KUALA LUMPUR, May 10 — Malaysia’s services sector revenue grew 13.1 per cent year-on-year (y-o-y) to RM560.3 billion in the first quarter of 2023 (1Q 2023) from RM495.5 billion in the same quarter last year, the Department of Statistics Malaysia (DOSM) said.
This performance was mainly driven by contributions from the wholesale and retail trade, food and beverages and accommodation segment which rose 13.1 per cent y-o-y to RM428.2 billion in the quarter under review, the department said in the latest Quarterly Services Statistics report released today.
Chief Statistician Datuk Seri Mohd Uzir Mahidin said other segments also contributed to the growth, namely the information and communication and transportation and storage segment which rose 12 per cent y-o-y to RM77.8 billion as well as the professional, real estate and administrative and support service segment, which was 16.5 per cent higher y-o-y to RM35.3 billion.
On a quarterly comparison, he said total revenue for the sector in 1Q 2023 increased by one per cent or RM5.5 billion propelled by the increment in the wholesale and retail trade sub-sector (0.6 per cent) as well as the transportation and storage sub-sector (3.6 per cent).
Meanwhile, Mohd Uzir said the number of persons engaged in this sector rose 2.1 per cent y-o-y to 4.4 million in the quarter while salaries and wages paid also registered a gain of RM1.4 billion, or 4.6 per cent y-o-y.
He added the e-commerce income expanded 10.4 per cent y-o-y to RM307.2 billion in 1Q 2023, but grew slightly by 1.6 per cent on a quarter-on-quarter comparison.
— Bernama
