Source: Xinhua | 2023-05-11 | Editor:Christine
Malaysia's services sector revenue registered a double-digit growth of 13.1 percent in the first quarter to record a total of 560.3 billion ringgit (about 125.83 billion U.S. dollars), official data showed Wednesday.
The Department of Statistics Malaysia (DOSM) said in a statement that the growth was driven by wholesale and retail trade, food and beverages, and accommodation segment, which increased 13.1 percent to 428.2 billion ringgit.
These were followed by the information and communication sector, transportation and storage, as well as the professional, real estate, and administrative and support service segments, which grew by 12 percent and 16.5 percent year on year to 77.8 billion ringgit and 35.3 billion ringgit, respectively.
Meanwhile, the e-commerce income recorded 307.2 billion ringgit, expanding by 10.4 percent year-on-year in the first quarter.
By quarter-on-quarter comparison, total services revenue in the first quarter increased 1 percent.
The growth was propelled by wholesale and retail trade, and transportation and storage sub-sectors, which grew 0.6 percent and 3.6 percent, respectively. (1 ringgit equals 0.22 U.S. dollars)