Malaysia’s wholesale and retail trade hits RM1.3t in 2021
Published on: Thursday February 10, 2022
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 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%. “Regarding 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 vehicles automobiles (137.1 percent), retail trade (8.5 percent) and wholesale trade (6.0 percent),” he noted. Mohd Uzir added that the volume index of the wholesale and retail trade ended 2021 with 124.1 points after growth of 2.1% due to wholesale and retail trade, which increased by 3.8% and 3.4%, respectively. Regarding the pre-pandemic comparison, the sector remained below the 2019 figure with a negative of 4.2%, dragged down by the motor vehicle 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? View available subscription plans.