RIYADH: Jewelry spending in Saudi Arabia hit SR320.7 million ($85.4 million) between April 20 and 26, marking a weekly rise of 18.2 percent, according to the latest official figures.
The point-of-sale transactions bulletin issued by the Saudi Central Bank showed that this sector was one of the few that registered positive growth over the seven-day period.
The overall point-of-sale value decreased by 0.8 percent to SR11.3 billion during the week, with the number of transactions dropping 1.1 percent to 199.7 million.
Spending on electronics and electronic devices saw the second-largest increase, at 3.5 percent, to reach SR152.7 million. The number of transactions in this area increased 0.8 percent to 1 million.
Food and beverages spending followed with a 0.6 percent uptick to SR1.65 billion, accounting for the largest share of the week’s POS value.
Expenditure on education saw the biggest decrease, dipping by 17.5 percent to SR137.2 million, followed by hotels with a 13.7 percent drop to SR254.6 million.
Spending in restaurants and cafes saw a 2.1 percent fall to SR1.64 billion, although it still claimed the second-largest share of the POS value. Outlays on miscellaneous goods and services dropped 2.7 percent to SR1.34 billion.
Spending in the leading three categories accounted for approximately 40.8 percent, or SR4.6 billion, of the week’s total value.
Recreation and culture spending dropped by 7.4 percent to SR210.4 million, and expenditure on furniture decreased by 1.3 percent to SR224.9 million.
The clothing and footwear sector saw the smallest decline at 0.1 percent to SR607 million, with the number of transactions dropping by 1.9 percent to 4.6 million.
Geographically, Riyadh dominated POS transactions, representing around 36.1 percent of the total, with expenses in the capital reaching SR4.1 billion — a 0.1 percent increase from the previous week.
Jeddah followed with a 0.5 percent decrease to SR1.7 billion; Dammam came in third at SR602.5 million, up 1.7 percent.
Madinah experienced the most significant decrease in spending, dropping by 7.7 percent to SR421.1 million. Makkah followed with a 5.7 percent reduction to SR420.7 million.
Among Saudi cities, only Riyadh, Dammam, and Alkhobar experienced growth in transaction numbers. Riyadh reached 65.8 million transactions, reflecting a marginal uptick, while Dammam climbed to 8.5 million and Alkhobar to 4.5 million, marking modest gains compared to other regions.
Source: www.arabnews.com