Bumiputeras spend RM109 billion per month

SHAH ALAM - The purchasing power of 22.85 million Bumiputeras continues to record an astonishing figure as they spend approximately RM109 billion each month last year, the highest compared to other ethnic groups in the country.

The overall spending of 7.4 million Chinese was RM47 billion, followed by 2.2 million Indians with RM12.2 billion.

The Malaysian Household Expenditure Survey 2022 report showed that the average monthly household expenditure of Chinese households was the highest at RM6,350, followed by Indians (RM5,546) and Bumiputeras (RM4,773).

However, because Bumiputeras represent 69.9 per cent of Malaysia's population, their cumulative spending as an ethnic group was higher.

Moreover, if they wanted to, they could use their substantial purchasing power to support campaigns boycotting pro-Israel products, as it has been widely discussed since Israel's relentless attacks on Palestine and simultaneously help boost the country's economy.

The survey report released by the Department of Statistics Malaysia (DOSM) also confirmed that Bumiputeras spent more in seven out of 13 expenditure categories, constituting 66.7 per cent of the total average monthly expenditure.

These seven categories included food and beverages (17.7 per cent), restaurants and accommodation services (16.3 per cent), clothing and footwear (3.1 per cent), furnishings, equipment and household maintenance (4.8 per cent).

Other categories were transportation (11.8 per cent), information and communication (6.7 per cent) and personal care, social protection, various goods and services (6.3 per cent).

The study also showed six more categories which were housing, water, electricity, gas and other fuels, health, recreation, sports and culture, education, insurance and financial services as well as alcoholic beverages and tobacco.

In terms of the growth rate of household expenditures, Indians showed a higher increase at 4.1 per cent compared to Bumiputeras (3.6 per cent) and Chinese (2.8 per cent).

According to DOSM, household expenditure increased in line with the growth in household size.

"In general, more family members lead to higher levels of expenditure needed to meet the household's needs.

"Comparatively, individual households spend an average of RM3,150 per month, compared to those with four or more members spending RM5,837," the report said.