KUALA LUMPUR – The service sector’s revenue increased by 1.7% quarter-on-quarter (q-o-q) to RM435.9 billion in the fourth quarter of 2020 (Q4 2020) compared to Q3 2020, said the Statistics Department.
Chief statistician Datuk Seri Mohd Uzir Mahidin said the growth was driven by the wholesale and retail trade, food and beverages and accommodation segments (which increased 1.5% to RM351.3 billion), and information and communication and transportation and storage segments, which improved 3.4% to RM61.9 billion.
Meanwhile, year-on-year (y-o-y), total revenue in Q4 2020 decreased by 5.1% to RM23.3 billion, while 2020 revenue was down 8.1% y-o-y to RM1.63 billion from RM1.78 billion previously, he said.
Uzir said the number of persons engaged in the sector decreased by 0.3% q-o-q to 3.7 million, attributing it to the declines in the information and communication (-4.4%) and transportation and storage sub-sectors (-0.8%).
“In terms of y-o-y, the number of persons engaged decreased by 3.4% or 128,705 persons in Q4 2020,” he said in a statement today.
Salaries and wages paid also showed a decrease of RM25.9 million q-o-q, contributed by the 3.2% q-o-q or RM37.0 million decline in the education segment.
Y-o-y, salaries and wages paid in Q4 2020 recorded a decrease of 4.5% to RM24.7 billion, he said.
Meanwhile, the volume index of services registered an increase of 0.3% q-o-q, from 123.4 points in Q3 2020 to 123.8 points in Q4 2020.
Uzir attributed the performance to the increase in the wholesale and retail trade, food and beverages and accommodation segments (+1.1%) and business services and finance segments (+0.9 per cent).
In terms of y-o-y, the volume index of services declined by 7.1% to 123.8 points in Q4 2020.
“Overall, this index decreased 8% in 2020 to 118.6 points from 128.9 points in 2019,” he added. – Bernama, February 9, 2021
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