Malaysia’s distributive trade recorded RM108.7bn in July and continued to recover, posting year-on-year growth of -3.5% from -8.4% yoy in June. Although distributive trade declined for the fourth consecutive month in July, this was the highest sales value during Movement Control Order due to Covid-19.
Sales of motor vehicles rebounded 1.7% yoy or an increase of RM0.2bn, attributable to the sales tax exemption for cars highlighted in PENJANA stimulus package. Wholesale trade also improved from -8.7% yoy recorded in June to -4.5% yoy in July and generated sales value of RM50.0bn for the month. Wholesale of household goods (+4.8% yoy) and non-specialised wholesale trade (+4.3% yoy) spearheaded the increment. Retail sales dropped 3.8% yoy following a 9.2% yoy fall in the previous month. It was the fifth consecutive decline in retail trade, but the smallest in the current sequence, amid the reopening of almost all economic sectors and business activities which started in May. Sales via stalls and markets continued to increase (Jul: +12.9%; Jun: +8.9%; May: +4.9%; Apr: +4.3%; Mar: +1.7%) whilst retail trade not in stores, stalls or markets stabled at +9.9% yoy (Jun: +9.8%; May: +10.0%; Apr: +3.7%; Mar: +2.4%). Meanwhile, sales growth eased for sale of other goods in specialised stores (Jul: -10.8%; Jun: -17.1%; May: -28.0%; Apr: -56.8%); sale of automotive fuel in specialised stores (Jul: -7.6%; Jun: -15.8%; May: -27.2%; Apr: - 56.3%); sale of cultural & recreation goods in specialised stores (Jul: -10.5%; Jun: - 18.7%; May: -27.8%; Apr: -53.2%) and sale of other household equipment in specialised stores (Jul: -8.5%; Jun: -16.5%; May: -25.5%; Apr: -48.3%).
On monthly basis, sales value of Wholesale & Retail Trade grew 5.6% in July, contributed mainly by the wholesale trade sub-sector. The wholesale trade sub sector, which contributed the most to the increase of Malaysia’s sales, rose 2.2% to RM50.0bn, followed by motor vehicle, which increased 14.3% to RM13.9bn, while retail trade increased 7.1% to RM44.7bn.
Source: BIMB Securities Research - 14 Sept 2020
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 09, 2024
Created by kltrader | Aug 09, 2024