MARCH WHOLESALE, RETAIL TRADE UP 5.2% TO RM145.7 BLN - DOSM

Malaysia's wholesale and retail trade recorded a 5.2% rise in March 2024 with monthly sales of RM145.7 billion versus the same month a year ago, according to the Statistics Department Malaysia (DOSM).

In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said this was driven by a 7.1% rise, or RM4.2 billion, in the retail trade sub-sector to RM62.8 billion.

“Wholesale trade expanded by 4.0%, or RM2.5 billion to RM64.1 billion, followed by motor vehicles with a growth of 3.2%, or RM0.6 billion, to settle at RM18.8 billion,” he said.

March saw a 3.3% rise against February 2024's RM141.1 billion, contributed by a 3.0% rise in wholesale trade followed by vehicles (8.3%) and retail sub-sectors (2.1%).

The first three months of 2024 registered wholesale and retail trade of RM429.2 billion, the statement said.

On sub-sector performance, he said the 7.1% year-on-year growth in March's retail was contributed by non-specialised store sales which grew by 8.4% (RM1.9 billion) to RM24.2 billion.

“For a month-on-month comparison, retail sales rose 2.1%, supported by non-specialised stores (2.6%), specialised stores (1.8%) and household goods (1.7%),” he said.

The 4.0% rise in March 2024's wholesale trade was supported by specialised sales which rose by 4.5% (RM1.0 billion) to RM24.1 billion, food, beverages and tobacco (5.4%), household goods (3.5%), agricultural raw materials and live animals (3.2%), machinery, equipment and supplies (1.4%), non-specialised wholesale trade (2.5%) and wholesale on a fee or contract basis (2.0%).

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In a series of slide presentations, DOSM said Malaysia's wholesale and retail trade volume index registered 3.7% y-o-y growth to reach 152.8 points in the first quarter of 2024 (1Q2024) due to the motor vehicles sub-sector which grew 4.7% to 134.1 points, followed by retail and wholesale which rose 3.8% and 3.5%, respectively.

The positive 4.7% growth in the motor vehicle volume index was supported by parts and accessories sales (12.1%), maintenance and repair (8.5%) and sales (4.3%).