Malaysian retail sales sets record in July

Malaysian retail sales grew by 7.1 percent in July.

Combined with the wholesale trade, a new record high of RM112.5 billion (US$26.94 billion) turnover was set for the month.

According to Malaysia’s chief statistician Datuk Seri Dr Mohd Uzir Mahidin, the retail trade alone grew by 7.1 percent, that figure fuelled by a 10.5-per-cent growth in sales of food, beverages, and tobacco.

This was followed by retail sales of other goods in specialized stores and retail sales in non-specialised stores which registered 8.2 percent and 8.1 percent respectively.

For wholesale trade, sales value expanded 6.6 percent. However, sales of motor vehicles fell by 1.7 percent year on year.

Growth on a month-on-month basis in combined wholesale and retail sales rose by 0.2 percent, with the retail trade up by 1.1 percent and wholesale transactions down by 2.3 percent.