Malaysia’s wholesale and retail trade sets sales record in May

Malaysia’s wholesale and retail trade sets sales record in May

Sector posts highest sales since 2013

The overall increase of RM21.5 billion in wholesale and retail trade can be attributed to the lifting of the movement restriction, according to DoSM.
KUALA LUMPUR:
Malaysia’s wholesale and retail trade set a new sales record in May 2022, growing by 19.9% year-on-year (y-o-y) to RM129.8 billion – the highest sales recorded since 2013, according to the Department of Statistics Malaysia (DoSM).

Chief Statistician Uzir Mahidin attributed the increase to the retail trade sub-sector, which rose by RM13 billion, or 29.9%, to RM56.3 billion, with wholesale trade expanding 11.7%, or RM6.3 billion, to RM59.6 billion.

“Sales of motor vehicles also surged 20.1% or RM2.3 billion to RM13.9 billion.

“Generally, the overall increase of RM21.5 billion in wholesale and retail trade can be attributed to the lifting of the movement restriction, which enabled Hari Raya Aidilfitri to be celebrated joyfully,” he said in a statement today.

Uzir said the retail trade sub-sector’s growth was supported by retail sales in non-specialised stores which grew 36.3% or RM5.5 billion to RM20.7 billion.

“Likewise, other groups in this sub-sector also recorded positive growth, including retail sales in specialised stores (30.8%), retail sales of automotive fuels (54.6%), retail sales of household goods (23.7%) and retail sales of food, beverages and tobacco (21.4%),” he said.

The expansion in wholesale trade was mainly due to the growth in the wholesale of household goods which increased 22.1%, or RM2.2 billion, to RM11.9 billion.

The index of retail sales over the internet for May 2022 also recorded a 25.9% growth y-o-y.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.