Services

Quarterly Services Statistics, Q4 2023

Latest Release : 8 February 2024
Upcoming release : 08 August 2025
9 November 2023
Quarterly Services Statistics, Q3 2023 9 November 2023
Volume Index of Services Third Quarter 2023 9 August 2023
Quarterly Services Statistics, Q2 2023 9 August 2023
Volume Index of Services Second Quarter 2023 10 May 2023
Quarterly Services Statistics, Q1 2023 10 May 2023
Volume Index of Services First Quarter 2023 Show all release archives
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Overview

Total revenue of Services sector recorded RM591.4 billion in the fourth quarter of 2023, registering positive growth of 6.6 per cent as compared to the same quarter in 2022. The increase was contributed by Wholesale & Retail Trade, Food & Beverages, and Accommodation segment (+RM25.1 billion; 5.9%). Meanwhile, total revenue on a quarterly basis registered a growth of 1.3 per cent or +RM7.3 billion. 

Total number of persons engaged in this sector amounted to 4.4 million persons, rose 79.3 thousand persons or 1.8 per cent against the corresponding period of the previous year. For quarterly comparison, number of persons engaged went up 0.5 per cent or increased 23.4 thousand persons.

Salaries and wages paid in the fourth quarter of 2023 posted a growth of 3.3 per cent to reach RM32.0 billion compared to the same quarter a year ago. Compared with third quarter of 2023, salaries and wages paid increased 0.8 per cent.

In 2023, the Services sector recorded RM2.3 trillion, increase 8.4 per cent compared to 20.7 per cent in 2022. The  number  of  employees as well  as  annual  salaries  and  wages in  this  sector  also  increased  1.8 per cent (+79,322 persons) and 3.8 per cent (+RM 4.7 billion).



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