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Recently Released Market Study: Malaysia Retail Report Q4 2012

New Retailing research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 08/27/2012 -- A low unemployment rate, rising disposable incomes and a strong tourism industry are helping to drive growth in Malaysia's retail sector. We forecast that total retail sales will grow from MYR176.28bn (US$50.04bn) in 2012 to MYR218.40bn (US$62.00bn) in 2016, a rise of 23.9%. Malaysia's nominal GDP is forecast to be US$274. 3bn in 2012, and BMI forecasts average annual GDP growth of 4.1% over the forecast period through to 2016. With the population expected to increase to 31mn by 2016, GDP per capita is predicted to rise 48.6% from US$9,356 in 2012 to US$13,901 in 2016. 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, urban households on average spent 1.8 times more than rural households between 2004 and 2005. Average consumer spending was MYR2,285 a 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. BMI forecasts pharmaceutical sales of US$0.52bn in 2012, set to increase to US$0.73bn in 2016, a rise of 39.0%. Consumer electronic sales are predicted to rise from US$14.40bn in 2012 to US$18.73bn in 2016 (+30.1%), boosted by demand from the tech-literate urban middle class and by a growing interest in electronic products from the underpenetrated areas outside the Klang Valley. BMI food consumption data suggest that the food and drink retail segment will have a market share of 32.6% in 2012. The sector is forecast to be worth US$16.29bn in 2012, and sales are expected to grow to US$22.08bn by 2016. Our forecasts suggest a 35.6% share of the total retail market in 2016. Per capita food consumption is forecast to be US$708 in 2016, which is impressive for the region. Although Malaysia is increasingly one of emerging Asia's more established mass grocery retail markets, BMI continues to predict a bright medium-term future for the sector, with industry sales forecast to rise 67.2% to US$22.70bn in 2016 on the back of the country's growing affluent middle- and upper-income consumer base. Tourism is an important contributor to the retail sector. Malaysia registered 24.6mn arrivals and tourism receipts of MYR56.5bn (US$18.5bn) in 2010, surpassing the government's target of 24mn arrivals and MYR54bn in tourism revenue, according to a statement from Tourism Malaysia. For 2011, the Tourism Ministry was targeting 25mn arrivals and MYR60bn in tourism receipts. However, in November 2011, Malaysia Retail Report Q3 2012 © Business Monitor International Ltd Page 6 Minister of Tourism Ng Yen Yen said that natural disasters and economic difficulties elsewhere in the world meant total arrivals for 2011 were more likely to be around the 24mn mark. BMI now believes that a 2.5% fall in tourism arrivals is likely, plus a 5% fall in tourism rev

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