Saudi spending on goods, food, and furniture continues to fall: SAMA data

The Kingdom’s aggregate POS transactions shrunk by 3.3 percent last week (Shutterstock)
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Updated 22 September 2022
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Saudi spending on goods, food, and furniture continues to fall: SAMA data

CAIRO: Spending by Saudis fell in the week ending Sept. 17, according to point of sale transactions data released by the Saudi Central Bank.

The education sector saw the biggest drop, falling 53.3 percent, the figures published by the bank, also known as SAMA, showed.

The Kingdom’s aggregate POS transactions shrunk by 3.3 percent last week, totaling SR10.2 billion ($2.72 billion), driven by the decrease in education spending, showed the data.

Of the 17 mentioned sectors, 11 saw a decline in their weekly POS in the week ending in Sept 17, with the aggregate week-by-week drop amounting to SR344.2 million.

The previous week had seen a SR2.9 billion fall across all 17 sectors.

Sector changes

  • Miscellaneous goods and services — down SR55.2 million; previous week down SR279.7 million
  • Food and beverages — down 46.2 million; previous week down SR510 million
  • Restaurants and cafés — down SR34.2 million; previous week down SR206 million
  • Furniture — up SR28.6 million; previous week down SR39.7 million
  • Health — up SR19.6 million; previous week down SR128.4 million
  • Construction and building material— up SR8.7 million; previous week down SR279.5 million

As for the number of POS transactions, they declined by around 125,000 last week compared to a 14.8 million fall the week before.

The decline was led by a 366,000 drop in the number of recreation and culture purchases, showed the SAMA data.

Jewelry sales, however, saw the largest increase, with POS transactions up 15 percent to SR30.4 million, after having dropped by S25.9 million the week before, according to SAMA.

Even though the value of food and beverage POS transactions dropped, the number of transactions actually rose by 258,000 last week.

 


Egypt–Saudi power link set to boost regional energy integration, minister says 

Updated 22 February 2026
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Egypt–Saudi power link set to boost regional energy integration, minister says 

RIYADH: Electricity interconnection projects between Egypt and Saudi Arabia will strengthen regional energy cooperation and economic integration, Egypt’s minister of electricity and renewable energy said during a visit to a key cross-border power facility. 

Mahmoud Esmat made the remarks while inspecting the Egypt–Saudi electricity interconnection station linking the two countries’ power grids, where he reviewed construction progress and equipment testing ahead of trial operations expected in the coming weeks, according to a statement from the Egyptian State Information Service. 

The project is described as the first of its kind in the Middle East in terms of scale, manufacturing technology, operation, and application in grid interconnection lines. 

The initiative supports the state’s broader vision to implement sustainable solutions aimed at ensuring the stability of the national unified grid and enhancing the reliability and quality of electricity supply. 

It also aligns with Egypt’s allocation of 136.3 billion Egyptian pounds ($2.8 billion) to the electricity and renewable energy sector in its 2025–26 development plan, nearly double the 72.6 billion pounds set aside the previous year. 

The plan focuses on diversifying energy sources, expanding renewable capacity, and strengthening the national grid to meet rising demand. 

The statement said: “The minister toured the station’s departments and control and operation center, following up on the completion of testing for all equipment and components in preparation for launching operations and synchronizing the project with the unified power grids of Egypt and Saudi Arabia in the coming weeks.” 

It added: “Esmat reviewed the implementation rate of the project and testing works, as well as the project’s timeline. He highlighted finalization of operational tests at the Badr transformer station and the Sakakin Taba 2 station, as well as the 500 kilovolts overhead transmission line extending approximately 320 km.”  

The minister said the project forms part of broader efforts to build an integrated power network connecting the two countries, facilitating efficient and flexible electricity exchange and laying the groundwork for a unified Arab electricity market. 

He added that the initiative reflects a clear vision and comprehensive strategy to strengthen the efficiency of the energy system while delivering both immediate and long-term solutions to safeguard grid stability and enhance service quality.