Wholesale, retail trade sales value up 14.7% in February 2023, says DOSM

• “The retail trade sub-sector’s growth of 19.2% in February 2023 was supported by retail sales in non-specialised stores, which rose by 21.1% or RM3.9 billion to RM22.1 billion.”

KUALA LUMPUR (April 11): The monthly sales value of wholesale and retail trade grew 14.7% to RM134.3 billion in February 2023, according to the Department of Statistics Malaysia (DOSM). 

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin attributed the increase to the retail trade sub-sector, which surpassed the other sub-sectors after expanding by RM9.4 billion or 19.2% to RM58.2 billion, while wholesale trade rose 5.9% or RM3.3 billion to RM59.1 billion.

“The retail trade sub-sector’s growth of 19.2% in February 2023 was supported by retail sales in non-specialised stores, which rose by 21.1% or RM3.9 billion to RM22.1 billion,” he said in a statement on Tuesday (April 11).

Other groups in this sub-sector also recorded positive growth, namely retail sales in specialised stores (24.2%), automotive fuels (45.9%), food, beverages and tobacco (18.4%), household goods (7.5%), information and communication equipment (8.0%), retail sales not in stores, stalls or market (14.0%), and retail sales in stalls and market (21.0%).

Meanwhile, the increase of 5.9% in the wholesale trade sub-sector was due to the wholesale of household goods, which rose RM1.7 billion or 15.8% to RM12.5 billion; followed by food, beverages and tobacco (9.9%), agricultural raw materials and live animals (10.0%), and non-specialised wholesale (6.1%).

However, Mohd Uzir said the sales value of wholesale and retail trade declined by 0.6% month-on-month, dragged down by wholesale trade and retail trade, which decreased by 2.0% and 2.4% respectively.

In terms of volume index, Mohd Uzir said wholesale and retail trade for February 2023 registered a year-on-year growth of 10.6%.

He attributed the expansion to motor vehicles, which increased by 24.0%, while retail trade and wholesale trade grew by 13.9% and 3.4% respectively.