Consumer spending rose to 261 billion riyals in the first quarter


Consumer spending in the Kingdom increased by 2.08% during the first quarter of 2021 on an annual basis, with an increase of 5.3 billion riyals over the same period last year, and spending according to the Central Bank data reached 260.8 billion riyals, compared to 255.5 billion riyals in the first quarter of 2020. The increase came as a result of an increase in the value of POS sales, which increased by 37.7%.

During the first quarter, with an increase of 29.9 billion riyals over the same quarter of last year, and consumer spending through points of sale rose to 109.17 billion riyals in the first quarter of this year, compared to 79.26 billion riyals in the same quarter of 2020.

The number of executed POS transactions jumped by 95.9% on an annual basis, registering more than one billion transactions, compared to 543.98 million transactions in the first quarter of last year, and in contrast, the value of cash withdrawals decreased by 24.6 billion riyals, and by 13.96% during the first quarter of 2021. On an annual basis, the value of cash withdrawals amounted to 151.64 billion riyals compared to 176.24 billion riyals in the same quarter of last year, and the value of withdrawals from banks amounted to 58.27 billion riyals during the first quarter of 2021 compared to 65.5 billion riyals in the same quarter of last year, a decrease of 11.05%, and most of the spending was Consumers in the food and beverage sector in the first quarter of 2021; Recorded an annual increase of 35% on an annual basis, with a total of 17.38 billion riyals, compared to 12.87 billion riyals in the same quarter of last year, and the restaurants and cafes sector came in second place, with total spending amounting to 13.7 billion riyals.

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