KUALA LUMPUR – Wholesale and retail trade rose 9.3% to RM112.8 billion in March, the first positive year-on-year (y-o-y) growth this year, said the Statistics Department.
Chief statistician Datuk Seri Mohd Uzir Mahidin in a statement today said this increase is due to a surge in motor vehicle sales at 40.7%, from RM4.3 billion to RM15 billion, and retail trade, which saw a 10.5% increase, from RM4.3 billion to RM45 billion.
Wholesale trade also showed an uptick trend, recording a 1.8% increase of RM1 billion to RM52.7 billion, he added.
Uzir said month-on-month (m-o-m) sales value grew 4.4% in March, underpinned by motor vehicles sales, which soared 34.6%.
“Compared with March 2019, which was before the Covif-19 pandemic, wholesale and retail trade sales also showed a positive growth of 3.0%.
“This was driven by the extra disposable income of consumers due to the withdrawals of i-Sinar and i-Lestari, and the increase in commodity prices, such as oil palm and rubber.”
Vehicle sales tax exemption incentives also continue to play a role in stimulating the purchase of motor vehicles, he added.
Uzir said the online retail sales index, which portrays e-commerce activity, continues to record 18.3% growth y-o-y. – Bernama, May 7, 2021
