Malaysia’s Wholesale and Retail Trade Hits RM1.3t in 2021 | Daily Express Online


Malaysia’s wholesale and retail trade to reach RM1.3t in 2021

Published on: Thursday February 10, 2022

By: Bernama

Text size:

The 3.5% increase in wholesale and retail trade in December was attributable to the retail trade subsector. (The Malaysian Reserve)

Kuala Lumpur: Malaysia’s wholesale and retail trade recorded the highest monthly sales value at RM120.5 billion in December, with annual sales growing 4% to RM1.3 trillion. RM in 2021 compared to the previous year, according to the Department of Statistics Malaysia. (DOSM). On a monthly comparison, the value of wholesale and retail sales rose 2.5%, supported by the reopening of various economic sectors, including interstate travel. Recall that sales for the whole of 2020 contracted by 5.9%, a historic low. In a statement, Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the performance in 2021 was supported by wholesale trade, which grew by 6.4% to RM641.8 billion, followed by trade in retail which increased by 4.4% to RM533.6 billion.

On the other hand, the motor vehicles sub-sector recorded a decline in sales compared to 2020, down 8.2% to RM124 billion. Compared to pre-pandemic sales in 2019, the sector contracted by 2.0%. On a month-to-month basis, the 3.5% rise in wholesale and retail trade in December was driven by the retail trade subsector, which rose 3.5% to RM48.5 billion, mainly due to the 6% growth in non-specialized trade. stores at RM18 billion. However, specialty store retail sales remained negative, contracting 3.1%. The Internet retail sales index for December recorded a growth of 20.7% compared to a year ago. At the wholesale level, wholesale also increased with a growth of 4.1% to RM57.6 billion in December 2021, driven by an 8.1% expansion to RM11.5 billion. RM in food, beverages and tobacco, followed by agricultural raw materials and live animals with Growth of 14.7% to RM4.7 billion. Similarly, other specialist wholesalers increased by 2.3% to RM22.5 billion. Month over month, wholesale trade rose 2.2%, led by household goods which rose 4.4%. Meanwhile, Mohd Uzir said the 1.5% growth recorded in the motor vehicle subsector was mainly attributed to sales of auto parts and accessories which rose 11.7% to 3.5 billion RM. Motor vehicle sales in December fell 4.5%.


On a quarterly comparison, the fourth quarter of 2021 (Q4 2021) saw wholesale trade increase by 5.1% to RM169.7 billion, supporting wholesale and retail trade combined. Retail trade grew by 5.0% to RM142.6 billion. The quarterly motor vehicle subsector also grew by 5.3% to RM42 billion. In a separate statement, Mohd Uzir said the wholesale and retail trade volume index rebounded 1.4% in the fourth quarter of 2021, bringing the overall performance of this index for 2021 to 2.1%. The increase was attributed to the motor vehicle subsector, which rose 3.7%, followed by retail trade at 2.0%. However, wholesale trade edged down 0.03% over the period. For quarter-over-quarter comparison, the volume index jumped 16.3%, supported by motor vehicles which jumped 136.9%. Compared to the fourth quarter of 2019, the volume index increased by 2.1%. “As for the seasonally adjusted volume index, wholesale and retail trade climbed 15.3% compared to the third quarter of 2021.


“All sub-sectors recorded positive growth, namely motor vehicles (137.1%), retail trade (8.5%) and wholesale trade (6.0%),” said he noted. Mohd Uzir added that the wholesale and retail trade volume index ended 2021 with 124.1 points after a growth of 2.1% due to wholesale and retail trade, which increased by 3, 8% and 3.4%, respectively. In terms of the pre-pandemic comparison, the sector remained below the 2019 figure with a negative of 4.2%, dragged down by the motor vehicles sub-sector, which fell by 10.2 %.
* Follow us on Instagram and join our Telegram and/or WhatsApp channels for the latest news you don’t want to miss.

* Do you have access to the Daily Express electronic newspaper and exclusive news online? See available subscription plans.


About Author

Comments are closed.