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DOSM: E-Commerce Income Up 10.4% Y-o-Y in 1Q2023

Malaysia’s e-commerce income by establishment rose 10.4% year-on-year (y-o-y) to RM291.7 billion in the first quarter 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 6% 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 on Thursday (July 6).

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

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

Meanwhile, DOSM said usage of computers had increased to 93.8% in 2021 from 86.2% in 2019, usage of the internet grew to 90.6% in 2021 from 85.2% in 2019, and web presence usage improved to 63.3% in 2021 from 53.9% in 2019.

It said although the Covid-19 pandemic had a negative impact on the overall economy, the restrictions and safety measures imposed led to a surge in online shopping and digital transactions.

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

Source: Bernama

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