Services Sector Revenue Rises By Record RM560.3 Billion In 1Q2023

Malaysia’s services sector revenue registered a double-digit growth of 13.1 per cent in the first quarter of 2023 to record a total of RM560.3 billion, as reported by the Department of Statistics, Malaysia (DOSM).

The Quarterly Services  Statistics, First Quarter 2023 which was officially released today (May 10), presents statistics  on the Services sector, which encompasses the sub-sectors of Wholesale & Retail  Trade; Information & Communication; Transportation & Storage; Food & Beverages;  Professional; Private Health; Private Education; Accommodation; Arts, Entertainment  & Recreation; Real Estate; Administrative & Support Service; Personal Services &  Other Activities, and Income of e-Commerce.

Chief Statistician Malaysia, Dato’ Sri Dr. Mohd Uzir Mahidin said “Services sector  performance in the first quarter of 2023 was driven by Wholesale & Retail Trade, Food  & Beverages, and Accommodation segment, which increased 13.1 per cent to  RM428.2 billion. These were followed by Information & Communication and  Transportation & Storage, and Professional, Real Estate and Administrative & Support  Service segments, which grew by 12.0 per cent and 16.5 per cent to RM77.8 billion  and RM35.3 billion, respectively.”


Meanwhile, for e-Commerce income, the Chief Statistician commented, “it recorded  RM307.2 billion, grew by 10.4 per cent year-on-year in the first quarter of 2023. For quarter-on-quarter comparison, income of e-commerce increased marginally by  1.6 per cent.” 

In terms of analysis by sub-sector, Wholesale & Retail Trade sub-sector recorded the  highest increment with RM46.4 billion, or 12.8 per cent year-on-year. These were  followed by the Transportation & Storage and Food & Beverages sub-sectors which  increased 21.9 per cent and 11.6 per cent, respectively to record RM35.8 billion and  RM17.3 billion in first quarter 2023.

Looking at analysis by quarter-on-quarter comparison, total revenue in the first quarter  of 2023 increased 1.0 per cent or RM5.5 billion. The growth was also propelled by  Wholesale & Retail Trade and Transportation & Storage sub-sectors, which grew 0.6 per cent and 3.6 per cent, respectively. 

Mohd Uzir Mahidin added: “The number of persons engaged in  this sector was 4.4 million persons, increased by 89.6 thousand persons, or 2.1 per  cent year-on-year. The rise was attributed by Wholesale & Retail Trade sub-sector  with an increase of 49.0 thousand persons, or 2.6 per cent, followed by the  Transportation & Storage sub-sectors, which rose by 18.6 thousand persons or 5.4 per cent. For quarter-on-quarter, the number of persons engaged grew by 0.3 per cent,  which amounted to 13.1 thousand persons.”

Salaries and wages paid also registered an increase of RM1.4 billion, or  4.6 per cent year-on-year. The increase was attributed by the Wholesale & Retail  Trade sub-sector, which rose 3.4 per cent to record RM13.9 billion and followed by the  Transportation & Storage sub-sector, which increased 7.0 per cent to record RM2.8 billion. Meanwhile, for quarter-on-quarter comparison, salaries and wages grew 0.7 per cent to register RM31.3 billion in the first quarter of 2023.

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