Slight Drop In Wholesale And Retail Trade To Record RM142.3 Billion In Oct: DOSM

Malaysia's Wholesale & Retail Trade recorded sales value of RM142.3 billion, increased 6.5% year-on-year in October 2023. However, sales value fell marginally -0.3% as compared to September 2023. This is reported by Department of Statistics Malaysia (DOSM) in the release of PERFORMANCE OF WHOLESALE & RETAIL TRADE, OCTOBER 2023 on 11th December 2023. The report also presents statistics on sales value and volume index of Wholesale & Retail Trade by sub-sector as well as index of retail sales over the internet.

In a statement, Dato' Sri Dr. Mohd Uzir Mahidin, Chief Statistician Malaysia said, “The increase of 6.5% year-on-year for Wholesale & Retail Trade in October 2023 was driven by Wholesale Trade sub-sector, which rose 5.7% or RM3.4 billion to register RM63.3 billion. Retail Trade also expanded by registering 3.9% or RM2.3 billion to RM60.6 billion, followed by Motor Vehicles with a double-digit growth of 19.1% or RM3.0 billion to settle at RM18.4 billion.”

Meanwhile, the marginal decrease of -0.3% from the previous month was attributed to Wholesale Trade which contracted -1.4%, followed by Retail Trade with -0.8%. On the other hand, Motor Vehicles rebounded 5.2%.

"The growth of 5.7% year-on-year in Wholesale Trade was contributed by Other Specialised Wholesale which rose RM1.7 billion or 7.5% to RM24.4 billion. This was followed by Wholesale of Household Goods (4.7%), Wholesale of Agricultural Raw Materials & Live Animals (8.9%), Wholesale of Food, Beverages & Tobacco (3.3%), Wholesale of Machinery, Equipment & Supplies (3.4%), Non-specialised Wholesale Trade (5.7%), and Wholesale on a Fee or Contract Basis (4.2%). However, for monthly comparison, Wholesale Trade decreased -1.4%, mainly due to Other Specialised Wholesale (-2.8%), Wholesale of Food, Beverages & Tobacco (-2.5%), and Wholesale of Agricultural Raw Materials & Live Animals (-3.5%)."

Commenting further on Retail Trade sub-sector, the increase of 3.9% year-on-year in this month was supported by Retail Sales in Non-specialised Stores which grew 6.1% or RM1.3 billion to RM22.9 billion. Other groups in this sub-sector also recorded positive growth namely Retail Sales of Food, Beverages & Tobacco (10.8%), Retail Sales in Specialised Stores (2.2%), Retail Sales of Automotive Fuel (4.8%), Retail Sales of Household Goods (2.0%), Retail Sales of Cultural & Recreation Goods (1.5%), Retail Sales in Stalls & Market (5.2%), and Retail Sales Not in Stores, Stalls or Market (0.2%). Conversely, for month-on-month comparison, sales of this sub-sector edged down -0.8%, pulled down by Retail Sales in Non-specialised Stores (-1.2%), Retail Sales in Specialised Stores (-1.1%), Retail Sales of Information & Communication Equipment (-1.4%), and Retail Sales of Food, Beverages & Tobacco (-1.3%).

Dato' Sri Dr. Mohd Uzir Mahidin also informed, “The year-on-year growth of 19.1% for Motor Vehicles sub-sector in this month was fueled by Sales of Motor Vehicles which accelerated 24.6% or RM2.0 billion to record RM10.3 billion. This was followed by Sales of Motor Vehicles Parts & Accessories (16.1%) and Maintenance & Repair of Motor Vehicles (17.7%).

In terms of volume index, Wholesale & Retail Trade for October 2023 registered a year-on-year growth of 4.5%. The expansion was attributed to all sub-sectors namely Motor Vehicles (15.8%), Wholesale Trade (4.7%), and Retail Trade (2.3%). However, for seasonally adjusted volume index, it decreased -2.2% month-on-month.