Malaysia’s wholesale, retail trade up 152% to RM133.9bil in November 2022

KUALA LUMPUR: Malaysia’s wholesale and retail trade sales grew 15.2 per cent year-on-year (y-o-y) to RM133.9 billion in November 2022, mainly boosted by growth in the retail trade sub-sector, said the Department of Statistics Malaysia (DOSM).

On a month-on-month (m-o-m) basis, the sales value of wholesale and retail trade decreased by 0.1 per cent, contributed by the contraction of motor vehicles (-3.5 per cent) and wholesale trade (-0.3 per cent).

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

“Other groups in this sub-sector also recorded positive growths, namely retail sales in specialised stores (+40.9 per cent), retail sales of automotive fuels (+40.1 per cent), retail sales of household goods (+19.1 per cent), retail sales of information and communication equipment (+13.3 per cent), retail sales of food, beverages and tobacco (+14.7 per cent), retail sales of cultural and recreation goods (+8.2 per cent), retail sales not in stores, stalls or market (+19.0 per cent), and retail sales in stalls and market (+18.3 per cent),” he said in a statement today.

Mohd Uzir said that for the m-o-m comparison, sales of the retail trade sub-sector went up 1.1 per cent contributed by the increase in retail sales in non-specialised stores (+1.4 per cent), retail sales in specialised stores (+2.1 per cent) and retail sales of automotive fuels (+1.1 per cent).

Meanwhile, the wholesale trade sub-sector increased 7.3 per cent to RM59.9 billion y-o-y, mainly attributed to other specialised wholesale which grew 3.1 per cent or RM0.7 billion to RM22.7 billion.

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

However, sales of this sub-sector decreased by 0.3 per cent m-o-m, due to a drop of 1.8 per cent in other specialised wholesale.

“The 11.2 per cent growth y-o-y to RM15.7 billion in the motor vehicles sub-sector was spearheaded by sales of motor vehicle parts and accessories (+49.2 per cent) to RM4 billion, followed by maintenance and repair of motor vehicles, which rose 62.4 per cent or RM0.8 billion to RM2.1 billion,” he said.

For monthly comparison, sales of this sub-sector declined by 3.5 per cent, caused by a drop of 5.9 per cent in sales of motor vehicles.

Mohd Uzir further said that the index of retail sales over the internet for November 2022 recorded a 17.3 per cent growth y-o-y, adding that the seasonally adjusted value index increased by 2.6 per cent against the previous month.

In terms of volume index, wholesale and retail trade for November 2022 registered a y-o-y growth of 10.5 per cent, contributed by retail trade (+22.3 per cent) and motor vehicles (+3 per cent), he said.

He said that wholesale trade also recorded positive growth at 0.8 per cent, whereas the seasonally adjusted volume index went down 2.3 per cent m-o-m. – Bernama

Source: https://www.thestar.com.my/business/business-news/2023/01/11/malaysia039s-wholesale-retail-trade-up-152-to-rm1339bil-in-oct-2022