Monday, August 15

Dept: Services sector revenue soars 10.4 pct to RM473 bln in Q1


Customers throng a restaurant in George Town on April 6, 2022. — Bernama photo

KUALA LUMPUR (May 12): Revenue for the services sector in the country soared 10.4 per cent to RM473.0 billion in the first quarter (Q1) of 2022 from RM428.5 billion in Q1 2021, the Department of Statistics Malaysia (DoSM) said.

Presenting DoSM’s Quarterly Services Statistics, First Quarter 2022 today, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said services sector performance in Q1 2022 was driven by the wholesale and retail trade, food and beverages, and accommodation segment, which increased 9.2 per cent to RM378.7 billion.

“These were followed by the information and communication and transportation and storage, and private health, private education, and arts, entertainment and recreation segments, which went up 16.1 per cent and 17.3 per cent to RM69.5 billion and RM15.2 billion, respectively,” he said in a statement, today.

For e-commerce income, Mohd Uzir said it rose 9.3 per cent year-on-year (y-o-y) to RM278.2 billion in Q1 2022.

However, for quarter-on-quarter comparison, the income of e-commerce decreased 4.2 per cent.

He said an analysis by sub-sector showed that the wholesale and retail trade sub-sector recorded the highest increment of RM28.5 billion or 8.6 per cent y-o-y.

“These were followed by the transportation and storage, and food and beverages sub-sectors, which increased 32.2 per cent and 19.9 per cent to RM29.3 billion and RM15.5 billion, respectively, in Q1 2022,” he said.

Mohd Uzir said for quarter-on-quarter comparison, total revenue in Q1 2022 increased 2.8 per cent or RM12.9 billion.

The growth was also propelled by the wholesale and retail trade and transportation and storage sub-sectors which grew 1.9 per cent and 8.9 per cent, respectively, he said.

Meanwhile, the number of persons engaged in this sector grew by 99,500 persons, or 2.7 per cent, y-o-y to 3.8 million persons.

Mohd Uzir said salaries and wages paid also registered an increase of 5.0 per cent y-o-y to RM1.2 billion. — Bernama