Malaysia’s Wholesale & Retail Trade recorded the highest monthly sales value amounting to RM143.9 billion in December, with fourth quarter 2023 registered RM428.8 billion. For the whole year of 2023, the total sales reached RM1.7 trillion.
In a statement today, Dato’ Sri Dr. Mohd Uzir Mahidin, Chief Statistician Malaysia said, “The increase of 4.8 per cent year-on-year for Wholesale & Retail Trade in December 2023 was driven by Retail Trade sub-sector, which rose 5.0 per cent or RM3.0 billion to register RM62.4 billion. Wholesale Trade also expanded by registering 4.4 per cent or RM2.6 billion to RM62.9 billion, followed by Motor Vehicles with a growth of 5.9 per cent or RM1.0 billion to settle at RM18.6 billion.”
For monthly comparison, the increase of 1.0 per cent from the previous month was contributed by Retail Trade which went up 1.8 per cent.
For month-on-month comparison, sales of this sub-sector rose 1.8 per cent, supported by Retail Sales in Non-specialised Stores (1.8%), Retail Sales in Specialised Stores (3.2%), Retail Sales of Household Goods (1.3%), and Retail Sales of Food, Beverages & Tobacco (1.9%).”
Elaborating further on quarterly performance, the 5.8 per cent increase in fourth quarter this year for Wholesale & Retail Trade was underpinned by Wholesale Trade sub-sector which rose RM9.8 billion or 5.4 per cent to RM189.4 billion. This
was followed by Retail Trade which elevated 4.5 per cent or RM7.9 billion to record RM184.4 billion. Motor Vehicle sub-sector also grew with 12.3 per cent or RM6.0 billion to reach RM55.0 billion in this quarter. As for quarter-on-quarter comparison, this sector climbed 0.9 per cent.
The Chief Statistician also added, “Wholesale & Retail ended 2023 with 7.7 per cent increase, accumulating the total sales to RM1.7 trillion, spurred by Retail Trade which increased RM59.7 billion or 9.0 per cent to settle at RM720.8 billion. This was followed by Wholesale Trade which expanded with 5.2 per cent to RM747.1 billion. Motor Vehicles sub-sector also recorded higher sales than 2022, increased 12.3 per cent to RM205.7 billion.”
For index of retail sale over the internet, the index slipped -0.4 per cent year-on-year in December 2023 as compared to -1.0 per cent in November 2023. For seasonally adjusted value, the index rebounded 2.3 per cent as against the previous month.
In terms of volume index, Wholesale & Retail Trade for December 2023 registered a year-on-year growth of 3.4 per cent. The expansion was attributed to all sub-sectors namely Motor Vehicles (3.9%), Retail Trade (3.6%), and Wholesale Trade (3.4%). For seasonally adjusted volume index, it decreased -1.4 per cent
month-on-month.
