E-commerce transactions rise to 22 billion riyals

The Riyadh Chamber revealed that the volume of transactions in the e-commerce sector increased during the past year to $5.7 billion (22 billion riyals). This came in a report by the Business Support Sector Monitor, on the reality of e-commerce in the Kingdom, with the aim of identifying the importance of the sector globally and locally, and advancing it through the data of the government institutions concerned in this matter, and the opinion of companies in terms of the pros and cons, and the most important challenges.

The report stressed that the increasing availability of the Internet and social networking sites led to an increase in opportunities to practice e-commerce in the current year, revealing several reasons behind its rise at the present time, the most important of which are the ease of use of the Internet and the increase in the value of sales (payment growth), and the high economic return, in addition to Novel Corona Virus. He revealed the contribution of e-commerce in the Kingdom to the national accounts with a revenue of 10482 million dollars last year, the clothing and footwear sector came with 3,209 million dollars, then electronics 2,998 million dollars, then furniture and household appliances by about 1477 million dollars, and the lowest return came from food and medicine 776 Million dollars.

The data indicated that e-commerce is clearly growing in retail trade, while vehicle repairs are the least affected sectors.

The report stated that the global e-commerce index last year showed that the Kingdom ranked second in the Arab world and 49th globally among the 152 countries included in the index recently issued by the United Nations Conference on Trade and Development (UNCTAD).

The report indicated that the rate of Internet consumption for users increased by 34% in the past year during the Corona pandemic, compared to 2019, according to information issued by the Communications Authority, while the data of the Ministry of Commerce indicate an increase in the number of licensed electronic stores by about 14% over the year 2019, as well as an increase in the number of online stores. The commercial records of electronic stores reached 28,676 stores and platforms at the end of the first half of the year 2020.

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