Malaysia's retail sales down 32.4% in April

Recreational goods and household equipment saw weaker revenues.

Malaysia’s retail sales dropped 32.4% MoM in April, according to data from Department of Statistics Malaysia (DOSM). On a YoY basis, it slid down 32.5%.

The slump in sales of other goods, automotive fuel, cultural and recreation goods and other household equipment in specialised stores dragged down sales value.

Sales volume dropped 36% YoY during the month. This was depicted for automotive fuel, as well as in non-essential products such as cultural and recreation goods. Seasonally adjusted, volumes declined 29.8% MoM.

At the same time, wholesale and retail trade sales fell 36.6% MoM to $15.69b (RM66.9b). Motor vehicles sales plunged 93.2%, whilst wholesale trade slipped 27.2%.

Sales volume for wholesale and retail trade contracted 38.6% YoY. The negative growth was recorded in all subsectors, namely, wholesale trade (27.5%), retail trade (36%) and motor vehicles (93.6%).