E-commerce income rises 10.4% y-o-y in first quarter

According to the Department of Statistics Malaysia (DoSM), Malaysia experienced a 10.4% increase in e-commerce revenue in the first quarter of 2023 compared to the previous year. This growth was mainly influenced by the manufacturing and services industries.

According to the report, online sales revenue in 2022 reached approximately RM1.10 trillion, exhibiting a growth of six percent when compared to the previous year.

The government's efforts to create a regional online shopping hub, support new online businesses, encourage experimentation through a controlled environment, and improve communication and internet access have led to these favorable outcomes.

In a recent announcement, it stated that these initiatives have resulted in significant economic advantages, such as a rise in the utilization of digital technology and overall enhanced productivity.

Based on data from the Department of Statistics Malaysia (DoSM), the revenue generated from online business experienced a significant increase of 23.9% to reach RM1.037 trillion in 2021, compared to RM675.4 billion in 2019.

According to the statement, the domestic market saw a significant growth of 25.5 percent, reaching a total of RM932.7 billion in sales within Malaysia for the year 2021. Meanwhile, the foreign market also experienced an increase of 11.9 percent, totaling RM104.5 billion in international sales during the same year.

In the meantime, the Department of Statistics and Mathematics (DoSM) reported that the utilization of computers had risen to 93.8% in 2021, up from 86.2% in 2019. Furthermore, the usage of the Internet experienced growth, reaching 90.6% in 2021 compared to 85.2% in 2019. Additionally, the use of web presence showed improvement, increasing to 63.3% in 2021 from 53.9% in 2019.

According to the blog, despite the adverse effects of the Covid-19 crisis on both people's well-being and the economy, the measures enforced to contain the virus outbreak like lockdowns, maintaining distance from others, and reducing in-store activities have caused a significant increase in internet-based buying and electronic financial dealings.

"In general, the Covid-19 outbreak has accelerated the expansion of online shopping in Malaysia," stated Bernama.