Malaysia earns nearly $100 billion from ICT, e-commerce in 2023

Malaysia's information and communication technology (ICT) and e-commerce sectors generated 427.7 billion MYR ($99.25 billion) in 2023, contributing 23.5% to its GDP.

The ICT sector contributed 13.8% to GDP, while non-ICT e-commerce made up 9.6%, the country's Department of Statistics (DOSM) reported.

ICT services accounted for 41.6% of the sector’s value, followed by ICT manufacturing (38.2%) and trade (14.2%).

E-commerce generated 248.2 billion MYR in 2023, with a slower growth rate of 3.7%, down from 19.2% in 2022. It contributed 13.6% to GDP, with manufacturing (51.8%) and services (45.2%) leading the sector.

ICT product exports made up 34.5% of Malaysia’s total exports, reaching 430.7 billion MYR, while imports stood at 270.7 billion MYR. Net exports of ICT products reported a surplus of 160 billion MYR.

In employment, the ICT sector saw a 1.6% increase, employing 1.24 million people, or 7.8% of Malaysia's total workforce. Most jobs were in ICT manufacturing (35.6%), followed by services (29.2%) and trade (22.4%).