Malaysia's services sector revenue hits RM2.3T in 2023

KUALA LUMPUR: Malaysia’s services sector saw its total revenue increase to RM2.3 trillion in 2023, an 8.4 per cent rise compared to 2022’s RM2.1 trillion, the Department of Statistics Malaysia (DOSM) reported.

Chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said the performance improvement was spurred by the wholesale and retail trade sub-sector, which improved by 7.7 per cent or RM119.1 billion, and the transportation and storage; and information and communication sub-sectors, which improved by 15.8 per cent (RM20.4 billion) and 5.3 per cent (RM8.6 billion), respectively compared to 2022.