DOSM: Malaysia Wholesale, Retail Trade Jumps as Car Sales Spike Over 1,000%

Malaysia's June 2022 wholesale and retail trade value jumped 44% while its volume rose 35.8% from a year earlier, led by a spike in car sales value of 1,642.8% and volume of 1,529.9%, according to the Department of Statistics Malaysia (DOSM) on Thursday (Aug 11).


"Sales value of wholesale and retail trade recorded RM132.8 billion in June 2022, registered a growth of 44% year-on-year. The positive growth was contributed by all sub-sectors, namely motor vehicles 1,642.8%, retail trade 38.4%, and wholesale trade 19.3%.


"In terms of volume index, wholesale and retail trade registered a growth of 35.8% year-on-year to record 144.3 points. The increment was supported by the increase of motor vehicles 1,529.9%, retail trade 31.3%, and wholesale trade 10.7%," the DOSM said in a statement.


In monthly terms, Malaysia's June 2022 wholesale and retail trade volume was down 2.3% from May 2022, said the statistics department.


Compared to a year earlier, Malaysia's June 2022 wholesale and retail trade value grew 44% compared to May 2022's year-on-year rise of 19.6%, according to the DOSM.


The DOSM said the country's June 2022 wholesale trade value rose 19.3% to RM60.5 billion from a year earlier, retail trade value climbed 38.4% to RM56.2 billion while motor vehicle sales value spiked 1,642.8% to RM16.1 billion.


The June 2022 motor vehicle sales value spiked 1,642.8% y-o-y compared to May 2022's 20.1% y-o-y rise, according to the DOSM.


Meanwhile, Malaysia's June 2022 wholesale and retail trade volume index rose 35.8% to 144.3 points from a year earlier compared to May 2022's y-o-y rise at 14.7%, the DOSM said.


June 2022 wholesale trade volume rose 10.7% from a year earlier, retail trade volume climbed 31.3% while motor vehicle trade volume increased 1,529.9%, according to the DOSM.


The June 2022 motor vehicle sales volume spiked 1,529.9% y-o-y compared to May 2022's 19.6% y-o-y rise, according to the DOSM.


For the second quarter of 2022 (2Q22), the DOSM said Malaysia's wholesale and retail trade sales value rose 25.3% to RM390.3 billion from a year earlier.


In quarterly terms, 2Q22 wholesale and retail trade sales value climbed 8.1% from the preceding 1Q22, according to the DOSM.


Meanwhile, the nation's 2Q22 wholesale and retail trade volume index was up 19.3% from a year earlier, said the statistics department.


In a separate statement, the DOSM said that in 2Q22, the volume index of wholesale and retail trade registered a growth of 19.3% to reach 142.2 points compared to the same quarter of the previous year.

"Meanwhile, for quarter-on-quarter comparison, volume index also increased 5.6% in this quarter (2Q22)," the DOSM said.


The DOSM, however, did not provide cumulative 1H22 figures for Malaysia's wholesale and retail trade sales value and volume index.


Source: The Edge Markets

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