Total consumer spending in the Kingdom, according to a statistic by “Mubasher” based on data from the Saudi Central Bank, “SAMA”, amounted to 89.24 billion riyals in last January, compared to 91.47 billion riyals in the same month of 2020.
On a monthly basis, consumer spending in Saudi Arabia decreased by 3.45 billion riyals, or 3.7% in January compared to its value in the previous month, which amounted to 92.68 billion riyals in December.
Consumer spending in the Kingdom during January 2021 was affected, on an annual basis, by a decrease in the value of cash withdrawals by 17.4%, and by 10.98 billion riyals for the same month of 2020.
Cash withdrawals decreased to 51.96 billion riyals in January last, compared to 62.94 billion riyals in the same month of the year 2020.
Withdrawals decreased by 5.6%, by 3.1 billion riyals, compared to the month of December, which amounted to 55.06 billion riyals.
In contrast, the value of POS operations increased during January 2021 by 8.74 billion riyals, or by 30.6% on an annual basis.
The value of POS operations amounted to 37.27 billion riyals, compared to 28.53 billion riyals in January of 2020, knowing that it amounted to 37.62 billion riyals in the month of December, a decrease of 0.9%.
The number of POS operations jumped by 91.2% during the month of January 2021, to 355.95 million, compared to 186.14 million in the same month last year.
Consumer spending in Saudi Arabia focused on the beverages and food sector during last January, at a rate of 5.67 billion riyals, through the implementation of 89.74 million operations, followed by the restaurants and cafes sector, with a value of 5.18 billion riyals, through the implementation of 104.42 million operations.
The city of Riyadh topped the Saudi cities in consumer spending during the month of last January with a value of 11.86 billion riyals through the implementation of 101.74 million operations, followed by the city of Jeddah with a value of 6.4 billion riyals by implementing 53.3 million operations.
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