Malaysia’s wholesale, retail trade rebounds 9.3pct in March 2021

08-May-2021 Intellasia | TheedgeMarkets | 5:02 AM Print This Post

Wholesale and retail trade rose 9.3 percent to RM112.8 billion in March 2021, the first positive year-on-year (y-o-y) growth this year, the Department of Statistics Malaysia (DOSM) said.

In a statement today, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said this increase was contributed by motor vehicles, which surged 40.7 percent or RM4.3 billion to RM15 billion, and similarly, retail trade, which expanded 10.5 percent or RM4.3 billion to RM45 billion.

Wholesale trade also showed an uptick trend, registering an increase of RM1 billion or 1.8 percent to RM52.7 billion, he said.

Likewise, Mohd Uzir said month-on-month (m-o-m) sales value grew 4.4 percent in March 2021, underpinned by motor vehicles, which soared 34.6%.

“Compared to March 2019, which was before the Covid-19 pandemic, sales of wholesale and retail trade also showed a positive growth of 3.0%.

“This was driven by the extra consumers’ disposable income due to withdrawal of i-Sinar, i-Lestari and the increase in commodity prices such as oil palm and rubber,” he noted.

Vehicle sales tax exemption incentives also continue to play a role in stimulating the purchase of motor vehicles.

Mohd Uzir Mahidin said the online retail sales index, which portrays e-commerce activity, continued to record 18.3 percent growth y-o-y.

https://www.theedgemarkets.com/article/malaysias-wholesale-retail-trade-rebounds-93-march-2021

 

Category: Malaysia

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