The Department of Statistics Malaysia (DOSM) has announced that the services sector’s revenue recorded a 6.8 per cent year-on-year growth in the second quarter of 2024, reaching a total of RM607.1 billion. This information was released in today’s Quarterly Services Statistics report for the second quarter of 2024. The report covers various sub-sectors within the services sector, including Wholesale & Retail Trade; Information & Communication; Transportation & Storage; Food & Beverage; Professional; Private Health; Private Education; Accommodation; Arts, Entertainment & Recreation; Real Estate; Administrative & Support Service; Personal Services & Other Activities, and Income of e-Commerce.
Dato’ Sri Dr. Mohd Uzir Mahidin, Chief Statistician of Malaysia, attributed the 6.8 per cent growth to favourable performances in the Wholesale & Retail Trade, Food & Beverage, and Accommodation segment, which saw a year-on-year increase of 6.4 per cent, up from 5.9 per cent in the second quarter of 2023. Additionally, the Professional, Real Estate, and Administrative & Support Services segment exhibited robust growth, with a 10.2 per cent increase compared to the previous year, resulting in total revenue of RM39.5 billion. The Information & Communication and Transportation segment grew by 6.1 per cent, while the Private Healthcare, Private Education, Arts, Entertainment & Recreation, and Other Personal Services segment saw a notable increase of 12.4 per cent.
In a quarter-on-quarter analysis, the total revenue for the services sector increased by 2.1 per cent compared to the first quarter of 2024. This growth was primarily driven by the Wholesale & Retail Trade, Food & Beverage, and Accommodation segment, which expanded by 2.2 per cent, contributing an additional RM9.9 billion. The Information & Communication and Transportation & Storage segment increased by 1.6 per cent, and the Professional, Real Estate, and Administrative & Support Services segment saw a rise of 2.4 per cent. Meanwhile, the Private Healthcare, Private Education, Arts, Entertainment & Recreation, and Other Personal Services segment grew by 2.2 per cent.
Income from e-Commerce for this quarter reached RM302.4 billion, reflecting a 7.8 per cent increase year-on-year compared to the same quarter last year. Compared to the previous quarter, e-Commerce revenue grew by 3.1 per cent.
The total number of persons engaged in the services sector stands at 4.5 million, an increase of 1.7 per cent year-on-year. This growth was led by the Wholesale & Retail Trade sub-sector, which saw an increase of 2.3 per cent, followed by the Transportation & Storage sub-sector with a 3.6 per cent rise. On a quarter-on-quarter basis, the number of persons engaged grew by 0.5 per cent, adding 20.1 thousand persons.
Salaries and wages in the second quarter increased by 3.5 per cent year-on-year, reaching RM32.6 billion. This increment was attributed to the Wholesale & Retail Trade and Transportation & Storage sub-sectors, which rose by 3.1 per cent and 4.9 per cent, respectively. For quarter-on-quarter comparison, salaries and wages grew by 1.0 per cent.
DOSM has launched OpenDOSM NextGen, a medium providing a catalogue of data and visualisations to facilitate users’ analysis of various data, accessible at OpenDOSM NextGen. DOSM is also conducting the Agricultural Census in 2024. More information can be found at Agricultural Census 2024.
The Government of Malaysia has declared October 20th as National Statistics Day (MyStats Day), with the theme “Statistics is the Essence of Life.” DOSM also commemorates its 75th Diamond Jubilee in 2024.
