Wholesale and retail trade up 41%

Wholesale and retail trade up 41%

Improvements seen in sale of household goods, agricultural products, machinery, motor vehicles, as well as food, beverage and tobacco.

Motor vehicle sales have shown the greatest improvement, with an increase of more than 600% in July this year, compared with the same month last year. (Bernama pic)
KUALA LUMPUR:
The total value of Malaysia’s wholesale and retail businesses hit RM130.7 billion in July 2022, registering a 41% growth from the same month last year.

The increase was mostly driven by the RM15.4 billion or 37.5% increase in sales in the retail sub-sector to RM56.6 billion, according to the department of statistics Malaysia (DoSM).

Sales value in the wholesale trade sub-sector rose 20.6% or RM10.2 billion to RM59.7 billion in the same period.

However, on a month-on-month comparison, the sales value declined 1.6%, thanks largely to the 10.5% contraction in motor vehicle sales.

The groups that contributed to the improvement in sales were household goods (35%), agricultural raw materials and live animals (17.8%) machinery, equipment and supplies (20%) and food, beverage and tobacco (7.2%).

Chief Statistician Uzir Mahidin said that in the retail sub-sector, motor vehicle sales rose 613.8% or RM12.4 billion to RM14.4 billion.

The main contributors to this significant expansion are the non-specialised stores where sales grew 39.1% or RM5.9 billion to RM20.8 billion.

“Likewise, other groups in this sub-sector also recorded growth, namely retail sales in specialised stores (47.1%), retail sales of automotive fuels (73.7%), and retail sales of household goods (28.8%),” he said.

Uzir said the 613.8% growth in the motor vehicles sub-sector this month was driven by sales of motor vehicles, which rose by 431.5% or RM5.7 billion, to RM7 billion, followed by sales of motor vehicle parts and accessories; maintenance and repair of motor vehicles; as well as sales, maintenance and repair of motorcycles.

In terms of volume index, Uzir said wholesale and retail trade registered year-on-year growth of 33.7%, contributed by motor vehicles and retail trade which increased by 681.6% and 31.6%, respectively. Similarly, wholesale trade also recorded a growth of 10.8%.

However, on a seasonally adjusted basis, the volume index went down 1.4% month-on-month.

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