KUALA LUMPUR, Aug 8 — The services sector revenue surged 6.8 per cent on-year to a record RM607.1 billion in the second quarter (2Q) of 2024, said the Statistics Department.
Chief statistician Datuk Seri Mohd Uzir Mahidin said the growth was driven by favourable performance of the wholesale and retail trade, food and beverages and accommodation segment, which logged a 6.4 per cent revenue growth on-year compared with 5.9 per cent in 2Q 2023.
This segment was the biggest contributor to the services sector revenue at RM461.4 billion, followed by the information and communication as well as transportation and storage segments (RM84.3 billion, up 6.1 per cent on year).
Uzir said the professional, real estate, and administrative and support services segment also showed robust revenue growth of 10.2 per cent to RM39.5 billion.
The private healthcare, private education, arts, entertainment and recreation, and other personal services segment saw a notable increase of 12.4 per cent to RM21.8 billion.
Meanwhile, e-commerce income for 2Q 2024 recorded a 7.8 per cent growth — its biggest on-year growth in five quarters — to RM302.4 billion.
Uzir said the number of people engaged in this sector was 4.5 million, an increase of 1.7 per cent on year.
This growth was led by the wholesale and retail trade subsector, which saw a rise of 2.3 per cent, followed by the transportation and storage subsector at 3.6 per cent.
Total salaries and wages increased 3.5 per cent on year to RM32.6 billion, attributed to the wholesale and retail trade as well as transportation and storage subsectors, he added.
— Bernama
