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Online exports for Malaysian businesses grow 29% YOY, PayPal finds

AvantiKumar | April 4, 2014
PayPal Cross Border Insights 2013 shows that local SMEs are experiencing significant global growth, says PayPal Country Manager for Malaysia & Thailand Audrey Ottevanger.

Audrey Ottevanger, PayPal's Country Manager for Malaysia & Thailand modified 

Photo - Audrey Ottevanger, PayPal's Country Manager for Malaysia & Thailand.

 

According to online payments provider PayPal's Cross Border Trade Insights 2013 survey, Malaysia's small and medium enterprises saw a 29 percent year on year [YOY] growth of online exports.

Speaking in Kuala Lumpur recently, PayPal country manager for Malaysia & Thailand Audrey Ottevanger said the latest results show the success and "massive growth potential for local businesses, especially small and medium enterprises (SMEs), to trade globally online, with the hottest growth opportunities coming from within Asia."

Ottevanger said some of the survey insights listed how and what Malaysian companies are selling to global markets:

Businesses in Malaysia using PayPal saw their online exports grow by 29 percent from 2012 to 2013 :

Top Export Growth Corridors modified

Table (above); Shows YOY percentages for the top expert and the fastest-growing export corridors

Fastest growing corridor modified

Image (above): Fastest growing export corridors

Top Corridor modified 

Image (above): Top export corridors

What Malaysia is selling modified

Image (above): What Malaysia is selling

Ottevanger said the survey also showed that globally, PayPal processed a total payment volume of US$180 billion in 2013, a 24 percent increase in the previous year, while cross-border trade accounted to about 25 percent of PayPal's total payment volume last year.

In addition, the company's international business accounted for more than half of total revenue in 2013. She added that PayPal's website is the 41st most visited website in the world, with more than 19 million visits daily and in Asia Pacific has 10 million active PayPal accounts, and Southeast Asia has more than 1.5 million active accounts.

 

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