Forecast: Retail Trade Revenue in Malaysia

The retail trade revenue in Malaysia has experienced robust growth over the years, reaching 137.21 billion Malaysian Ringgit in 2023. From 2013 to 2019, there was a consistent upward trend, with noticeable variations in year-on-year growth, averaging around 10-11%. The COVID-19 pandemic caused a dip in 2020 with a decline of 4.56%, but recovery followed from 2021 onwards. The last two years saw variations of 12.1% in 2022 and 5.34% in 2023, reflecting a steady rebound. The five-year CAGR leading to 2023 was 4.96%, indicating moderate growth.

Looking ahead, the forecasted data from 2024-2028 shows a continual increase in retail trade revenue, albeit at a slower pace. The 2028 forecast for retail trade revenue stands at 170.97 billion Malaysian Ringgit, indicating a forecasted 5-year CAGR of 3.48% and a total growth rate of 18.65% over the same period.

Future trends to watch for include the potential impact of digital transformation in retail, changes in consumer behavior favoring e-commerce, and economic policies that could affect disposable income and spending habits. Additionally, sustainability trends and technological innovations in retail operations could play a significant role in shaping the future landscape of Malaysian retail trade.