KUALA LUMPUR (May 11): Malaysia’s wholesale and retail activity grew at its fastest pace in three years as bulk buying surged in March during Ramadan and in the shadow of the Iran war.

Wholesale and retail sales value totalled RM169.0 billion in March, an increase of 9.8% when compared to the same month in 2025, Department of Statistics Malaysia said in a statement. The rate is the highest since March 2023, and sharply above February’s 5.3% year-on-year gain.

On a month-on-month basis, distributive trade rose 8.1% in March, reversing the contraction in February.

Retail trade recorded sales of RM72 billion, a 7.5% year-on-year growth, driven by higher sales at supermarkets, mini markets, and department stores. Specialised stores also saw stronger sales of pharmaceuticals, cosmetics, clothing, and jewellery.

Sales of automotive fuels, in particular, surged in March, supported by increased travel activity in conjunction with the Eid al-Fitr celebrations.

The wholesale sector, meanwhile, expanded 15.7% to RM78.4 in March when compared to the same month in 2025, mainly driven by petrol, diesel and lubricants on the back of a spike in crude oil prices. Construction materials, fertilisers, and liquefied petroleum gas also saw higher sales.

However, the motor vehicle sector declined 3.1% in March as sales of vehicles contracted, though there was higher demand for parts and aftermarket accessories, as well as maintenance activities.