Malaysia’s Services Sector Revenue Grows 6.9 Pct in Q2

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Malaysia’s services sector revenue grew 6.9 percent year on year to 568.3 billion ringgit (about 124.1 billion U.S. dollars) in the second quarter of 2023, official data showed Wednesday.

The services sector performance was driven by wholesale and retail trade, food and beverages, and accommodation segment, which increased 5.9 percent to 433.5 billion ringgit, the Department of Statistics Malaysia said in a statement.

Malaysia’s e-commerce income rose 2.5 percent year on year to 280.5 billion ringgit in the second quarter. (1 ringgit equals 0.22 U.S. dollar)