Wholesale, retail trade volume index rises in Q3

PUTRAJAYA: The volume index of the wholesale and retail trade registered 5% year-on-year growth in the third quarter of 2023.

Within the same period, this index rose 2.5% as compared to second quarter of 2023, according to the Department of Statistics Malaysia (DoSM).

Chief Statistician Malaysia, Datuk Seri Dr Mohd Uzir Mahidin said, “The increase was attributed to motor vehicles sub-sector which soared 11.2%, followed by wholesale trade and retail trade which increased 6.1% and 3.4%, respectively. For quarter-on-quarter comparison, volume index went up 2.5%, supported by motor vehicles which grew 8.5%.

On performance across sub-sectors, Mohd Uzir said that the positive growth of 11.2% in volume index of motor vehicles was supported by sales of motor vehicles parts & accessories and maintenance & repair of motor vehicles with 14.9% and 13.3%, respectively. For quarter-on-quarter comparison, volume index of motor vehicles rebounded 8.5%.

He pointed out that the increase of 6.1% in this sub-sector was contributed by wholesale of agricultural raw materials & live animals with 10.9%. This was followed by other specialised wholesale (9.8%), wholesale on a fee or contract basis (9.4%), wholesale of food, beverages & tobacco (7.2%), and non-specialised wholesale trade (6.1%). For quarter-on-quarter performance, volume index of wholesale trade edged up 2.2% as compared to the previous quarter.

Mohd Uzir added that volume index of retail trade recorded a positive growth of 3.4%, contributed by retail sales of food, beverages & tobacco with 9.6%. This was followed by retail sales of automotive fuel (9.5%), retail sales in non-specialised stores (6.6%), retail sales via stalls & markets (3.8%), and retail sales in specialised stores (2.8%).

For quarterly comparison, volume index of retail trade went up 1.5% as compared to the previous quarter, he said.

“As for seasonally adjusted volume index, wholesale & retail trade declined -0.8% as against the second quarter of 2023 due to the negative growth in all sub-sectors namely, retail trade (-2.8%), motor vehicles (-1.9%), and wholesale trade (-1.7%),” he explained