E Commerce Growth In Malaysia

Latest numbers from the department of statistics malaysia also indicate that the digital economy accounted for 18 2 of the country s gdp in 2016 while the share of e commerce in the national gdp has increased to 6 1 compared to 5 9 in 2015.

E commerce growth in malaysia. According to international trade and industry minister datuk seri mustapa mohamed the e commerce target set by the government could be achievable with the acceleration intervention. Malaysia s e commerce is on a growth trajectory and has already started benefiting the country following the full implementation of 13 key programmes under the national ecommerce. The growth rate of e commerce in malaysia is expected to double from 10 8 in 2016 to 20 8 in 2020 and reach gross domestic product gdp contribution of rm211 billion in the same year. Malaysia s top e commerce websites compared by estimated traffic.

The estimated monthly traffic from the top 10 e commerce websites shows the domination of shopee and lazada over the malaysian market with about 20 million visitors per month respectively. Kuala lumpur nov 28. The ecommerce market encompasses the sale of physical goods via a digital channel to a private end user b2c. Driven by a relatively high internet penetration rate the e commerce market in malaysia is going from strength to strength and is forecast to grow at a compound annual growth rate of 24 percent a year.

One of the most dynamic countries online in southeast asia malaysia is a very attractive market for e commerce. The pack of followers stands in the range of 400 000 to 4 million visitors per month. The positive growth of the ecommerce industry in malaysia will also be driven by the government s national e commerce strategic roadmap initiatives that strive to increase internet accessibility to rural areas and improve e wallets technologies. The travel sector grew by a more modest 18 percent but that was still enough to deliver an additional us 400 million in spending compared to 2017.

The e commerce sector has seen significant growth in terms of contribution to the country s economic growth said international trade and industry deputy minister datuk ahmad maslan. A middle income country with a digital population of more than 20 million people malaysia attracts appetites both from local and global companies interested in grabbing a share of its e commerce market. Malaysia s e commerce market goes from strength to strength. Overall malaysia s ecommerce sector is enjoying strong growth with statista s data showing that combined spend across all sectors grew by 24 percent last year.