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Malaysia Retail Report Q2 2009Published by: Business Monitor International Published: May. 14, 2009 - 40 Pages Table of Contents
AbstractThe new BMI Malaysia Retail report predicts that total retail sales will grow from just over US$30bn in 2007 to nearly US$50bn by 2013. A low unemployment rate, rising disposable income and a strong tourism industry are key factors behind the forecast growth.Malaysia’s nominal gross domestic product (GDP) was US$186.9bn in 2007. Average annual GDP growth of 4.2% is predicted by BMI to 2013. With the population increasing by 9.9% over the period, GDP per capita is predicted to rise from US$7,035 in 2007 to US$11,821 by 2013. Our assumption of consumer spending per capita is for an increase from US$1,574.0 in 2007 to US$3,100 by 2013. Malaysia is classified as an upper-middle-income country by the World Bank, with the proportion of middle-income households estimated at more than 50% in 2007. According to the Department of Statistics Malaysia (DSM), on average, in 2004-05, urban households spent 1.8 times more than rural households. Average consumer spending was MYR2,285 (US$632) per month in urban areas and MYR1,301 per month in rural areas. With the urban population predicted to account for almost 76% of the total by 2015, according to UN data, this is likely to have a positive effect on retail sales. Aided by the Visit Malaysia Year 2007 campaign - which marked the 50th anniversary of Malaysia’s independence - the country recorded 20.9mn visitors in 2007, according to data published by Ministry of Tourism Malaysia (MTM). Tourism receipts were MYR46.07bn (US$13.82bn). Tourist arrivals increased further in 2008, by 5.5% to 22.05mn, surpassing the 21.5mn target set by the government under the Ninth Malaysia Plan. Shopping is the second-highest contributor to the country’s tourism receipts, and shopping revenue is expected to increase by 30% to MYR16bn (US$4.6bn) in 2008. Retail sales for the BMI universe of Asian countries in 2007 amounted to an estimated US$1.22bn. China and India alone in 2007 accounted for an estimated 92% of regional retail sales, with their combined share expected to reach almost 95% by 2013. Growth in regional retail sales for the period 2007 to 2013 is put by BMI at 181%, or an average 19.3% per annum. China should experience the most rapid rate of growth, followed by India and Indonesia. For Malaysia, the estimated 2007 market share of 1.4% is expected to fall to 1.1% by 2013. Get Full Details About This Report >> |
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