Growth In All Sectors Led To Wholesale & Retail Trade Sales Soaring 7.1% To RM147.9 Billion In May – BusinessToday

Growth In All Sectors Led To Wholesale & Retail Trade Sales Soaring 7.1% To RM147.9 Billion In May – BusinessToday

Malaysia’s Wholesale & Retail Trade registered monthly sales value of RM147.9 billion, expanded 7.1 per cent year-on-year in May 2024.

The Department of Statistics Malaysia (DOSM) said this today in its Performance of Wholesale & Retail Trade, May 2024 release which presents statistics on sales value and volume index of Wholesale & Retail Trade by sub-sector as well as index of retail sales over the internet.

Chief Statistician Malaysia Dr. Mohd Uzir Mahidin said, “The increase of 7.1 per cent year-on-year for Wholesale & Retail Trade in May 2024 was driven by Retail Trade sub-sector, which rose 8.7 per cent or RM5.1 billion to register RM64.0 billion. Wholesale Trade also grew by registering 4.7 per cent or RM2.9 billion to RM65.1 billion, followed by Motor Vehicles with an increase of 10.5 per cent or RM1.8 billion to settle at RM18.8 billion.”

For monthly comparison, Wholesale & Retail Trade went up 2.0 per cent from the previous month, supported by Motor Vehicles and Wholesale Trade with 8.8 per cent and 2.0 per cent, respectively.

On performance across sub-sectors, the Chief Statistician said: “The growth of 8.7 per cent year-on-year in Retail Trade was contributed by Retail Sales in Non-specialised Stores which grew 10.7 per cent or RM2.4 billion to RM24.9 billion.

“Other groups in this sub-sector also recorded positive growth namely Retail Sales in Specialised Stores (12.8%), Retail Sales of Automotive Fuel (8.1%), Retail Sales of Household Goods (5.3%), Retail Sales of Food, Beverages & Tobacco (9.6%), Retail Sales of Cultural & Recreation Goods (3.4%), Retail Sales Not in Stores, Stalls or Markets (8.0%), and Retail Sales in Stalls & Markets (5.9%). For month-on-month comparison, sales of this sub-sector inched up 0.3 per cent, supported by Retail Sales in Non-specialised Stores (0.9%), Retail Sales of Automotive Fuel (0.6%), and Retail Sales of Cultural & Recreation Goods (1.1%).”

On the Wholesale Trade sub-sector, the increase of 4.7 per cent year-on-year in this month was supported by Other Specialised Wholesale which rose RM0.9 billion or 4.0 per cent to RM24.1 billion. This was followed by Wholesale of Household Goods (6.5%), Wholesale of Food, Beverages & Tobacco (6.2%), Wholesale of Agricultural Raw Materials & Live Animals (3.9%), Wholesale of Machinery, Equipment & Supplies (1.8%), Non-specialised Wholesale Trade (4.3%), and Wholesale on a Fee or Contract Basis (2.2%).

For monthly comparison, Wholesale Trade rose 2.0 per cent, mainly contributed by Wholesale of Household Goods (2.9%), Wholesale of Agricultural Raw Materials & Live Animals (4.7%), and Other Specialised Wholesale (0.9%).

Dr. Mohd Uzir added: “The year-on-year growth of 10.5 per cent for Motor Vehicles sub-sector in May was fueled by Sales of Motor Vehicles which soared 11.1 per cent or RM1.0 billion to record RM9.9 billion. This was followed by Sales of Motor Vehicle Parts & Accessories (11.9%) and Maintenance & Repair of Motor Vehicles (12.8%). For monthly comparison, this sub-sector rebounded 8.8 per cent, spearheaded by Sales of Motor Vehicles (14.9%) and Sales, Maintenance & Repair of Motorcycles (17.2%).”

For index of retail sale over the internet, the index expanded 5.2 per cent year-on-year in May 2024 as compared to 4.3 per cent in April 2024. For seasonally adjusted value, the index slipped -4.7 per cent as against the previous month.

In terms of volume index, Wholesale & Retail Trade for May 2024 registered a year-on-year growth of 5.7 per cent. The expansion was attributed to all sub-sectors namely Motor Vehicles (9.6%), Retail Trade (6.8%), and Wholesale Trade (3.4%). Conversely, for seasonally adjusted volume index, it went down -0.9 per cent month-on-month.

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