Malaysia’s 3Q19 total services revenue gains 6.2%

By SHAZNI ONG / Pic MUHD AMIN NAHARUL

MALAYSIA’S total services revenue grew 6.2% to RM449.7 billion in the third quarter of 2019 (3Q19) from the same quarter last year, although this was lower than the 6.5% growth recorded in 2Q19, according to data from the Department of Statistics Malaysia (DoSM).

The highest contribution came from the wholesale and retail trade, food and beverage (F&B) and accommodation segment, which rose 6% year-on-year (YoY) to RM358.6 billion.

“The growth (for the segment) was contributed by the wholesale and retail trade (up by 5.7% or RM18.2 billion), and F&B subsectors (up by 12.1% or RM1.9 billion).

For quarterly comparison, this segment recorded a positive growth of 2.6%,” DoSM chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement yesterday. On a quarterly basis, total revenue for the services sector also increased by 1.9% or RM8.4 billion.

Meanwhile, the total number of persons engaged in the services sector increased by 2.5% YoY, or 91,848 to 3.8 million persons from the same quarter last year.

“Quarterly basis indicated that the number of persons engaged also recorded an increase of 571 persons or 0.02%,” Mohd Uzir said.

On salaries and wages, Mohd Uzir said the amount paid in 3Q19 increased by 4.1% to RM25.4 billion against the previous year, while expanding 0.8% quarter-on-quarter.

The country’s volume index of services grew 6.2% to 130.7 points in 3Q19 compared to a year ago, although this was lower than the 6.4% YoY increase in 2Q19.

In terms of distribution, the wholesale and retail trade, F&B and accommodation segment contributed the most, up 6.6%.

“(This was) followed by the other services segment (6.3%), and the information and communication, transportation and storage segment (6.2%).

“Seasonally adjusted, the volume index of this sector went up 2.6% to 130.5 points compared to the previous quarter,” Mohd Uzir said.

A total of RM110.6 billion was recorded in sales of wholesale and retail trade in September 2019, an increase of 5.6% compared to the same month a year ago.

Mohd Uzir said the growth was attributed to retail trade, which increased by 7.2% or RM3 billion, followed by wholesale trade with a 4.7% or RM2.5 billion rise, while motor vehicles expanded by 4.4% or RM500 million.

The volume index of wholesale and retail trade expanded 6% to reach 130 points against the same month last year.

“The key contributor to this growth was retail trade with 7.4%. As for seasonally adjusted volume index, it decreased 3.6% against a month ago,” Mohd Uzir said. The retail trade subsector led the other subsectors with a YoY growth of 7.2%.

Within the same period, wholesale trade expanded by 4.7%, while motor vehicles were up 4.4%. “The growth of 6% in the volume index of wholesale and retail trade was lifted by retail trade (7.4%) and followed by wholesale trade (5%). Motor vehicles advanced to 4.5% within the same period,” Mohd Uzir added.