https://arab.news/nxhz4
RIYADH: Saudi Arabia’s point-of-sale transaction value remained above $3.5 billion in the week ending June 6, driven by increased spending in the transport, construction, and eduction sectors, official data showed.
According to the latest report by the Saudi Central Bank, also known as SAMA, total transaction value stood at SR13.67 billion ($3.64 billion), while the number of transactions stood at 238.75 million.
The steady momentum of POS transactions in the Kingdom underscores sustained consumer confidence and the ongoing shift toward digital payments, supported by the country’s Vision 2030 reform initiative.
Despite the resilience in spending, the total value of POS transactions declined by 4.3 percent in the week ending June 6, while the number of transactions edged down by 4.9 percent.
According to the report, the total value of transactions in the transport sector stood at SR1.03 billion, representing a 38.8 percent increase compared to the previous seven days.
In the healthcare sector, POS spending amounted to SR860.37 million, up 19.5 percent, while construction & building material outlays rose 71.3 percent to SR392.57.
POS transactions in the food and beverages sector stood at SR2.29 billion, followed by spending in restaurants and cafes at SR1.71 billion and expenditure for apparel, clothing and accessories at SR1.06 billion.
The SAMA data revealed that transactions in gas stations stood at SR980.40 million, while spending in jewelry amounted to SR550.74 million.
In the education sector, POS transactions totaled SR147.30 million, representing a weekly increase of 800.1 percent.
Riyadh dominated POS transactions, with expenses in the capital reaching SR4.63 billion, marking a 4 percent increase compared to the previous week.
Jeddah witnessed POS transactions amounting to SR1.88 billion, up 10.1 percent from the previous seven days.
In Dammam, POS spending totaled SR674.29 million, followed by Makkah at SR552.19 million and Madinah at SR549.95 million.
Al-Khobar recorded POS spending valued at SR385.58 million, while spending in Buraidah and Abha amounted to SR344.32 million and SR178.67 million, respectively.
The latest data indicate that consumer confidence in the Kingdom has remained robust despite ongoing global economic uncertainties, delivering important support to Saudi Arabia’s wider economic transformation and diversification agenda.