- Education sector recorded SR444.86 million ($118.55 million) in transactions
- Total POS value stood at SR13.5 billion despite a 1.5% weekly drop
RIYADH: Saudi Arabia’s point-of-sale transactions remained above the $3.5 billion mark for the third consecutive week, driven by a 76.7 percent rise in education spending in the week ending Aug. 16.
The increase comes as the back-to-school season gains momentum, with educational institutions across the Kingdom set to resume after the summer break.
The education sector recorded SR444.86 million ($118.55 million) in transactions, alongside a 13.5 percent uptick in volumes to 183,000. It was one of only four sectors to register growth during the period.
Total POS value stood at SR13.5 billion despite a 1.5 percent weekly drop, underscoring the resilience of consumer activity, according to data from the Saudi Central Bank.
Within transportation, which declined 20 percent overall, subcategories showed pockets of growth. Spending on vehicles and spare parts rose 5.2 percent to SR569.65 million, while freight transport and postal services edged up 0.3 percent to SR48.81 million.
Books and stationery also expanded, with spending up 3.5 percent to SR122.75 million and transactions rising 2 percent to 3.48 million. Gas stations recorded a marginal 0.2 percent increase to SR995.32 million.
Automotive and equipment rentals posted the second-steepest drop, falling 10.9 percent to SR70.71 million, while vehicle maintenance and repairs slipped 2.7 percent to SR229.22 million.
Food and beverages, the sector with the biggest share of total POS value, recorded a 2.5 percent decrease to SR1.88 billion, while the restaurants and cafes sector saw a 3.6 percent decrease, totaling SR1.69 billion and claiming the second-biggest share of this week’s POS.
Spending on transportation ranked third despite a 0.1 percent decline to SR1.04 billion.
The top three categories accounted for approximately 34.1 percent of the week’s total spending, amounting to SR4.61 billion.
Geographically, Riyadh dominated POS transactions, with expenses in the capital reaching SR4.60 billion, a 0.2 percent increase from the previous week.
Jeddah followed with a 4.9 percent dip to SR1.82 billion, while Dammam ranked third, down 1 percent to SR628.58 million.
Source: www.arabnews.com