Mubasher – Mr. Jamal: Consumer spending in the Kingdom of Saudi Arabia increased during the year 2019 by 4.6 percent, on an annual basis, with an increase equivalent to 45.33 billion riyals compared to 2018.
Total consumer spending in the Kingdom, according to a statistic prepared by Mubasher based on SAMA data, reached 1.026 trillion riyals in 2019, compared to 980.63 billion riyals in the previous year.
A record level for POS sales
The increase in consumer spending in Saudi Arabia in the year 2019 was the result of an increase in the total value of sales of POS operations by 22.8 percent, on an annual basis, and an increase of 53.01 billion riyals.
Sales of total point-of-sale operations reached 285.32 billion riyals in 2019, compared to 232.31 billion riyals in 2018.
Point of sale operations implemented in the Kingdom increased by 56.5 percent last year, to reach 1.61 million transactions, compared to 1.03 million transactions in 2018..
The number of devices used in the implementation of POS operations increased to 438.62 thousand devices in 2019, compared to 351.65 thousand devices in the previous year, an increase of 24.7 percent .
December 2019 recorded the highest level of sales point sales in Saudi Arabia ever, reaching 27.93 billion riyals, exceeding the highest previous sales recorded in May of the same year, which amounted to 27.82 billion riyals.
December sales rose from the same month of 2018, which amounted to 22.32 billion riyals, or 25.1 percent, while it rose by about 8 percent from November sales, which amounted to 25.85 billion riyals..
Drinks topped consumer spending, and Riyadh was the highest city
Most sales of POS operations in Saudi Arabia during 2019 focus on the beverage and food sector, with a value of 37.16 billion riyals, compared to 29.31 billion riyals in 2018.
The spending on the clothing and footwear sector came in second place for spending at 30.31 billion riyals in 2019, followed by restaurants and cafes in third place with a value of 29.33 billion riyals.
The city of Riyadh was the highest in the level of spending during 2019 between Saudi cities with a value of 96.13 billion riyals through the implementation of 542.09 thousand operations, followed by the city of Jeddah with spending amounting to 48.04 billion riyals through the implementation of 222.62 thousand operations, then Dammam at 16.34 billion riyals with 91.29 thousand operations.
Cash withdrawals decrease slightly
On the other hand, the value of cash withdrawals – through banks and extent – decreased by about 1 percent during the year 2019 on an annual basis, and by the equivalent of 7.69 billion riyals.
The value of the total cash withdrawals in the Kingdom during 2019 was about 740.6 billion riyals, compared to its value of 748.33 billion riyals in 2018.
The withdrawals were affected by the decrease in the proceeds of the banks by about 8 percent, to reach 271.79 billion riyals at the end of last year, compared to 295.39 billion riyals in the previous year.
Meanwhile, withdrawals from “Mada” devices increased 3.5 percent in the year 2019 to 468.85 billion riyals, compared to 452.93 billion riyals in the previous year.
Cash withdrawals in Saudi Arabia during the year 2019 amounted to 2.12 million transactions, compared to 2.13 million transactions in 2018.
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