RIYADH: Saudi Arabia’s point-of-sale transactions climbed 33 percent to SR15.5 billion ($4.15 billion) in the week preceding Eid Al-Adha, driven by increased spending across all sectors.
The latest data from the Saudi Central Bank, also known as SAMA, showed that the clothing and footwear sector led the growth seen in the week ending May 31, registering the largest jump in transaction value, up 72.7 percent to SR1.2 billion.
The sector also saw a 61.6 percent rise in the number of transactions, reaching 8.6 million.
The education sector followed, recording a 61.6 percent increase in transaction value to SR242.1 million. Telecommunication spending ranked next, rising 44.5 percent to SR136.2 million, with transactions up 19.9 percent to 2.1 million.
Food and beverages — the sector with the biggest share of total POS value — recorded a 34.2 percent increase to SR2.2 billion.
Transportation spending rose 29.7 percent to SR898.8 million, while restaurants and cafes saw a 24.3 percent increase, totaling SR2 billion and claiming the second-biggest share of this week’s POS.
The smallest spending gains were in hotels, rising by 9 percent to SR207.5 million, and construction and building materials, which increased by 12.9 percent to SR267.6 million.
Health outlays rose by 28.4 percent to reach SR952.8 million, while the public utilities sector increased by 29.1 percent to SR55.3 million.
Spending on electronics followed the trend, rising 23.1 percent to SR187.2 million, and recreation and culture edged up 42.5 percent to SR324.3 million.
Miscellaneous goods and services claimed the third-largest share of total transactions value, with an uptick of 34.4 percent to SR1.9 billion.
The top three categories — food and beverages, miscellaneous goods and services, and clothing and footwear — accounted for 39.9 percent of the week’s total spending, amounting to SR6.2 billion.
Geographically, Riyadh dominated POS transaction value, with expenses in the capital reaching SR5.4 billion, a 42.7 percent increase from the previous week.
Jeddah followed with a 27.7 percent rise to SR2.1 billion, while Dammam ranked third, up 25.1 percent to SR776.5 million.
Hail saw the biggest weekly increase in transaction value, inching up 52.6 percent to SR262.6 million, followed by Tabuk with a 51.3 percent uptick to SR323.6 million.
Hail recorded 4.3 million deals in transaction volume, up 24.7 percent, while Tabuk reached 5.2 million transactions, rising 21.1 percent.
