PETALING JAYA: Malaysia’s wholesale and retail trade recorded the highest monthly sales value amounting to RM143.9 billion in December 2023, with the fourth quarter of the year registering RM428.8 billion.
For the whole of 2023, total sales reached RM1.7 trillion.
In a statement today, Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said, “The increase of 4.8% year-on-year for wholesale and retail trade in December 2023 was driven by the retail trade sub-sector, which rose 5% or RM3 billion to RM62.4 billion. Wholesale trade expanded by 4.4% or RM2.6 billion to RM62.9 billion, followed by motor vehicles with a growth of 5.9% or RM1 billion to RM18.6 billion.”
For monthly comparison, the increase of 1% from November was contributed by retail trade, which went up 1.8%. This was followed by the motor vehicles sub-sector, which grew 2.7%. However, the wholesale trade sub-sector recorded a negative growth of -0.4%.
Looking at the performance across sub-sectors, Mohd Uzir said the growth of 5% year-on-year in retail trade was contributed by sales in non-specialised stores, which grew 6.3% or RM1.4 billion to RM23.8 billion. Other groups in this sub-sector also recorded positive growth namely specialised stores (5.8%), household goods (5.9%), food, beverages and tobacco (9.9%), automotive fuel (2.4%), cultural and recreation goods (2.5%), sales in stalls and markets (6.6%), and sales not in stores, stalls or markets (1.1%).
For month-on-month comparison, sales of the retail sub-sector rose 1.8%, supported by non-specialised stores (1.8%), specialised stores (3.2%), household goods (1.3%), and food, beverages and tobacco (1.9%).”
Mohd Uzir said in the wholesale trade sub-sector, the increase of 4.4% year-on-year in this month was supported by other specialised wholesale, which rose RM1.4 billion or 6.2% to RM23.9 billion. This was followed by household goods (5.3%), agricultural raw materials and live animals (5.4%), food, beverages and tobacco (1.4%), machinery, equipment and supplies (1.1%), non-specialised trade (2.1%), and wholesale on a fee or contract basis (0.4%).
On a monthly basis, wholesale trade continued to record negative growth with -0.4%, mainly due to other specialised wholesale (-1.2%), household goods (-1.7%), and non-specialised trade (-1.3%).
Mohd Uzir said the year-on-year growth of 5.9% for the motor vehicles sub-sector in December was fuelled by sales of motor vehicles parts and accessories, which surged 10.9% or RM0.5 billion to RM4.7 billion. This was followed by sales of motor vehicles (4.4%), and maintenance and repair of motor vehicles (12.3%).
For monthly comparison, the sub-sector expanded 2.7%, attributed to sales of motor vehicles (4.7%), motor vehicle parts and accessories (0.7%), and maintenance and repair of motor vehicles (0.9%).
On quarterly performance, the 5.8% increase in the fourth quarter last year for wholesale and retail rade was underpinned by the wholesale trade sub-sector, which rose RM9.8 billion or 5.4% to RM189.4 billion. This was followed by retail trade which elevated 4.5% or RM7.9 billion to record RM184.4 billion. Motor vehicle sub-sector grew with 12.3% or RM6 billion to reach RM55 billion in the quarter. As for quarter-on-quarter comparison, this sector climbed 0.9%.
Mohd Uzir said, “Wholesale and retail ended 2023 with a 7.7% increase, accumulating the total sales to RM1.7 trillion, spurred by retail trade which increased RM59.7 billion or 9% to settle at RM720.8 billion. This was followed by wholesale trade, which expanded with 5.2% to RM747.1 billion. The motor vehicles sub-sector recorded higher sales than in 2022, up 12.3% to RM205.7 billion.”
