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Malaysia: Wholesale, retail trade rebounds 26.3% to RM84.4b in May
KUALA LUMPUR: Wholesale and retail trade rose by RM17.5 billion or 26.3 per cent month-on-month (m-o-m) to RM84.4 billion in May 2020 compared to April 2020.
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said this was due to the reopening of almost all economic sectors and business activities starting May 4, under the Conditional Movement Control Order.
“The motor vehicles’ sub-sector contributed the most to this increase at RM6.8 billion, an increase of RM6.0 billion or 709.0 per cent m-o-m.
“This was followed by retail trade which rose RM8.6 billion or 30.5 per cent m-o-m to RM36.9 billion, and wholesale trade, which expanded by RM3.0 billion or 8.0 per cent m-o-m to RM40.7 billion, ” he said in a statement today.
Meanwhile, online retail sales grew by 9.3 per cent m-o-m and expanded 39.3 per cent year-on-year (y-o-y).
Mohd Uzir said despite the positive m-o-m growth, sales of wholesale and retail trade contracted by 23.8 per cent y-o-y, the third consecutive y-o-y decline after March 2020 and April 2020.
“Wholesale trade sub-sector registered the biggest fall among sub-sectors with RM12.6 billion or -23.6 per cent y-o-y.
“Similarly, retail trade decreased RM7.2 billion or -16.2 per cent y-o-y while motor vehicles was also down RM6.6 billion or -49.5 per cent y-o-y, ” he said.
In terms of volume, wholesale and retail trade rose 30.3 per cent m-o-m in May 2020 due to the 763.3 per cent growth in the motor vehicle sub-sector, said Mohd Uzir.
“Retail trade and wholesale trade also posted positive growth of 32.9 per cent m-o-m and 12.0 per cent m-o-m respectively during the month, ” he added. – Bernama
Source: https://www.thestar.com.my/business/business-news/2020/07/09/wholesale-retail-trade-rebounds-263-to-rm844b-in-may#cxrecs_s