KUALA LUMPUR, Feb. 12 (Xinhua) -- Malaysia's wholesale and retail trade sector sales hit a new all-time high of 1.77 trillion ringgit (400 billion U.S. dollars) in 2024, an increase of 5.5 percent year-on-year, official data showed Wednesday.

The Department of Statistics Malaysia (DOSM) said in a statement that retail trade grew by 6.1 percent to 764.9 billion ringgit during the year.

Meanwhile, wholesale trade increased by 4.7 percent to 782.1 billion ringgit, and motor vehicles expanded 6.5 percent to 219.1 billion ringgit.

As for December, Malaysia's wholesale and retail trade recorded total sales of 152.2 billion ringgit.

The increase in sales for December was primarily driven by the retail trade and wholesale trade sub-sectors.

According to the DOSM, Malaysia's wholesale and retail trade sector demonstrated resilience in 2024, driven by strong consumer demand, increased tourism, and a stable economic environment.

"In 2025, the sector is expected to maintain its momentum, supported by steady domestic consumption, international tourism, e-commerce expansion, and growing demand for electric vehicles," it said.

However, inflationary pressures, subsidy rationalization, and global economic uncertainty are expected to put some pressure on this sector, it added. (1 ringgit equals 0.22 U.S. dollars) Enditem

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