Malaysia’s distributive trade recorded sales of RM112.8bn in March, registering a positive growth of 9.3% yoy. This strong expansion was due to strong double-digit growth in motor vehicles trade and retail trade which rose by 40.7% yoy and 10.5% yoy, respectively. Wholesale trade also increased 1.8% yoy during the month.
Sales value of motor vehicles sub-sector surged substantially to record +40.7% yoy (RM4.3bn) to RM15.0bn. This growth was higher due to a spike in the sale of motor vehicles by +60.4% (Feb: +3.8%; Jan: -17.6%) and a reversal in maintenance & repair of motor vehicles to record +7.2% (Feb: -6.3%; Jan: -9.5%). A total of 63,878 units were delivered in March 2021, which was 21,094 units or 49.3% higher than the 42,784 units sold in February. On a year-on-year basis, total industry volume (TIV) doubled the sales (+200.7%) from 21,242 units sold a year earlier.
Sales of retail trade rose 10.5% yoy or RM4.3bn to RM45.0bn. The growth expansion was due to retail sales of automotive fuel in specialised stores (+17.2%%), retail sales of other household equipment in specialised stores (+15.0%) and retail sale of other goods in specialised stores (+13.7%). The sales of essential goods depicted a positive yoy growth, with sales in non-specialised stores registering 7.3% yoy growth to RM16.1bn. This was followed by retail sales of food, beverages and tobacco which rose 7.5% to RM2.8bn. Meanwhile, wholesale trade generated sales value of RM52.7bn in March, an increase of RM0.1bn (+1.8% yoy) mainly due to the increase of wholesale of food, beverages and tobacco which grew 6.5% to settle at RM10.0bn. This was followed by wholesale of machinery, equipment & supplies and wholesale of household goods which rose by 4.9% and 4.5%, respectively. However, other specialised wholesale decreased by 2.5%, while wholesale on a fee or contract basis fell -2.3%.
On a monthly basis, sales value of wholesale & retail trade increased 4.4% in March. Sales of motor vehicle sub-sector spiked 34.6% mom. Sales of wholesale trade rose 0.3% whilst retail trade sub-sector increased 1.7%.
Source: BIMB Securities Research - 10 May 2021
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 09, 2024
Created by kltrader | Aug 09, 2024