An ATM machine
Consumer spending in Saudi Arabia grew by 5% to SAR 126.2 billion in March 2024 from nearly SAR 120.6 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 |
126.18 |
+5% |
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 Change y/y (%)
POS transactions saw an 8% year-on-year (YoY) rise to around SAR 59.7 billion in March.
The data showed that 809.4 million transactions were processed through 1.78 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 |
59.68 |
+8% |
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 |
-- |
-- |
Cash withdrawals from ATMs fell by almost 2% YoY to about SAR 50.6 billion in March.
These withdrawals were processed through 15,800 ATMs in 130.5 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 |
50.61 |
(2%) |
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 (SAR bln)
E-commerce sales through Mada cards climbed 18% YoY to SAR 15.9 billion in March.
According to monthly data issued by the Saudi Central Bank (SAMA), these sales were made through 95.5 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 |
15.89 |
+18% |
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 Change y/y (%)
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