Services sector revenue down 24pc in 2020 Q2, statistics show

Department of Statistics Malaysia (DoSM) chief statistician Datuk Seri Dr Mohd Uzir Mahidin speaks during a press conference in Putrajaya August 15, 2019. ― Picture by Yusof Mat Isa
Department of Statistics Malaysia (DoSM) chief statistician Datuk Seri Dr Mohd Uzir Mahidin speaks during a press conference in Putrajaya August 15, 2019. ― Picture by Yusof Mat Isa

KUALA LUMPUR, Aug 10 — The services sector revenue recorded negative growth of 24.0 per cent in the second quarter of 2020 (Q2 2020) to RM335.6 billion as compared with the same quarter of the previous year, said the Department of Statistics Malaysia.

Chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said the Wholesale & Retail Trade, Food & Beverages and Accommodation segment decreased 23.7 per cent to RM266.5 billion, registering the largest decline on record since 2013.

"This was followed by the Information and Communications, and Transportation and Storage segment which contracted 21.3 per cent to RM51.9 billion while the Health, Education and Arts, Entertainment and Recreation segment declined 41.7 per cent to RM9.6 billion.

"In addition, the Professional and Real Estate Agent segment fell 20.9 per cent to RM7.6 billion," he said in a statement.

Mohd Uzir said on a quarterly basis, total revenue recorded a decrease of RM102.3 billion or 23.4 per cent to RM335.6 billion.

He said the number of persons engaged in this sector was 3.7 million, down by 115,400 persons or 3.1 per cent from the same period last year.

This decrease was contributed by the Wholesale and Retail Trade, Food and Beverages and Accommodation segment with a drop of 94,817 persons or 3.4 per cent. On a quarterly basis, the number of persons engaged reduced by 96,314 persons or 2.6 per cent.

Mohd Uzir said in line with the drop in the number of persons engaged, salaries and wages paid amounted to RM23.5 billion, a decrease of 6.4 per cent year-on-year.

This was contributed by the Wholesale & Retail Trade, Food & Beverages and Accommodation segment with a decrement of RM516 million or 3.5 per cent.

On a quarterly basis, salaries and wages fell RM1,429.7 million or 5.7 per cent.

“The performance of the services sector in the second quarter of 2020 indicated the lowest growth, due to the Covid-19 pandemic.

“The implementation of the stimulus packages and short-term economic plans to reduce the impact of Covid-19 are expected to drive the country's economic recovery in the next quarter,” he added. — Bernama

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