Malaysia’s wholesale & retail trade moderated further to 10-month low, grew 12.4% YoY in January 2023 and recorded the monthly sales value amounting to RM135.1bn. The positive growth was contributed by all sub-sectors albeit at a slower pace.
By sub-sectors, growth in retail trade eased to 21.7%, from a 22.7% gain in the prior month, but recorded an increase of RM10.6bn in sales value to RM59.6bn in January. It was the slowest expansion in retail activity since April last year, as sales grew at softer rates for other household equipment (Jan: 10.9%; Dec: 12.6%), other goods in specialized stores (Jan’23: 29.1%; Dec’22: 30.7%) and non-specialized stores (Jan’23: 24.6%; Dec’22: 24.7%). Meanwhile, wholesale trade went up to 3.1% YoY or RM1.8bn to RM60.4bn. The increase was attributed to Wholesale of Household Goods which registered an increase of 8.6%. This was followed by Wholesale of Food, Beverages & Tobacco (7.6%) and Wholesale of Agricultural Raw Materials & Live Animals (12.8%). Sales value of motor vehicles sub-sector expanded with 20.1% YoY or RM2.5bn to RM15.2bn. The increase was attributed to Sales of Motor Vehicles which elevated 25.0%, followed by Sales of Motor Vehicles Parts & Accessories (15.9%), Maintenance & Repair of Motor Vehicles (16.8%) and Sales, Maintenance & Repair of Motorcycles (12.1%).
Meanwhile, performance in online retail sales slowed with online retail sales index, which portrays e-commerce activity online sales recorded 9.6% YoY growth (Dec: 10.2%; Nov: 9.3%; Oct 17.3%). For seasonally adjusted value, the index rose 1.3% MoM (Dec: 2.9%; Nov: -6.0%; Oct: 2.6%).
On a monthly basis, the sales value of wholesale & retail trade declined 1.6%, mainly due to Motor Vehicles which dropped 134%. Growth in retail trade and wholesale trade moderated by 0.2% and 0.1%, respectively.
Source: BIMB Securities Research - 14 Mar 2023
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 09, 2024
Created by kltrader | Aug 09, 2024