The Gross Value Added (GVA) in E-Commerce in Malaysia observed a steady increase from 2015 to 2023, starting at 89.15 billion Malaysian Ringgits in 2015 and reaching 135.49 billion Malaysian Ringgits in 2023. The growth was marked by significant year-on-year (YoY) variations, peaking with a robust 12.19% increase in 2017. However, growth has moderated over recent years, with a slight decline in 2021 followed by minimal growth in 2022 and a more noticeable increase of 2.17% in 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) averaged at 1.63%, signaling a deceleration in growth compared to earlier years.
Future trends to watch for include:
- Increasing mobile and internet penetration, enhancing e-commerce reach.
- Expansions in logistics infrastructure improving delivery efficiency.
- The potential impact of regulatory changes and economic policies on e-commerce operations.
- Adoption of advanced technologies like AI and blockchain enhancing platform capabilities.