HomeBusinessEconomyWholesale And Retail Trade In Malaysia Rose 15.2% To RM133.9b In October...

Wholesale And Retail Trade In Malaysia Rose 15.2% To RM133.9b In October 2022

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Malaysia’s wholesale and retail trade sales increased 15.2 percent year on year (y-o-y) to RM133.9 billion in October 2022, led by growth in the retail trade sub-sector, according to the Malaysian Department of Statistics (DoSM).

The wholesale and retail trade sales value decreased by 0.1% month on month (m-o-m), owing to the contraction of motor vehicles (-3.5%) and wholesale trade (-0.3%).

According to Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin, the y-o-y growth in the retail trade sub-sector of 26% to RM58.3 billion was supported by retail sales in non-specialised stores, which increased by 25.7 percent or RM4.4 billion to RM21.6 billion.

“Other groups in this sub-sector also experienced positive growth, including retail sales in specialised stores (+40.9%), retail sales of automotive fuels (+40.1%), retail sales of household goods (+19.1%), retail sales of information and communication equipment (+13.3%), retail sales of food, beverages, and tobacco (+14.7%), retail sales of cultural and recreation goods (+8.2%), and retail sales not in stores, stalls, or markets (+19.2%).

According to Mohd Uzir, sales of the retail trade sub-sector increased by 1.1% year on year, owing to increases in retail sales in non-specialised stores (+1.4%), retail sales in specialised stores (+2.1%), and retail sales of automotive fuels (+1.1%).

Meanwhile, the wholesale trade sub-sector increased 7.3% year on year to RM59.9 billion, primarily due to other specialised wholesale, which increased 3.1% or RM0.7 billion to RM22.7 billion.

“Other groups that contributed to this growth included wholesale of household goods (+18.8%), wholesale of agricultural raw materials and live animals (+11.8%), wholesale of machinery, equipment, and supplies (+3.6%), wholesale of food, beverages, and tobacco (+3.7%), wholesale on a fee or contract basis (+17.9%), and non-specialised wholesale trade (+5.9%),” he said.

Dato’ Sri Dr. Mohd Uzir Mahidin (Chief Statistician of Malaysia, Department of Statistics, Malaysia) (Image by: The SunDaily)

However, sales in this sub-sector fell 0.3% year on year, owing to a 1.8% drop in other specialised wholesale.

“The 11.2 percent year-on-year growth in the motor vehicles sub-sector to RM15.7 billion was led by sales of motor vehicle parts and accessories (+49.2 percent) to RM4 billion, followed by motor vehicle maintenance and repair, which increased 62.4 percent or RM0.8 billion to RM2.1 billion,” he said.

In comparison, sales in this sub-sector fell by 3.5% month on month, owing to a 5.9% drop in motor vehicle sales.

Mohd Uzir also stated that the index of retail sales over the internet for October 2022 increased by 17.3 percent year on year, while the seasonally adjusted value index increased by 2.6 percent over the previous month.

According to the volume index, wholesale and retail trade increased by 10.5% year on year in October 2022, with retail trade (+22.3%) and motor vehicles (+3%) contributing.

He stated that wholesale trade increased by 0.8% while the seasonally adjusted volume index decreased by 2.3% month on month.

Info source : The Malaysian Reserve

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