MALAYSIA'S WHOLESALE & RETAIL TRADE SALES UP 5.5% TO RM141.1 BLN IN FEBRUARY - DOSM

Malaysia's wholesale and retail trade sector recorded a sales value of RM141.1 billion, an increase of 5.5% year-on-year (y-o-y) in February 2024, according to the Department of Statistics Malaysia (DOSM).

In a statement, chief statistician Datuk Sri Mohd Uzir Mahidin said the increase was driven by the retail trade sub-sector, which rose 5.8% or RM3.4 billion to register RM61.5 billion.

“The growth of 5.8% year-on-year for retail trade was supported by retail sales in non-specialised stores which grew 6.7% or RM1.5 billion to RM23.6 billion. 

“Other groups in this sub-sector also recorded positive growth, namely retail sales in specialised stores (9.5%); food, beverages and tobacco (8.0%); household goods (4.0%); automotive fuel (3.4%); cultural and recreation goods (5.4%); not in stores, stalls or markets (1.0%); and retail sales via stalls and markets (3.3%),” he said.

Mohd Uzir said for monthly comparison, the negative growth of -0.9% from the previous month was contributed by wholesale trade which slipped -2.3%, followed by the motor vehicles sub-sector which contracted -1.4%. 

He said the negative growth in wholesale trade was mainly contributed by the decrease in wholesale of food, beverages and tobacco (-5.6%); other specialised wholesale (-1.3%), wholesale of machinery, equipment and supplies (-4.3%), and household goods (-1.3%).

Commenting on the wholesale trade sub-sector, Mohd Uzir said the wholesale trade expanded by registering 5.2% or RM3.1 billion to RM62.2 billion, followed by motor vehicles with a growth of 5.4% or RM0.9 billion to settle at RM17.4 billion.

“The increase of 5.2% year-on-year in February was supported by other specialised wholesale, which rose RM1.6 billion or 7.4% to RM23.7 billion. 

“This was followed by wholesale of food, beverages and tobacco (4.0%); household goods (3.7%), agricultural raw materials and live animals (5.6%), nonspecialised wholesale trade (5.4%), machinery, equipment and supplies (1.7%), and wholesale on a fee or contract basis (0.8%),” he said.

Mohd Uzir said the y-o-y growth of 5.4% for the motor vehicles sub-sector was fueled by sales of motor vehicle parts and accessories, which surged 13.7% or RM0.6 billion to record RM4.9 billion. 

"This was followed by maintenance and repair of motor vehicles (14.1%) and sales of motor vehicles (0.2%).

“Conversely, for monthly comparison, this sub-sector contracted -1.4% due to sales of motor vehicles which dived -4.5%,” he said.

Meanwhile, for the index of retail sales over the internet, Mohd Uzir reported that the index went up 0.4% y-o-y in February 2024 as compared to -1.6% in January 2024. 

However, for seasonally adjusted value, the index edged up 0.4% as against the previous month. 

Additionally, he said the wholesale and retail trade for February 2024 registered a y-o-y growth of 3.9%, in terms of volume index.

“The expansion was attributed to all sub-sectors, namely retail trade (4.5%), wholesale trade (4.3%), and motor vehicles (2.6%),” he said.