Saudi POS transactions surge above $4bn in late October, up 37%

RIYADH: Saudi Arabia’s total point-of-sale transactions rose to SR16.02 billion ($4.27 billion) in the week ending Nov. 1, maintaining momentum above the $3 billion mark for a fourth consecutive week, official data showed.

According to data from the Saudi Central Bank, also known as SAMA, the value of transactions jumped 37.1 percent from the previous week, while the total number of payments increased 19.6 percent to 254.4 million, compared to 212.7 million in the prior period.

Spending rose across nearly all sectors, led by freight transport and courier services, which saw the largest gain at 90.3 percent to SR64 million. Outlays on education followed, surging 82.4 percent to SR189.44 million.

Airline spending climbed 9.4 percent to SR63.32 million, while auto and equipment rentals advanced 41.4 percent to SR90.2 million.

Expenditure in restaurants and cafes grew 26.4 percent to SR1.84 billion, and food and beverages spending increased 48.9 percent to SR2.66 billion — the week’s largest category. Clothing and apparel came next, up 60.3 percent to SR1.37 billion.

Saudi POS transactions surge above $4bn in late October, up 37%

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