Malaysia’s Wholesale & Retail Trade recorded sales value of RM142.3 billion, increased 6.5 per cent year-on-year in October 2023. However, sales value fell marginally -0.3 per cent as compared to September 2023. This is reported by Department of Statistics Malaysia (DOSM) in today’s release of PERFORMANCE OF WHOLESALE & RETAIL TRADE, OCTOBER 2023. The report also presents statistics on sales value and volume index of Wholesale & Retail Trade by sub-sector as well as index of retail sales over the internet.
In a statement today, Dato’ Sri Dr. Mohd Uzir Mahidin, Chief Statistician Malaysia said, “The increase of 6.5 per cent year-on-year for Wholesale & Retail Trade in October 2023 was driven by Wholesale Trade sub-sector, which rose 5.7 per cent or RM3.4 billion to register RM63.3 billion. Retail Trade also expanded by registering 3.9 per cent or RM2.3 billion to RM60.6 billion, followed by Motor Vehicles with a double-digit growth of 19.1 per cent or RM3.0 billion to settle at RM18.4 billion.”
Meanwhile, the marginal decrease of -0.3 per cent from the previous month was attributed to Wholesale Trade which contracted -1.4 per cent, followed by Retail Trade with -0.8 per cent. On the other hand, Motor Vehicles rebounded
5.2 per cent.
“The growth of 5.7 per cent year-on-year in Wholesale Trade was contributed by Other Specialised Wholesale which rose RM1.7 billion or 7.5 per cent to RM24.4 billion. This was followed by Wholesale of Household Goods (4.7%), Wholesale of Agricultural Raw Materials & Live Animals (8.9%), Wholesale of Food, Beverages & Tobacco (3.3%), Wholesale of Machinery, Equipment & Supplies (3.4%), Non-specialised Wholesale Trade (5.7%), and Wholesale on a Fee or Contract Basis (4.2%). However, for monthly comparison, Wholesale Trade decreased -1.4 per cent, mainly due to Other Specialised Wholesale (-2.8%), Wholesale of Food, Beverages & Tobacco (-2.5%), and Wholesale of Agricultural Raw Materials & Live Animals (-3.5%).”
Commenting further on Retail Trade sub-sector, the increase of 3.9 per cent year-on-year in this month was supported by Retail Sales in Non-specialised Stores which grew 6.1 per cent or RM1.3 billion to RM22.9 billion. Other groups in this sub-sector also recorded positive growth namely Retail Sales of Food, Beverages & Tobacco (10.8%), Retail Sales in Specialised Stores (2.2%), Retail Sales of Automotive Fuel (4.8%), Retail Sales of Household Goods (2.0%), Retail
Sales of Cultural & Recreation Goods (1.5%), Retail Sales in Stalls & Market (5.2%), and Retail Sales Not in Stores, Stalls or Market (0.2%). Conversely, for month-on-month comparison, sales of this sub-sector edged down -0.8 per cent, pulled down by Retail Sales in Non-specialised Stores (-1.2%), Retail Sales in Specialised Stores (-1.1%), Retail Sales of Information & Communication Equipment (-1.4%), and Retail Sales of Food, Beverages & Tobacco (-1.3%).
Dato’ Sri Dr. Mohd Uzir Mahidin also informed, “The year-on-year growth of 19.1 per cent for Motor Vehicles sub-sector in this month was fueled by Sales of Motor Vehicles which accelerated 24.6 per cent or RM2.0 billion to record RM10.3 billion. This was followed by Sales of Motor Vehicles Parts & Accessories (16.1%) and Maintenance & Repair of Motor Vehicles (17.7%).
In terms of volume index, Wholesale & Retail Trade for October 2023 registered a year-on-year growth of 4.5 per cent. The expansion was attributed to all sub-sectors namely Motor Vehicles (15.8%), Wholesale Trade (4.7%), and Retail Trade (2.3%). However, for seasonally adjusted volume index, it decreased -2.2 per cent month-on-month.
