Services sector revenue up 6.2 per cent in third quarter

KUALA LUMPUR: Malaysia’s services sector revenue increased by 6.2 per cent to RM449.7 billion in the third quarter of 2019 (Q3 2019), up 6.2 per cent compared with the same period last year, said the Department of Statistics Malaysia (DoSM).

The revenue growth, however, was slightly lower than the 6.5 per cent recorded in Q2 2019.

In a statement yesterday, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the growth was driven by wholesale and retail trade, as well as food and beverages (F&B) and accommodation segments, which rose six per cent year-on-year (y-o-y) to RM358.6 billion.

He said the growth was also contributed by information and communication, and transportation and storage segment, which grew 6.6 per cent year-on-year (y-o-y) to RM64.5 billion.

On a quarterly basis, he said total revenue for the country’s services sector recorded an increase of RM8.4 billion, or a growth of 1.9 per cent.

Meanwhile, Mohd Uzir said the number of persons

The growth was driven by wholesale and retail trade sub-sector, with an increase of 40,418 persons or 2.2 per cent, followed by F&B sub-sector with 38,053 persons (up 4.6 per cent).

Datuk Seri Dr Mohd Uzir Mahidin

engaged in the services sector improved 2.5 per cent y-o-y to 3.8 million persons in the period under review.

“The growth was driven by wholesale and retail trade sub-sector, with an increase of 40,418 persons or 2.2 per cent, followed by F&B subsector with 38,053 persons (up 4.6 per cent),” he said.

On quarterly performance, he said the number of persons engaged increased by 571 persons or 0.02 per cent.

In terms of salaries and wages, Mohd Uzir said the amount paid in Q3 2019 also grew 4.1 per cent y-o-y to RM25.4 billion, propelled by wholesale and retail trade sub-sector with an increment of RM446.5 million or 3.6 per cent y-o-y.

“On quarterly basis, salaries and wages recorded an increase of RM199.4 million (or up 0.8 per cent),” he added.

Meanwhile, in a separate statement, Mohd Uzir said the country’s Q3 2019 volume index of services grew 6.2 per cent y-o-y to 130.7 points, slightly lower than the 6.4 per cent y-o-y increase in Q2 2019.

Seasonally adjusted volume index of services sector went up 2.6 per cent to 130.5 points as compared to the previous quarter, he said.

“The main contributors to the increase of services sector in Q3 2019 were wholesale and retail trade, F&B and accommodation segment (up 6.6 per cent y-oy), followed by others services segment (up 6.3 per cent yo-y), as well as information and communication, and transportation and storage segment (up 6.2 per cent y-oy),” he added. — Bernama