From 2015 to 2023, Malaysia's ICT Trade Gross Value Added in E-Commerce grew significantly, increasing from 1.77 billion Malaysian Ringgits to 5.23 billion Malaysian Ringgits in 2023. The period saw robust year-on-year growth, peaking with a 34.48% increase in 2017. Recent years showed a moderated growth with a 4.38% increase in 2023, down from 27.38% in 2019. The 5-year CAGR between 2018 and 2023 was 14.84%, reflecting a steady rebound post its slowdown phase in 2020-2021.
Future trends to watch for include:
- Continued digital transformation driving e-commerce growth.
- Increasing adoption of emerging technologies like AI and blockchain.
- Enhanced regulatory environment fostering secure online trade.