Highest monthly sales for wholesale, retail

KUALA LUMPUR: Malaysia’s wholesale and retail trade recorded a sales value of RM143.9 billion in December 2023, according to the Department of Statistics Malaysia (DOSM).

In a statement yesterday, the department said wholesale and retail trade sales value for the fourth quarter (4Q) 2023 recorded a total of RM428.8 billion, bringing the whole year’s total sales to RM1.7 trillion.

Chief statistician Datuk Seri Mohd Uzir Mahidin said the increase of 4.8 per cent yearon-year (y-o-y) for wholesale and retail trade in December 2023 was driven by the retail trade sub-sector, which rose 5.0 per cent or RM3.0 billion to register RM62.4 billion.

“Wholesale trade also expanded by registering 4.4 per cent or RM2.6 billion to RM62.9 billion, followed by motor vehicles with a growth of 5.9 per cent or RM1.0 billion to settle at RM18.6 billion,” he said.

Mohd Uzir noted that the 5.8 per cent increase in 4Q 2023 for wholesale and retail trade was underpinned by the wholesale trade sub-sector which rose RM9.8 billion or 5.4 per cent to RM189.4 billion.

In addition, he said the wholesale and retail sales ended 2023 with a 7.7 per cent increase, spurred by retail trade which increased RM59.7 billion or 9.0 per cent to settle at RM720.8 billion.

In a separate statement, DoSM said Malaysia’s volume index of wholesale and retail trade registered a growth of 4.2 per cent y-o-y in 4Q 2023 to reach 153.1 points, bringing the overall performance for 2023 to 5.6 per cent.

The chief statistician said the increase was attributed to the motor vehicles subsector which soared 9.8 per cent, followed by wholesale trade and retail trade which increased 4.6 per cent and 2.9 per cent, respectively.

“For a quarter-on-quarter comparison, volume index edged up 0.8 per cent, supported by motor vehicles which grew 3.7 per cent,” he added.