KUALA LUMPUR (April 8): Malaysia’s wholesale and retail sales grew 5.5% in February from a year earlier, thanks largely to sales in both specialised and non-specialised stores, official data on Monday showed.
Wholesale and retail trade totalled RM141.1 billion, the Department of Statistics said in a statement. The pace of sales growth was marginally faster than January’s 5.4% year-on-year increase. However, distributive trade contracted 0.9% on a month-on-month basis, marking the second consecutive monthly decline.
The retail sector rose 5.8% to RM61.5 billion while the wholesale segment expanded 5.2% to RM62.2 billion, and motor vehicles grew 5.4% to RM17.4 billion.
The year-on-year growth in retail sales was mainly led by sales in non-specialised stores, which grew 6.7%, and specialised store sales, which surged 9.5%. The wholesale trade sector, meanwhile, was supported by other specialised wholesale, which rose 7.4% in February, and wholesale of food, beverages and tobacco.
On a month-on-month basis, wholesale trade slipped 2.3% and motor vehicle sales fell 1.4% though retail trade inched up 0.7% in February.