An ATM machine
Consumer spending in Saudi Arabia grew by 16% to SAR 113.4 billion in February 2024 from nearly SAR 97.9 billion in the same month last year.
For more details on consumer spending from Argaam Tools
Consumer spending in Saudi Arabia represents total cash withdrawals, point-of-sale (POS) transactions, and e-commerce via Mada cards.
|
Consumer Spending (SAR bln) |
|||
|
Period |
2023 |
2024 |
Change |
|
January |
105.19 |
114.24 |
+9% |
|
February |
97.85 |
113.37 |
+16% |
|
March |
120.62 |
-- |
-- |
|
April |
111.51 |
-- |
-- |
|
May |
107.43 |
-- |
-- |
|
June |
115.41 |
-- |
-- |
|
July |
104.63 |
-- |
-- |
|
August |
115.42 |
-- |
-- |
|
September |
106.61 |
-- |
-- |
|
October |
110.01 |
-- |
-- |
|
November |
111.47 |
-- |
-- |
|
December |
113.53 |
-- |
-- |
Total spending (ATMs, POSs and MADA Cards) (bln SAR)
POS transactions saw a 20% year-on-year (YoY) rise to around SAR 53.7 billion in February.
The data showed that 806.2 million transactions were processed through 1.77 million POS terminals during the same period.
POS transactions represent the expenditures made by consumers using their ATM cards and credit cards at shopping malls, retail stores, pharmacies, and other retail outlets.
The table below indicates the development of POS transactions:
|
POS Transactions (SAR bln) |
|||
|
Period |
2023 |
2024 |
Change |
|
January |
48.33 |
53.80 |
+11% |
|
February |
44.80 |
53.72 |
+20% |
|
March |
55.41 |
-- |
-- |
|
April |
51.57 |
-- |
-- |
|
May |
49.80 |
-- |
-- |
|
June |
51.85 |
-- |
-- |
|
July |
49.35 |
-- |
-- |
|
August |
54.64 |
-- |
-- |
|
September |
50.50 |
-- |
-- |
|
October |
51.10 |
-- |
-- |
|
November |
52.37 |
-- |
-- |
|
December |
54.23 |
-- |
-- |
POS Transactions (bln SAR)
Cash withdrawals from ATMs rose by almost 9% YoY to about SAR 45.5 billion in February.
These withdrawals were processed through 15,900 ATMs in 122.1 million transactions.
|
ATM Withdrawals (SAR bln) |
|||
|
Period |
2023 |
2024 |
Change |
|
January |
45.15 |
46.01 |
+2% |
|
February |
41.74 |
45.54 |
+9% |
|
March |
51.70 |
-- |
-- |
|
April |
47.32 |
-- |
-- |
|
May |
44.93 |
-- |
-- |
|
June |
50.17 |
-- |
-- |
|
July |
42.38 |
-- |
-- |
|
August |
46.40 |
-- |
-- |
|
September |
42.26 |
-- |
-- |
|
October |
45.49 |
-- |
-- |
|
November |
45.62 |
-- |
-- |
|
December |
45.67 |
-- |
-- |
ATM Withdrawals (bln SAR)
E-commerce sales through Mada cards climbed 25% YoY to SAR 14.1 billion in February.
According to monthly data issued by the Saudi Central Bank (SAMA), these sales were made through 84.3 million transactions.
Online sales include transactions processed through Mada cards for payments and purchases made via online shopping and applications. However, these do not include transactions conducted using Visa, Mastercard, or other credit cards.
The table below indicates the development of online sales via Mada cards:
|
Online Sales via Mada Cards (SAR bln) |
|||
|
Period |
2023 |
2024 |
Change |
|
January |
11.71 |
14.43 |
+23% |
|
February |
11.32 |
14.11 |
+25% |
|
March |
13.50 |
-- |
-- |
|
April |
12.63 |
-- |
-- |
|
May |
12.71 |
-- |
-- |
|
June |
13.39 |
-- |
-- |
|
July |
12.90 |
-- |
-- |
|
August |
14.38 |
-- |
-- |
|
September |
13.85 |
-- |
-- |
|
October |
13.42 |
-- |
-- |
|
November |
13.48 |
-- |
-- |
|
December |
13.63 |
-- |
-- |
E-Commerce using Mada Cards Sales (bln SAR)
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