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Prior to the COVID-19 outbreak, the digital economy has been playing an increasingly significant role as a new driver for Malaysia’s economic growth, drive transformation in our daily lives, social-economic and business dealings and operations.
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In 2018, the digital economy contributed 18.5% of the Malaysian economy as it grown by 7.9% pa from RM213.0 billion in 2015 to RM267.6 billion in 2018. The e-Commerce’s share to GDP stood at 8% or RM115.5 billion in 2018, an increase of 9.0% pa from RM89.1 billion in 2015 (7.6% of GDP).
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This remarkable growth was largely driven by non-Information, Communication and Technology (ICT) industry*, which had made up 5.9% share of GDP in 2018. The digitalisation process has been mainly driven by the integration of ICT with traditional service sectors such as financial and entertainment sectors as well as e-Commerce.
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In the global context, Malaysia was ranked 26th out of 63 countries in the IMD World Digital Competitiveness Ranking in 2019, marking a one notch improvement from the 27th placing in 2018.
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Malaysia is experiencing an "adaptive imbalance" or a mismatch between high levels of training and education, and the attitudes towards embracing digitalisation.
Note: *Non-ICT industry refer to other industries that produce ICT products
