playspaceinvaders|Malaysia's services sector revenue surges to record high of 135.96 bln USD in Q2

KUALA LUMPURplayspaceinvaders, Aug. 8 (Xinhua) -- Malaysia's services sector revenue surged to a record 607.1 billion ringgit (135.6 billion U.S. dollars) in the second quarter, marking a 6.8 percent increase from a year earlier, official data showed Thursday.

The Department of Statistics Malaysia (DOSM) said in a statement that the growth was driven by favorable performance in the wholesale and retail trade, food and beverage, and accommodation segment, which saw a year-on-year increase of 6.4 percent in the second quarter.

Meanwhile, the professional, real estate, and administrative and support services segment also exhibited robust growth, with a 10.2 percent year-on-year increase.

Additionally, the information and communication and transportation segment grew by 6.1 percent, while the private healthcare, private education, arts, entertainment and recreation, and other personal services segment saw a notable increase of 12.4 percent.

In a quarter-on-quarter analysis, the total revenue for the services sector climbed by 2.1 percent compared to the first quarter of 2024.

Meanwhile, income of e-commerce for the quarter reached 302.4 billion ringgit, marking a 7.8 percent increase year-on-year compared to the same quarter last year.

In comparison to the previous quarter, the e-commerce revenue grew by 3.1 percent. (1 ringgit equals 0.22 U.S. dollar)■