Malaysia’s distributive trade recorded sales of RM108.1bn in September, dropping by -2.6% yoy following a 10.2% decline in August 2021. The fall marked the fourth straight month of decline and the modest contraction in 4 months. A substantial contraction was recorded in motor vehicle sales which shrank by 20.9% yoy in September. Meanwhile, retail trades fell by 1.1% yoy, while wholesale trade rebounded by +0.9% in September.
Sales value of motor vehicles sub-sector shrank by 20.9% yoy (RM2.9bn) to RM10.8bn, moderating from a 57.6% drop in August. This fall was due to the decline in all sub-components of motor vehicles. A total of 44,275 units were delivered in September 2021, which was 26,775 units or 153.0% higher than the 17,500 units sold in August. On a year-on-year basis, total industry volume (TIV) dropped by 23.3% from 57,758 units sold in the same period a year earlier. Meanwhile, year-todate September 2021, Malaysia's new vehicle sales fell 7.3% to 318,874 units from 344,019 units.
Sales of retail trade decreased by 1.1% yoy or RM0.5bn to RM44.3bn. The negative growth was due to retail sales of other goods in specialised stores (-9.8%) and retail sales of other household equipment in specialised stores (-3.9%). Meanwhile, wholesale trade generated a sales value of RM53.0bn in September, rose by RM0.5bn (+0.9% yoy) due to the increase of wholesale of agricultural raw materials & live animals which up by 8.6% to settle at RM4.6bn. This was followed by wholesale of food, beverages & tobacco 6.3% and other specialised wholesale 3.7%.
On a monthly basis, the sales value of wholesale & retail trade grew by 8.1% in September, extending an 8.0% gain in August. Sales of motor vehicle and retail increased by 85.2% mom and 4.6% mom, respectively. Meanwhile, the wholesale trade sub-sector grew by 2.2% following a 4.7% gain in August.
Source: BIMB Securities Research - 10 Nov 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