The value added by Wholesale, Retail Trade, Restaurants, and Hotels in Malaysia has shown fluctuations over the past decade. In 2023, the series stood at USD 67.095 billion. Key trends include a remarkable increase from 2013 to 2014, followed by a downturn in 2015 and 2016. Steady recovery was observed from 2017 to 2019, although the industry faced a slight decline in 2020. The sector bounced back strongly in 2021 and continued its upward trajectory through to 2023, albeit at a decelerating rate.
- From 2013 to 2023: The year-on-year variation revealed a mix of highs and lows, with notable recovery periods and slight downturns. The sector showed resiliency with an average annual growth reflected in the CAGR over different periods.
- For 2024-2028: Forecasts show continued growth, with a 5-year CAGR predicted at 1.85% and an overall growth rate of 9.6%.
Future trends to watch for include the impact of consumer behavior shifts due to technological advancements, potential market disruptions from global economic factors, and evolving demand in the hospitality sector following the post-pandemic recovery.
