Saudi sales break $100 billion in first week of Ramadan

Consumer Staples Author: EqualOcean News Mar 25, 2024 08:57 AM (GMT+8)

The number of sales transactions in Saudi Arabia during the first week of Ramadan (March 10-16) amounted to 168.61 million transactions, with a cumulative total of SAR 116.88154 million.

According to the weekly point-of-sale report issued by the Saudi Central Bank (SAMA), the food and beverages category recorded the highest transaction value of SAR 22,649.18 million, with 45,812,000 transactions, significantly reflecting the importance of daily consumption. This was followed by the Miscellaneous Goods and Services category with SAR 13,864.11 million in transaction value and 20,176,000 transactions, a category that covers a wide range of goods and services, which may include everything from daily necessities to professional services. The Restaurants and Cafes category followed closely behind, with a value of SAR 12.258.44 million and a number of transactions of 36.428 million, reflecting the high frequency of eating out and socializing. In addition, the importance that the Saudi population places on health and well-being is also evident, with the healthcare category registering a transaction value of SAR 693.529 million and a transaction count of 7.248 million, demonstrating investment in health and well-being

At the city level, Riyadh topped the list with a transaction value of SAR 38,793.89 million and a transaction count of 51.83 million, demonstrating the economic dynamism of being the capital city. Other major cities such as Jeddah, Makkah and Dammam also demonstrated their economic characteristics and spending patterns in terms of transaction value and number of transactions.