Services sector revenue up 7.6 pct y-o-y to RM403 billion in 1Q18

KUALA LUMPUR: Services sector revenue increased 7.6 per cent to RM403.0 billion in the first quarter 2018 as compared to the same quarter of 2017.

In a statement, the Department of Statistics Malaysia said the highest growth was registered by professional and real estate agents (14.4 per cent) and the health, education and arts, entertainment and recreation (8.1 per cent) segments.

Meanwhile, total revenue on a quarterly basis increased RM3.4 billion or 0.9 per cent.

The number of persons engaged in this sector was at 3.6 million, an increase of 59,518 persons or 1.7 per cent as compared to the same quarter of the previous year.

On a quarterly basis comparison, the number of persons engaged recorded an increase of 0.03 per cent.

In the first quarter 2018, salaries and wages paid was RM23.7 billion, an increase 3.5 per cent as compared to the previous year, with negative growth of 0.5 per cent quarter-on-quarter.

Total revenue for the wholesale and retail trade, food and beverages and accommodation segments recorded growth of 7.4 per cent to RM320.2 billion as compared to the same quarter of 2017.

The food and beverages subsector registered annual growth of 10.4 per cent as compared to other sub-sectors in this segment. It also recorded an increase of 1.3 per cent as compared to the previous quarter.

The number of persons engaged in this segment increased 1.7 per cent to 2.7 million persons as compared to the first quarter of 2017.

Salaries and wages paid grew 3.1 per cent to RM14.2 billion.

Quarter-on-quarter, the number of persons engaged recorded positive growth 0.1 per cent, while salaries and wages paid increased 0.7 per cent.

The information and communication and transportation and storage segments posted an increase of revenue by RM4.2 billion to RM58.7 billion for the first quarter 2018, compared to the same quarter of the previous year.

The growth was propelled by the information and communication sub-sector at RM2.7 billion with a share of 63.0 per cent.

Meanwhile, on a quarterly basis, total revenue for this segment registered a decrease of 2.0 per cent.

The number of persons engaged in it increased 0.9 per cent yearon-year to 469,588 persons, whilst salaries & wages paid also grew to RM4.9 billion (2.0 per cent).

The number of persons engaged decreased by 0.1 per cent, while salaries and wages paid declined 5.4 per cent as compared to the previous quarter.

The health, education and arts, entertainment and recreation segments recorded total revenue of RM15.6 billion, an increase of 8.1 per cent, as compared to RM14.4 billion in the first quarter of 2017.

The increase in revenue for this segment was driven by arts, entertainment & recreation at 40.5 per cent, health (27.8 per cent) and education (31.7 per cent) subsectors.

Total revenue for this segment increased by 3.7 per cent as compared to the previous quarter.

Number of persons engaged increased by 2.1 per cent to 276,725 persons as compared to the corresponding quarter of the previous year.

Salaries and wages paid also increased 5.0 per cent to RM2.3 billion.

On a quarterly basis, number of persons engaged decreased by 0.1 per cent, while salaries and wages paid recorded an increase of 3.4 per cent.

Total revenue for professional and real estate agent segment rose by RM1.1 billion to RM8.5 billion as against the same quarter of the previous year.

This increase was driven by the professional sub-sector at RM1.0 billion (95.7 per cent).

For a quarterly comparison, this segment also recorded an increase to 0.2 per cent.