Malaysia's e-commerce sector continues to thrive, recording a four percent growth and reaching a revenue of RM918.2 billion in the first nine months of 2024.
The second quarter of 2024 saw the highest revenue of RM309.8 billion.
There was a 0.6 percent decline observed in the third quarter, recording a revenue of only RM307.9 billion.
Despite the slight decline, e-commerce remains a driving force for the Malaysian economy, according to Datuk Seri Dr Mohd Uzir Mahidin, Chief Statistician at the Department of Statistics Malaysia (DoSM).
In 2023, the Information and Communications Technology (ICT) and e-commerce industries generated RM427.7 billion in value-added contribution, reflecting a growth of 3.9 percent from 2022.
The overall contribution to the national economy increased to 23.5 percent, up from 22.9 percent.
The growth is supported by widespread ICT adoption, with 99.3 percent of households owning a mobile phone, and 96.4 percent having internet access.
Mobile broadband remains the leading choice, with 95.3 percent usage compared to cable broadband at 47.1 percent.
Notably, domestic e-commerce revenue far outpaced the international market, contributing RM1 trillion, or 89.1 percent, of the total.
Business-to-Business (B2B) transactions dominate, contributing 69.8 percent of revenue.
