Saudi Arabia among top 10 highest e-commerce growth countries

Riyadh City

Saudi Arabia is among the world’s top 10 countries leading e-commerce growth by more than 32%, according to a report by the E-Commerce Council for Q4 2022.

The Kingdom's holders of commercial registers and freelance certificates practicing e-commerce increased to 105,300 in 2022.

According to the report, the number of commercial registers active in e-commerce activities amounted to 30,150 during 2022, while the total number of freelance certificates for e-commerce activities reached 75,210.

The report also indicated that Saudi Arabia recorded a remarkable growth in the number of incoming e-commerce shipments, reaching 35 million during 2022, led by China, the US and Hong Kong, respectively, as shown in the following table:

The table below indicates the most significant imported products during 2022:

The report noted that the number of licensed companies saw a remarkable growth in 2022, as the number of logistics companies and licensed delivery applications (apps) reached 152 and 39, respectively.

The number of active financial technology (FinTech) companies in the Kingdom reached 147 by the end of 2022. Meanwhile, orders delivered through delivery apps stood at 190 million by year-end.

The value of “Mada” e-commerce transactions amounted to SAR 111 billion until November 2022. During the same period, more than 60 million transactions were carried out, compared to 37 million a year ago, a 64% increase.

Meanwhile, the report pointed out that the E-Commerce Council completed last year many initiatives and recommendations of policies and legislation related to e-commerce. This contributed to the emergence of reforms that stimulated e-commerce and reduced the obstacles facing the field.