Malaysia’s services sector revenue recorded significant growth of 20.5% to RM404.5bil for the second quarter.
E-commerce income, meanwhile, rose 23.3% year-on-year during the three-month period to RM267.6bil as e-commerce transactions grew from the manufacturing and services sectors. In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said revenue for every segment in the services sector showed growth.
“The wholesale and retail trade, food and beverage and accommodation segment increased 21.8% to RM324.6bil. This was followed by the information and communication as well as transportation and storage segment with 14.7% to RM59.5bil. “The health, education and arts, entertainment and recreation segment as well as the professional and real estate agent segment experienced the same trend which recorded 27.3% increase to RM12.2bil and 8% to RM8.2bil respectively,” he said. The services sector has notably suffered under the various movement restrictions over the past 1½ years given its heavy reliance on foot traffic. With services-related businesses still hindered by the restrictions, employment in the sector has also been largely impacted. For Q2, the number of persons engaged in this sector were 3.6 million persons, a decline of 0.7% or 25,812 persons, as compared to the same period last year. This decrease was attributed to the information and communication and transportation and storage segment, which dropped 11,297 persons or -2.4%. This was followed by the wholesale and retail trade, food and beverage and accommodation segment, with a decline of 0.2% or 6,127 persons. Meanwhile, the health, education and arts, entertainment and recreation segment fell 1.7% or 4,772 persons.“Compared with the same quarter of last year, salaries and wages paid increased by 0.4% or RM100.5mil. The growth was contributed by the information and communication and transportation and storage segment which increased RM120.8mil or 2.8%. “This was followed by wholesale and retail trade, food and beverage and accommodation segment and health, education and arts, entertainment and recreation segment, which rose RM9.3mil and RM3.0mil respectively,” said Mohd Uzir.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippine economy rebounds in Q2 but faces ‘speed bumps’ | Malay MailMANILA, Aug 10 — The Philippine economy grew in the second quarter at its fastest pace in more than three decades, but an official warned today of “speed bumps” as coronavirus restrictions were tightened to combat surging infections. Gross domestic product expanded 11.8 per cent on-year, the...
Read more »
Income from e-commerce transactions up 23.3pc year-on-year in Q2 2021, says Stats Dept | Malay MailKUALA LUMPUR, Aug 11 — Malaysia’s income from e-commerce transactions rose 23.3 per cent year-on-year (y-o-y) to RM267.6 billion in the second quarter of 2021 (Q2 2021), mainly driven by the manufacturing and services sectors, according to the Department of Statistics Malaysia (DoSM). In a...
Read more »
AmBank sees Malaysia’s GDP rebounding in Q2, to post 11-13pc growth | Malay MailKUALA LUMPUR, Aug 11 ― Malaysia’s gross domestic product (GDP) is expected to turn around to record a growth of 11 to 13 per cent in the second quarter (Q2) of 2021, from the negative growth trajectory for the past four quarters for the first time, supported by higher industrial...
Read more »
DOSM: Malaysia’s birth rate declined while the death rate increased in Q2 2021Malaysia's population is estimated at 32.66 million, which includes 2.69 million non-citizens. The death rate has increased by 10.1% during the same period.
Read more »
Double-digit GDP growth for Q2The Malaysian economy may finally return to strong growth in the second quarter (Q2) of 2021.
Read more »