Services sector revenue up 6.3% to record high of RM2.4 trillion in 2024 - DoSM

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Services sector revenue up 6.3% to record high of RM2.4 trillion in 2024 - DoSM - The Star

Quick Summary:

KUALA LUMPUR: Malaysia’s services sector revenue surged 6.3 per cent to a new high RM2.4 trillion in 2024 compared with RM2.3 trillion in the previous year, said the Department of Statistics Malaysia (DOSM) today.

The wholesale and retail trade, food and beverages (F&B), and accommodation segments remained key contributors, supported by sustained consumer demand and increased travel activity.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the steady performance was largely underpinned by the continued recovery of tourism-related industries, driven by 25 million international tourist arrivals and rising domestic travel activity.