MALAYSIA’S services sector revenue grew 13.1% year-on-year (y-o-y) to RM560.3 billion in the first quarter of 2023 (Q1 2023) from RM495.5 billion in the same quarter last year, the Department of Statistics Malaysia (DOSM) said.
This performance was mainly driven by contributions from the wholesale and retail trade, food and beverages and accommodation segment which rose 13.1% y-o-y to RM428.2 billion in the quarter under review, the department said in the latest Quarterly Services Statistics report released today.