Wholesale And Retail Trade Sales Up 5.4% To RM146 Bln In June 2024 - DoSM

Malaysia's wholesale and retail trade grew 5.4% year-on-year (y-o-y) in June 2024, to register sales of RM146.0 billion, according to the Statistics Department Malaysia (DoSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the rise was driven by the retail trade sub-sector, which rose 7.9% to record sales of RM64.1 billion.

Wholesale trade was up by 4.0% to register RM64.9 billion, followed by motor vehicle sales with an increase of 2.0% to settle at RM17.0 billion, he said in a statement.

"On a monthly comparison basis, wholesale and retail trade experienced a slight 1.3% decline against May 2024, due to motor vehicle sales which fell 9.4%," he said.

For the second quarter 2024 (2Q 2024), Mohd Uzir noted that wholesale and retail trade rose 6.4%, underpinned by the retail trade sub-sector which rose 7.4% to RM191.8 billion.

"This was followed by wholesale trade which grew 4.5% to RM193.8 billion. The motor vehicle sub-sector also recorded a 9.9% growth to reach RM53.1 billion," he said.

The chief statistician also highlighted that the Internet retail sale index grew 4.8% y-o-y in June 2024, but the pace of growth moderated against May 2024's 5.2%.

In a separate statement, Mohd Uzir said 2Q 2024 wholesale and retail trade volume index registered a 4.9% growth y-o-y to reach 155.4 points.

The rise was due to a 9.0% growth in the motor vehicle sub-sector to 132.0 points, followed by retail and wholesale trade, which increased 5.5% and 3.1%, respectively.

"The seasonally adjusted volume index for wholesale and retail trade rose 5.3% versus 1Q 2024, supported by motor vehicles (26.7%), retail trade (5.0%) and wholesale trade (3.1%),” he said.