KUALA LUMPUR (October 12): Malaysia’s wholesale and retail sales value set another record high in August, rallying 33.7% year-on-year (y-o-y) to 133 RM.7 billion, according to Department of Statistics Malaysia (DOSM) said.
The department attributed the increase in wholesale and retail trade to the retail sub-sector, which grew by RM14.6 billion, or 34.5%, to RM57 billion.
“During the same period, motor vehicles increased by RM10.8 billion, or 185.3%, to reach RM16.6 billion, followed by wholesale, which jumped by 8.3%. billion, or 16%, to reach 60.1 billion RM.
“Month-over-month (mom) sales value increased 2.6%, driven by the contribution of the motor vehicle subsector, which grew 17.8%,” said the DOSM in a press release.
Regarding subsector performance, the department said the retail subsector’s growth of 34.5% in August was supported by retail sales at non-specialty stores, which rose. by RM5.7 billion, or 37.1%, to reach RM21.1. billion.
“Similarly, other groups within this sub-sector also recorded positive growth, namely retail sales at specialty stores at RM3.7 billion, automotive fuel retail sales (1.8 billion of RM) and retail sales of housewares (RM 1.5 billion).
“The motor vehicle sub-sector, which recorded an increase of 185.3%, was driven by motor vehicle sales, which increased by 206.3% or RM6.4 billion to reach 9 RM.5 billion.
“This was followed by sales of motor vehicle parts and accessories (RM2.2 billion), motor vehicle maintenance and repair (RM1.2 billion) and sales, servicing and motorcycle repair (RM1 billion),” he said.
The DOSM said the increase in the wholesale trade sub-sector, which grew by 16% to a record RM60.1 billion, was mainly attributed to other specialist wholesalers, which rose by 16.8%. %, or RM3.4 billion, to reach RM23.6 billion.
He said that among the groups that contributed to this growth were wholesale of household goods (RM 2.7 billion), wholesale of food, beverages and tobacco (RM 600 million) and wholesale of machinery, equipment and supplies (RM600 million).
“In terms of volume index, wholesale and retail trade recorded year-on-year growth of 27%.
“The expansion was led by motor vehicles, which rose 169.6%, and retail trade, up 30.1%.
“Similarly, wholesale trade also recorded a positive growth of 7.4%. For the seasonally adjusted volume index, it rose 3.1% month-on-month,” the department added.
