KUALA LUMPUR, Nov 9 — Malaysia’s services sector revenue grew by 7.6 per cent year-on-year to RM584 billion in the third quarter of 2023 (3Q 2023), lifted by favourable performance in all segments, said the Department of Statistics Malaysia (DoSM).
The sector recorded a 6.9 per cent growth year-on-year in the second quarter of 2023.
Chief statistician Datuk Seri Mohd Uzir Mahidin said the significant increase in 3Q 2023 was recorded in wholesale and retail trade, food and beverages and accommodation segment, which rose RM28.7 billion to reach RM446.6 billion.
“Information and communication and transportation and storage segment (grew by RM7.2 billion or 9.8 per cent, professional, real estate and administrative and support service segment by RM3.1 billion or 9.4 per cent and private health, private education, arts, entertainment and recreation and personal services and other activities segment by RM2.2 billion or 12.3 per cent,” he said in a statement today.
On a quarter-on-quarter basis, total revenue for the services sector in the third quarter 2023 expanded by 2.8 per cent or RM15.8 billion as compared with the previous quarter.
Mohd Uzir said the number of persons engaged in this sector stood at 4.4 million persons, a gain of 79,400 persons or 1.8 per cent year-on -year.
“The rise was driven by the wholesale and retail trade sub-sector with an increase of 37,200 persons or 1.9 per cent, followed by the transportation and storage sub-sector which grew ny 15,000 people or 4.2 per cent,” he said, adding that the number of people engaged grew by 0.6 per cent quarter-on-quarter, amounting to 24,400 persons.
Mohd Uzir said salaries and wages paid registered an increase of RM1.1 billion or 3.6 per cent y-o-y.
“The increment was attributed to wholesale and retail trade and transportation and storage sub-sectors, which rose RM400 million and RM200 million, respectively,” he added.
As for e-commerce income, he said it grew 5.4 per cent year-on-year to RM289.5 billion in the third quarter of 2023, and 3.2 per cent quarter-on-quarter.
— Bernama
