KUALA LUMPUR, May 13 (Xinhua) -- Malaysia's services revenue surged 6 percent year-on-year in the first quarter of 2025, reaching 630 billion ringgit (146 billion U.S. dollars), official data showed Tuesday.
The Department of Statistics Malaysia (DOSM) said in a statement that the growth was supported by positive performance across all segments of the services sector.
The wholesale and retail trade, food and beverages, and accommodation segment recorded an increase of 5.3 percent, reaching 475.7 billion ringgit.
The robust expansion was driven by higher consumer spending and a rise in domestic travel, spurred by seasonal events such as Chinese New Year celebrations, preparations for Ramadan and Eid-al-Fitr, and the reopening of the school year.
Additionally, a 31.3 percent year-on-year increase in international arrivals, reaching 6.7 million in the first two months of this year, further bolstered the growth.
On a quarter-on-quarter basis, revenue in the services sector rose 0.3 percent compared to the fourth quarter of 2024. (1 ringgit equals 0.23 U.S. dollars) ■