Malaysia Distributive Trade - 13 June 2023

Sales growth moderated in April on weak sales of motor vehicles

Distributive trade sales growth moderated sharply in April (6.3% YoY; Mar: 11.9%) to a 16-month low

  • Sales value (RM136.0b; Mar: RM138.5b): fell to a two-month low, as MoM growth (-1.8%; Mar: 3.5%) contracted to a nine-month low following a weak sales momentum.

Slower sales due to growth contraction in motor vehicles and moderation in wholesale and retail trade

  • Wholesale trade (3.2%; Mar: 7.6%): slowed to a three-month low due to weak other specialised (-1.1%; Mar: 0.8%) and a slowdown in household goods (5.4%; Mar: 16.4%) and food, beverages & tobacco (7.7 Mar: 12.9%).
  • Retail trade (12.9%; Mar: 17.7%): moderated to a 13-month low due to a broad-based slowdown in the subcomponents led by a contraction in information and computer equipment (-1.1%; Mar: 6.3%) and cultural and recreation goods (-2.1%; Mar: -0.9%). This was further dragged by a sharp moderation in sales of automotive fuel (19.6%; Mar: 38.1%).
  • Motor vehicles (-5.1%; Mar: 9.3%): contracted for the first time in 19 months due to a sharp decline in sales, maintenance & repair (-29.8%; Mar: 3.2%) and sales of motor vehicles (-17.3%; Mar: 3.8%) in line with weaker sales of vehicles (46.6k units; Mar: 78.8k units) due to scheduled plant maintenance and festive season holidays.