Malaysia’s sales value of wholesale and retail trade plunged 36.6% yoy or RM38.5bn to RM66.9bn in April, which was the biggest decline in history after recording a decrease of 5.7% in March. The decline was caused by retail trade which dropped RM13.5bn. Similarly, motor vehicles and wholesale trade also declined by RM11.5bn and RM13.5bn, respectively.
The steepest fall was recorded by motor vehicles which plummeted -93.2% yoy, mostly due to abrupt drop in sales of motor vehicles of -93.7%. During MCO, car dealership centres and showrooms were not allowed to operate, thus affecting the sales of vehicles to customers. Wholesale trade also fell 26.3% yoy, due to the disruption in the overall supply and demand chain domestically and globally due to Covid-19. Non-specialised wholesale trade and other specialised wholesales recorded the biggest fall of 45.2% and 39.4% respectively.
Retail sales slumped 32.4% yoy in April, the steepest decline since the series began in January 2013, following a 6.6% fall in the previous month. Among the groups that contributed to the negative growth were sale of other goods in specialised stores (- 56.8%); sale of automotive fuel in specialised stores (Apr: -56.3%; Mar: -14.4%; Feb: 3.1%); sale of cultural & recreation goods in specialised stores (Apr: -53.2%; Mar: - 12.0%) and sale of other household equipment in specialised stores (Apr: -48.3%; Mar: -14.4). In addition, sales growth eased for food, beverages & tobacco (Apr: +1.9%; Mar: +2.6%). By contrast, sales via stalls and markets continued to increase (Apr: +4.3%; Mar: +1.7%).
On monthly basis, sales value of distributive trade decreased RM36.3bn or -35.2% when compared to -5.3% declined in March. Monthly sales of retail trade plunged 30.5%, the fourth straight month of decline, following a 9.9%slump in March whilst sales value of motor vehicles was lower by -92.2%. Sales of wholesale trade also declined 27.2% mom.
Source: BIMB Securities Research - 11 Jun 2020
Created by kltrader | Jul 17, 2024
Created by kltrader | Jul 17, 2024
Created by kltrader | Jul 17, 2024