KUALA LUMPUR: Malaysia’s wholesale and retail trade sector grew by 4.7 per cent year-on-year to achieve sales of RM149.3 billion in November 2024, the second-highest monthly sales achieved so far for the year, according to the Department of Statistics Malaysia (DOSM).
Chief statistician Datuk Seri Mohd Uzir Mahidin said the retail trade sub-sector spearheaded the growth with a 5.8 per cent rise to RM64.8 billion, followed by the wholesale trade sub-sector, which recorded 4.7 per cent higher sales of RM66.2 billion.
Meanwhile, the motor vehicles sub-sector grew by 1.4 per cent to RM18.3 billion, he said in a statement today.
Mohd Uzir said retail trade has shown resilience with sales in non-specialised stores growing by 5.5 per cent and sales in specialised stores increasing by 8.2 per cent.
Retail sales of automotive fuel rose by 6.3 per cent, followed by food, beverages and tobacco with a 6.5 per cent growth, he said.
On the wholesale trade sub-sector, he said wholesale of agricultural raw materials and live animals recorded a significant growth of 13.7 per cent, supported by higher crude palm oil prices which surged 35.4 per cent in November.
The wholesale of household goods recorded a 5.0 per cent growth, followed by the wholesale of food, beverages and tobacco (up 5.2 per cent) and wholesale of machinery, equipment and supplies (up 7.9 per cent).
Regarding the motor vehicles sub-sector, Mohd Uzir said it recorded a slower growth of 1.4 per cent compared to 2.7 per cent in the previous month, largely due to a 4.3 per cent decline in sales of motor vehicles.
The subdued performance of the motor vehicles group can be attributed to consumers holding off on purchases to await potential year-end discounts or rebates, he added. - Bernama
