KUALA LUMPUR: Malaysia's digital economy is poised to reach US$31 billion (RM138.4 billion) in gross merchandise value (GMV) in 2024, an increase of 16 per cent from 2023.

According to the latest e-Conomy Southeast Asia (SEA) 2024 by Google, Temasek and Bain & Company, the country's digital economy has progressed towards profitability while maintaining double-digit growth for GMV.

Google Malaysia country director Farhan Qureshi said Malaysia's digital economy has charted consistent growth and this year was another strong testament of the potential of Malaysia's digital economy.

"With the region's focus on artificial intelligence (AI), it is encouraging to see the country's leaders are putting AI and semiconductors in the country's priority list," he told a media briefing at the release of the report here today.