From 2013 to 2023, Malaysia's wholesale and retail trade revenue grew consistently, peaking at 275.88 billion Malaysian Ringgits in 2023. Notably, 2020 saw a dip due to global disruptions, but recovery resumed thereafter. Year-on-year variations reveal robust growth: 2022 had a 5.65% increase, and 2023 recorded a 5.28% rise, with a 3.06% CAGR from 2018 to 2023.
Looking forward, forecasts indicate an average annual growth rate (CAGR) of 3.45% from 2024 to 2028, with overall growth projected at 18.45% by 2028. By the close of 2028, revenues are expected to hit 343.02 billion Malaysian Ringgits.
Future trends to watch for include:
- Technological advancements in retail logistics
- E-commerce expansion
- Shifts in consumer behavior post-pandemic
- Government policies impacting trade
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