Wholesale, retail trade rebounds 26.3% to RM84.4b in May

KUALA LUMPUR – Wholesale and retail trade rose by RM17.5 billion or 26.3% month-on-month (m-o-m) to RM84.4 billion in May 2020 compared to April 2020, as reported on Bernama.

Chief statistician at Department of Statistics Malaysia Datuk Seri Dr Mohd Uzir Mahidin said this was due to the reopening of almost all economic sectors and business activities starting May 4, under the Conditional Movement Control Order (CMCO).

“The motor vehicles’ sub-sector contributed the most to this increase at RM6.8 billion, an increase of RM6.0 billion or 709.0% m-o-m.

“This was followed by retail trade which rose RM8.6 billion or 30.5% m-o-m to RM36.9 billion, and wholesale trade, which expanded by RM3.0 billion or 8.0% m-o-m to RM40.7 billion,” he said in a statement yesterday.

Meanwhile, online retail sales grew by 9.3% m-o-m and expanded 39.3% year-on-year (y-o-y).

Mohd Uzir said despite the positive m-o-m growth, sales of wholesale and retail trade contracted by 23.8% y-o-y, the third consecutive y-o-y decline after March 2020 and April 2020.

“Wholesale trade sub-sector registered the biggest fall among sub-sectors with RM12.6 billion or -23.6% y-o-y.

“Similarly, retail trade decreased RM7.2 billion or -16.2% y-o-y while motor vehicles was also down RM6.6 billion or -49.5% y-o-y,” he said.

In terms of volume, wholesale and retail trade rose 30.3% m-o-m in May 2020 due to the 763.3% growth in the motor vehicle sub-sector, said Mohd Uzir.

“Retail trade and wholesale trade also posted positive growth of 32.9% m-o-m and 12.0% m-o-m respectively during the month,” he added.