EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Monday, May 29, 2023
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

EDITIONS:

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm asncommerce mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Report: Malaysia’s internet economy to reach US$21 bil in GMV in 2021

by moneycompass
December 6, 2021
in Local Market News
internet economy
Share on FacebookShare on WhatsApp

KUALA LUMPUR – Malaysia’s overall internet economy is forecast to reach US$21 billion (US$1=RM4.20) in Gross Merchandise Value (GMV) this year, and is expected to hit US$35 billion by 2025, the latest edition of the e-Conomy SEA Report revealed.

The report by Google, Temasek and Bain & Company highlighted growth observed across all sectors of the country’s internet economy.

The report, entitled e-Conomy Southeast Asia (SEA) Report-Roaring ’20s: The SEA Digital Decade, provides new insights into the internet economies of six countries within Southeast Asia, namely Malaysia, Singapore, Indonesia, the Philippines, Thailand, and Vietnam.

In a statement on December 1, Google Malaysia managing director Marc Woo said despite the lockdowns, businesses have turned to digital platforms to survive and many are expecting to increase usage of digital tools in the next five years.

“Malaysia’s 2021 GMV is projected to hit US$35 billion by 2025 and we’ve seen how the pandemic has led to a permanent shift in digital adoption in Malaysia with 81% of all internet users now consuming digital services.

“This robust growth that we’re seeing is encouraging, and with initiatives such as MyDIGITAL in place to transform the country into a digitally-driven nation and a regional digital economy leader by 2030, it reinforces our commitment to shaping an equitable, safe and inclusive digital economy that will provide economic opportunity for current and future generations in our mission to advance Malaysia together,” he said.

The report dives into trends across seven internet economic sectors: five leading sectors comprising e-commerce, transport & food, online travel, online media, and digital financial services, as well as two nascent sectors comprising healthtech and edtech.

“Along with the rest of the region, Malaysia is moving into a new way of life as the pandemic has led to a permanent shift in digital adoption.

“The steep 47% growth of Malaysia’s digital market from US$14 billion in 2020 to US$21 billion in 2021 was driven by a significant 68% surge in e-commerce, which is expected to grow to US$19 billion by 2025,” said the report.

The transport & food and online media sectors also observed double-digit growth at 35% and 14%, respectively, it added.

 

Read more: FedEx Express Unveils White Paper on Digital Megatrends That Will Define What’s Next in E-Commerce

Tags: digital economye-commerceMyDigital
ShareSendShareSendTweetShare
Previous Post

Bursa Malaysia Derivatives’ After-Hours Trading goes live on Dec 6

Next Post

Malaysia & China to collaborate in vaccine R&D and production

Related Posts

Loh Guat Lan, President of LIAM
Local Market News

Life Insurers Offer Relief Measures to Assist Flood Victims

08 Mar 2023
Bursa Malaysia
Current News

Bursa Malaysia enhances Islamic securities

10 Feb 2023
Corporate News

JCorp Officially Launches JLand Group (JLG) to Capture Opportunities in New Economy Real Estate

18 Jan 2023

Discussion about this post

MOST POPULAR

  • Labuan IBFC Inc. and Qatar Financial Centre Authority enhance strategic partnership

    0 shares
    Share 0 Tweet 0
  • The Asia Pacific Enterprise Awards 2022 Honors 34 Business Leaders and Enterprises Spearheading Taiwan’s Economic Resurgence

    0 shares
    Share 0 Tweet 0
  • Drawfest 3, the online illustration event attended by thousands of international creators is fast approaching

    0 shares
    Share 0 Tweet 0
  • World’s First Mini-PC with Solid-State Active Cooling Debuts at ZOTAC COMPUTEX 2023

    0 shares
    Share 0 Tweet 0
  • Big Data Expo 2023: Merging Digital Technology with Culture

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER