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Malaysia services sector up 6.5 per cent 2Q19, revenue RM441.3 bln

Last update: 13/08/2019
KUALA LUMPUR, Aug 13 (Bernama) -- The country services sector has recorded a growth of 6.5 per cent in the second quarter of 2019 (2Q19) with revenue of RM441.3 billion as compared to the corresponding period last year, said Department of Statistics Malaysia.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the increase was driven by wholesale and retail trade, food and beverages and accommodation segment, which rose to RM349.3 billion (6.4 per cent).

“The growth was also contributed by information and communication and transportation and storage segment which recorded a value of RM65.9 billion (6.9 per cent),” he said in a statement today, adding that on a quarterly basis total revenue recorded an increase of RM10 billion (2.3 per cent).

The number of persons engaged in the sector for the 2Q19 was 3.8 million persons, improved by 96,049 persons (2.6 per cent) as compared with the same period in 2018.

The growth according to Mohd Uzir, was driven by wholesale and retail trade sub-sector with an increment of 44,494 persons (2.5 per cent), followed by food and beverages sub-sector, up to 36,635 persons (4.4 per cent).

“Salaries and wages paid also registered an increase of RM1.1 billion with a growth of 4.4 per cent on year-on-year comparison, propelled by wholesale and retail trade sub-sector with an increment of RM491.4 million (4.1 per cent).

“On quarterly performance, the number of persons engaged added by 55,661 persons (1.5 per cent) with salaries and wages went up to RM531.1 million (2.2 per cent),” he said.

In a separate statement, Mohd Uzir said the country’s Volume Index of Services grew 6.4 per cent to 126.5 points in the second quarter of this year as compared with the same quarter in 2018.

“The seasonally adjusted volume index of this sector went up by 1.2 per cent to 127.2 points in the 2Q19 as compared to the previous quarter.

“The increase of services sector in 2Q19 was led by wholesale and retail trade, food and beverages and accommodation segment, 6.6 per cent and information and communication and transportation and storage segment, 6.4 per cent,” he said.

-- BERNAMA





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