In 2023, the retail trade sector in Malaysia was estimated to contribute around 8.6 percent to the country’s gross domestic product (GDP). The contribution from this sector has increased by one percent over the past two years, following the decline in the retail trade industry’s contribution experienced in 2021.
Retail market expects more growth
The GDP contribution from retail trade in Malaysia amounted to approximately 155 billion Malaysian ringgit in 2023, marking modest growth compared to the previous year. This could likely be attributed to the inflation rate in the country, which caused the prices of consumer goods to increase. Nevertheless, as the inflation rate was expected to moderate in 2024, this could positively impact the retail trade sector in the next few years.
Offline stores dominate retail sales
Despite the availability and convenience of online stores, Malaysian consumers still indicated in a 2023 survey that they prefer to shop in brick-and-mortar stores, especially for products like groceries and furniture. Supermarkets hold the largest market share of FMCG sales channels in the country, with a share of more than 40 percent in 2023.
Share of retail trade to the gross domestic products (GDP) in Malaysia from 2015 to 2023
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statistics Malaysia. (May 16, 2024). Share of retail trade to the gross domestic products (GDP) in Malaysia from 2015 to 2023 [Graph]. In Statista. Retrieved October 08, 2024, from https://www.statista.com/statistics/1459755/malaysia-share-of-retail-trade-to-the-gdp/
Statistics Malaysia. "Share of retail trade to the gross domestic products (GDP) in Malaysia from 2015 to 2023." Chart. May 16, 2024. Statista. Accessed October 08, 2024. https://www.statista.com/statistics/1459755/malaysia-share-of-retail-trade-to-the-gdp/
Statistics Malaysia. (2024). Share of retail trade to the gross domestic products (GDP) in Malaysia from 2015 to 2023. Statista. Statista Inc.. Accessed: October 08, 2024. https://www.statista.com/statistics/1459755/malaysia-share-of-retail-trade-to-the-gdp/
Statistics Malaysia. "Share of Retail Trade to The Gross Domestic Products (Gdp) in Malaysia from 2015 to 2023." Statista, Statista Inc., 16 May 2024, https://www.statista.com/statistics/1459755/malaysia-share-of-retail-trade-to-the-gdp/
Statistics Malaysia, Share of retail trade to the gross domestic products (GDP) in Malaysia from 2015 to 2023 Statista, https://www.statista.com/statistics/1459755/malaysia-share-of-retail-trade-to-the-gdp/ (last visited October 08, 2024)
Share of retail trade to the gross domestic products (GDP) in Malaysia from 2015 to 2023 [Graph], Statistics Malaysia, May 16, 2024. [Online]. Available: https://www.statista.com/statistics/1459755/malaysia-share-of-retail-trade-to-the-gdp/