Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 10): Malaysia’s volume index of wholesale and retail trade plunged 23.4% to register 97.8 points in the second quarter of 2020 (2Q20) compared to the same period in 2019, according to the Department of Statistics Malaysia (DOSM).

Its chief statistician Datuk Seri Mohd Uzir Mahidin said this was the largest decline since the data series began in 2008. 

Meanwhile, the volume index shrank 23.2% month-on-month.

He also pointed out that as compared to the same period in 2019, motor vehicles sub-sector suffered the most to record -48% growth mostly due to sales of motor vehicles, which fell 50.7%, as well as sales of motor vehicle parts and accessories, which dropped 47.5%.

“The implementation of Movement Control Order (MCO) has led to the closure of showrooms, car dealers and service centres and thus affected the sales of vehicles and spare parts to customers,” he said.

This sub-sector also contracted 43.8% as against the preceding quarter.

On the same note, the chief statistician also added that volume index of retail trade recorded -21.2% growth as against the same quarter in 2019, dragged down by retail sale of other goods in specialised stores, which registered -34.1% growth, meanwhile retail sale of cultural and recreation goods recorded -33.3% growth. Quarter-on-quarter, the volume index also recorded a negative growth of 22.4%.

Meanwhile, DOSM said the wholesale trade volume index declined 19.3% within the same period a year ago.

“The decline was attributed to other specialised wholesale of -33% and wholesale of machinery, equipment and supplies of -23.8%. As compared to [the] first quarter of 2020, the volume index also tumbled 19.2%,” said DOSM.

As for quarterly comparison, Datuk Seri Mohd Uzir said the seasonally adjusted volume index of wholesale and retail trade contracted 23.1% as against 1Q20.

“Motor vehicles sub-sector recorded a negative growth of 45.4%. Meanwhile, retail trade and wholesale trade sub-sectors slipped 20.7% and 20.2% respectively as compared to the previous quarter,” he said.

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