August wholesale, retail trade sales value up 10.7pct on year at RM107.9b

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KUALA LUMPUR (Oct 12): Malaysia’s wholesale and retail trade sales value in August 2018 increased 10.7 per cent year-on-year to RM107.9 billion, says the Department of Statistics.

In a statement, Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin attributed the expansion to retail trade, which increased 14.8 per cent, mainly in sales in specialised stores, sales in non-specialised stores and sales of information and communication equipment in specialised stores, in line with the increase in spending by consumers in conjunction with the tax holiday.

“Sales of motor vehicles grew 10.6 per cent within the same period mainly due to the zero-rated implementation of the Goods and Services Tax before the reintroduction of the Sales and Services Tax on Sept 1, 2018,” he said.

On a month-on-month basis, the sales value increased 1.3 per cent driven by wholesale trade (3.6 per cent) and retail trade (0.1 per cent) within the same period.

The volume index for wholesale and retail trade increased 10.5 per cent compared with August 2017 to register 174.4 points, mainly supported by retail trade, which grew 13.9 per cent.