E-commerce sales in Saudi reports annual growth of 29.4%

E-commerce sales through “Mada” national payment system cards recorded an annual growth of 29.4%, with an increase amounting to approximately SAR3.963 billion, reaching SAR17,442,294 billion in November 2024, compared to SAR13,479,240 billion for the same month in 2023. This was achieved with 98,777,889 transactions, according to the statistical bulletin for November 2024 issued by the Saudi Central Bank (SAMA).
E-commerce sales through Mada cards also saw quarterly growth in the third quarter of 2024 by 12%, with an increase of about SAR5,433,822 billion, compared to SAR46,204,016 billion in the second quarter of the same year.
From the beginning of 2024 until the end of November 2024, sales grew by 21%, with an increase of approximately SAR3,015,808 billion from SAR14,426,486 billion in January.
These sales figures include transactions using Mada cards for payments and purchases through shopping websites, electronic applications, and e-wallets but do not include transactions made with credit cards.

Content Courtesy – Saudi Press Agency