Malaysia’s wholesale, retail trade set new sales record in May

KUALA LUMPUR (July 8): Malaysia’s wholesale and retail trade set a new sales record in May 2022, growing by 19.9% ​​year-on-year (yoy) to RM129.8 billion, the highest sales recorded since 2013, said the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin attributed the increase to the retail trade sub-sector, which rose by RM13 billion or 29.9% yoy to RM56.3 billion, adding that wholesale trade also expanded 11.7% yoy or RM6.3 billion to RM59. .6 billion.

“Sales of motor vehicles also surged 20.1% yoy or RM2.3 billion to RM13.9 billion.

“Generally, the overall increase of RM21.5 billion in wholesale and retail trade can be attributed to the lifting of movement restrictions, which enabled Hari Raya Aidilfitri to be celebrated joyfully,” he said in a statement on Friday (July 8).

Mohd Uzir said the retail trade sub-sector’s growth was supported by retail sales in non-specialized stores, which grew 36.3% or RM5.5 billion to RM20.7 billion.

Likewise, other groups in this sub-sector also recorded positive growth, including retail sales in specialized stores (+ 30.8%), retail sales of automotive fuels (+ 54.6%), retail sales of household goods (+ 23.7%), and retail sales of food, beverages and tobacco (+ 21.4%).

“Other groups also recorded positive growth, namely retail sales of cultural and recreation goods (+ 20.1%), retail sales of information and communications equipment (+ 8%), retail sales not in stores, stalls or markets (+ 27%), and retail sales in stalls and markets (+ 24%), ”he said.

Meanwhile, the expansion in wholesale trade was mainly due to growth in the wholesale of household goods, which increased 22.1% or RM2.2 billion to RM11.9 billion.

Groups that contributed to the growth include other specialized wholesale (+ 8.8%), wholesale of agricultural raw materials and live animals (+ 17.7%), wholesale of food, beverages and tobacco (+ 7.4%), wholesale of machinery, equipment and supplies (+ 10.1%), wholesale on a fee or contract basis (+ 12%), and non-specialized wholesale trade (+ 3.8%).

On a month-on-month basis, sales value of wholesale and retail trade in May 2022 increased by 1.4% from April 2022, contributed by the retail trade sub-sector, which rose by 5.1%.

Mohd Uzir said the index of retail sales over the Internet for May 2022 also recorded a 25.9% growth yoy (April 2022: 24.9%).

In terms of the volume index, the DOSM reported that wholesale and retail trade in May 2022 registered a yoy growth of 14.7%, driven by the retail trade and motor vehicle segments, which increased by 24.2% and 21.5% respectively.

Similarly, wholesale trade also recorded a positive growth of 3.1%.

Read also:
Malaysia’s industrial output grew 4.1% in May 2022 from a year earlier

Leave a Reply

Your email address will not be published.

Back to top button