Saudi e-commerce sale soars to a record $18.4bn in Q1
RIYADH, 25 days ago
The e-commerce sales in the Kingdom of Saudi Arabia via "Mada" cards for the first quarter surged to a new high hitting over SAR69.3 billion ($18.4 billion), achieving an annual growth of 56% and an increase of SAR25 billion ($6.6 billion) compared to the same period in 2024, during which sales reached SAR44.4 billion ($11.8 billion), reported SPA.
The number of transactions executed via Mada cards exceeded 370 million during the first quarter, while sales achieved a quarterly growth of 26%, an increase of approximately SAR14.1 billion, compared to SAR55.2 billion in the fourth quarter of 2024, stated the report citing the statistical bulletin issued by the Saudi Central Bank for May.
Measuring monthly performance, e-commerce sales via Mada reached approximately SAR27.4 billion in May, registering an 18% growth from the previous month, when sales reached SAR23.3 billion, with transactions exceeding 147 million.
The data showed a cumulative growth of 31.3% during the period from January to May 2025, an increase of approximately SAR6.5 billion, compared to sales of SAR20.9 billion in January, it added.
