Performance of Services Sector
Volume Index of Service registered an increase of 0.3 per cent from 123.4 points to 123.8 points in fourth quarter of 2020 as compared to the previous quarter.
Wholesale & Retail Trade, Food & Beverages and Accommodation segment increased 1.1 per cent and Business Services and Finance segment, 0.9 per cent, were the main contributors to the quarterly increase in the Services sector. Meanwhile, for year-on-year comparison, Volume Index of Services recorded a growth of negative 7.1 per cent to 123.8 points in fourth quarter 2020. Overall 2020, this index decreased 8.0 per cent to 118.6 points as compared to 6.4 per cent from 128.9 points in 2019.
Seasonally adjusted volume index of this sector increased 0.1 per cent to 122.9 points as compared to the previous quarter. This increase was due to the positive growth of Wholesale & Retail Trade, Food & Beverages and Accommodation, 0.2 per cent.
Performance by Segment
Wholesale & Retail Trade, Food & Beverages and Accommodation
Volume index of Wholesale & Retail Trade, Food & Beverages and Accommodation segment grew 1.1 per cent to 125.2 points as compared to the third quarter of 2020. This growth was contributed by Wholesale & Retail Trade sub-sector, 1.4 per cent and Food & Beverages sub-sector, 1.5 per cent. Meanwhile, for annual comparison, this segment went down 7.3 per cent as against the same period in 2019.
Seasonally adjusted volume index of this segment experienced an increase of 0.2 per cent to 124.2 points as compared to the previous quarter.
Business Services and Finance
Segment of Business Services and Finance edged up 0.9 per cent to recorded 124.7 points as compared to the third quarter of 2020. This increase was supported by Finance & Insurance sub-sector (2.0%). For annual comparison, this segment reduced 4.0 per cent as compared to the same quarter of previous year.
Seasonally adjusted volume index of this segment also fell 0.3 per cent to 122.3 points over the previous quarter.
Information & Communication and Transportation & Storage
In fourth quarter of 2020, volume index of Information & Communication and Transportation & Storage segment recorded a growth of negative 1.5 per cent to 126.3 points as compared to third quarter of 2020. This decrease was due to the decline in Transportation & Storage sub-sector (-3.7%). Year-on-year, this segment also dropped 5.6 per cent as compared to the fourth quarter of 2019.
Meanwhile, seasonally adjusted volume index in this segment expanded 0.1 per cent to 127.5 points in the fourth quarter of 2020.
Volume index of Others Services segment portrayed a decreasing trend of 1.4 per cent to 100.2 points over the previous quarter. This decrease was driven by Private Education sub-sector (-2.8%) and Arts, Entertainment & Recreation and Personal Services & Other Activities sub-sector (-1.6%). For year-on-year growth, this segment contracted 24.2 per cent.
Seasonally adjusted volume index of Other Services segment declined 0.9 per cent to 99.2 points in fourth quarter 2020.
The full publication of the Quarterly Volume Index of Services, Fourth Quarter 2020 can be downloaded through eStatistik portal.
Data for fourth quarter 2020 is provisional. The data will be updated and published in the next quarter based on the latest figure.
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
9 February 2021
Mohd Yusrizal Ab Razak
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
E-mail : yusrizal.razak[at]dosm.gov.my