E-commerce income nearly doubled to almost RM900bil in 2020

E-commerce income nearly doubled to almost RM900bil in 2020

Chief statistician Mohd Uzir Mahidin said the surge was due to the new normal of increased digitalisation in a time of Covid-19.

The Department of Statistics’ Mohd Uzir Mahidin said the rapid growth in ICT and e-commerce showed that companies have shifted towards the digital path in line with global developments.
PETALING JAYA:
Malaysia’s e-commerce income nearly doubled in three years, recording RM896.4 billion in 2020 as compared to RM447.8 billion in 2017, the Department of Statistics Malaysia (DOSM) revealed.

Chief statistician Mohd Uzir Mahidin also noted that in the first quarter of 2021, e-commerce income recorded RM254.6 billion, an increase of 30% from the corresponding period last year, due to the manufacturing and services sector.

In a statement, Uzir said the better performance was supported by the new normal of Covid-19 which gave a huge boost to digitalisation among businesses.

“In view of e-commerce income by market segment, the income of the local segment generated from sales conducted in Malaysia rose 21.7 % to RM591.8 billion in 2019. Sales for the international market went up 31.9% to RM83.5 billion.

“Accordingly, e-commerce income by type of customers via business to business (B2B) increased 13.0% to RM449.6 billion, followed by business to consumer (B2C) 53.3% to RM194.0 billion. Business to government (B2G) grew 55.7% to RM31.8 billion,” he said.

Uzir added that e-commerce expenditure recorded an increase of 14.8% to RM301.5 billion and that the local market segment surged 15.3% to RM269.6 billion while the international market grew 10.8% to RM31.9 billion.

E-commerce expenditure by type of market via B2B rose 14.1% to RM277.6 billion and B2C increased by 24.6% to RM14.4 billion. B2G grew 22.6% to RM9.1 billion.

“Subsequently, there was an increase in internet usage of 11.9 percentage points to 85.2%, followed by the use of computers which rose by 7.3% percentage points to 86.2%. In terms of web presence, it increased by 16.1% percentage points to 52.9%.

“The rapid growth in the use of information, communication and technology (ICT) and e-commerce in Malaysia shows that companies have shifted towards the digital path in line with global technological developments,” he said.

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