Value of Saudi point-of-sale transactions falls for second week in a row

Value of Saudi point-of-sale transactions falls for second week in a row
The Kingdom’s aggregate POS transactions shrunk by 7.3 percent last week (Shutterstock)
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Updated 24 May 2023
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Value of Saudi point-of-sale transactions falls for second week in a row

Value of Saudi point-of-sale transactions falls for second week in a row

RIYADH: Spending by Saudis fell for the second week in a row in the seven days ending May 20, according to point-of-sale transactions data released by the Saudi Central Bank. 

The food and beverage sector saw the biggest drop in POS value, falling by SR136.17 million ($36.3 million), or 8 percent, the figures published by the bank, also known as SAMA, showed. 

The Kingdom’s aggregate POS transactions shrunk by 7.3 percent last week, totaling SR10.1 billion, driven by the decrease in food and drink spending, showed the data. 

Of the 17 sectors mentioned, 16 saw a decline in their weekly POS transactions in the week ending May 20, with the jewelry sector seeing a 0.1 percent rise.  

According to the data, Saudi Arabia’s aggregate week-by-week drop in POS value amounted to SR798.2 million during that period.  

The previous week had seen a SR702.7 million fall across all 17 sectors. 

Another significant drop in the value of POS transactions was recorded in restaurant and cafe spending, which saw a SR133.4 million decrease, or 7.7 percent, compared to the week prior. 

Other sectors:

  • Miscellaneous goods and services — down SR94.5 million; previous week down SR113.5 million 
  • Health — down SR70.8 million; previous week down SR45.7 million 
  • Gas stations — down SR49.6 million; previous week down SR8.7 million 
  • Clothing and footwear — down SR47.9 million; previous week down SR38.8 million 
  • Transportation — down SR46.8 million; previous week down SR21.1 million 
  • Other — down SR112.1 million; previous week down SR126.9 million 

The number of POS transactions declined by around 10.6 million last week, compared to a fall of 1.1 million the week before. 

The 6.2 percent drop in the number of POS transactions was led by a 3.1 million drop in the number of restaurant and cafe purchases, data showed. 

Food and beverage transactions also fell by 2 million in the week ending in May 20, reflecting a 4.8 percent decline week by week.  

Riyadh, which includes the largest share of POS transactions, saw a 4.7 percent drop in the number of sales. 

The Kingdom’s capital recorded a total POS value of SR3.4 billion, down by SR158 million from the week before.  

The number of POS transactions fell by 2.4 million from the previous week, reaching 48.5 million last week.  

Jeddah followed with SR1.4 million worth of POS which fell by SR114 million, whereas the number of transactions reached 19.7 million, down 1.2 million from the week before.