Malaysia's E-commerce Revenue Last Year Was 248.2 Billion
Jayson 17 Oct 2024 12:05
According to foreign media reports, yesterday, the Department of Statistics of Malaysia released a report on the ICT and e-commerce industries in 2023, revealing important insights into the performance of the ICT industry and e-commerce.
According to Malaysia's Chief Statistician Datuk Seri Mohamed Uzir Mahidin, the ICT and e-commerce industries generated RM427.7 billion in revenue in 2023, contributing 23.5% to the country's GDP.
This is an increase from 22.9% (RM411.6 billion) in 2022. However, the industry's growth has slowed to 3.9%, compared with 14.3% in the previous year.
The report shows that e-commerce also plays an important role, contributing RM248.2 billion to the economy, with a growth rate of 3.7%, lower than 19.2% in 2022, and e-commerce's contribution to GDP is 13.6%,
Among them, the manufacturing industry contributed the most, at 51.8%, followed by the service industry, at 45.2%. The remaining contribution comes from mining and quarrying, agriculture and construction.
In terms of trade, ICT goods exports account for 34.5% of Malaysia's total exports, reaching RM430.7 billion in 2023, mainly driven by ICT products (90.9%). Conversely, ICT goods imports account for 23.4% of the country's imports, valued at RM270.7 billion, of which ICT products account for 84.3%. Overall, there is a net export surplus of RM160 billion in ICT goods.
According to Malaysia's Chief Statistician Datuk Seri Mohamed Uzir Mahidin, the ICT and e-commerce industries generated RM427.7 billion in revenue in 2023, contributing 23.5% to the country's GDP.
This is an increase from 22.9% (RM411.6 billion) in 2022. However, the industry's growth has slowed to 3.9%, compared with 14.3% in the previous year.
The report shows that e-commerce also plays an important role, contributing RM248.2 billion to the economy, with a growth rate of 3.7%, lower than 19.2% in 2022, and e-commerce's contribution to GDP is 13.6%,
Among them, the manufacturing industry contributed the most, at 51.8%, followed by the service industry, at 45.2%. The remaining contribution comes from mining and quarrying, agriculture and construction.
In terms of trade, ICT goods exports account for 34.5% of Malaysia's total exports, reaching RM430.7 billion in 2023, mainly driven by ICT products (90.9%). Conversely, ICT goods imports account for 23.4% of the country's imports, valued at RM270.7 billion, of which ICT products account for 84.3%. Overall, there is a net export surplus of RM160 billion in ICT goods.
