Malaysia’s wholesale and retail trade recorded monthly sales value of RM138.0 billion, growing 6.6% year-on-year (y-o-y) in May 2023, said the Department of Statistics Malaysia (DOSM).
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the increase was attributed to the motor vehicle sub-sector, which surged 22.0% or RM3.1 billion to register RM17.0 billion.
“Retail trade also expanded by 5.0% or RM2.8 billion to RM58.8 billion, followed by wholesale trade with an increase of 4.4% or RM2.6 billion to RM62.2 billion,” he said in a statement on Wednesday (July 12).
For month-on-month (m-o-m) comparison, the sales value of wholesale and retail trade rebounded 1.5%, contributed by the motor vehicle sub-sector at 16.2% and wholesale trade at 2.1%.
Mohd Uzir said for the performance across sub-sectors, the double-digit growth of 22.0% in the motor vehicle sub-sector for the month was pushed up by sales of motor vehicles, which jumped 29.8% or RM2.1 billion to RM8.9 billion.
This was followed by sales of motor vehicle parts and accessories (up 17.7%), and maintenance and repair of motor vehicles, which climbed 20.4%.
However, sales, maintenance and repair of motorcycles decreased by 5.0%.
For monthly comparison, this sub-sector bounced back 16.2%, contributed by all groups, mainly sales of motor vehicles at 30.8%.
Mohd Uzir said the volume index of wholesale and retail trade for May registered a y-o-y growth of 4.7% driven by expansion in all sub-sectors, namely motor vehicles (17.8%), wholesale trade (5.3%) and retail trade (2.4%).
He added that the seasonally adjusted volume index declined 4.1% m-o-m.