from sales in Malaysia, compared with the international sector’s 12.4%. The value of the income generated was RM591.8 billion and RM83.5 billion, respectively.

E-commerce income by type of customers via business-to-business registered the highest income of RM449.6 billion with a 66.6% contribution, followed by business-to-consumer 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.

The Malaysia Digital Economy Blueprint (MyDigital), which was launched by the government in February 2021, is the foundation for the country’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.

– Bernama