Consumer spending in Saudi Arabia rose during the first half of 2021 by 12.86% year-on-year, an increase of 59.99 billion riyals from the same period last year.

Consumer spending in Saudi Arabia increased by 12.86% year-on-year.

The total consumer spending in the Kingdom, according to data from the Saudi Central Bank "SAMA", reached 526.56 billion riyals in the first half of this year, compared to spending of 466.56 billion riyals in the similar period of 2020.

The increase in consumer spending in Saudi Arabia during the first half of 2021 came as the total value of POS transactions increased by 45.8% year-on-year, equivalent to 71.41 billion riyals from the first half of last year.

The value of POS sales amounted to SAR 227.31 billion in the first half of this year, compared to SAR 155.9 billion in the corresponding period of 2020.

In contrast, the value of cash withdrawals decreased by 3.67% during the first half of 2021 year-on-year, to 299.24 billion riyals, compared to 310.66 billion riyals in the same period last year.

During the second quarter of 2021, consumer spending in Saudi Arabia increased by 25.9% year-on-year, to 265.76 billion riyals, compared to 211.06 billion riyals in the same quarter last year, an increase of 54.69 billion riyals.

The second quarter saw the value of cash withdrawals rise by 9.8% to 147.61 billion riyals compared to 134.42 billion riyals in the same quarter of 2020.

Similarly, the value of POS sales increased by 54.1% to SAR 118.15 billion, compared to SAR 76.65 billion in the second quarter of last year.

The value of POS sales increased by 54.1% to SAR 118.15 billion.

Consumer spending during the first quarter of 2021 amounted to about 260.8 billion riyals, compared to 255.49 billion riyals spent by consumers in the Kingdom in the same quarter of 2020.

Consumer spending in Saudi Arabia was concentrated on beverages and food during the first half of 2021; totaling 35.77 billion riyals, recording an increase of 17.9% year-on-year.

Spending on restaurants and cafes came in second place with 28.32 billion riyals, recording an increase of more than 100% compared to the first half of 2020, followed by clothing and footwear with spending amounting to 19.66 billion riyals, up by 76.6% year-on-year.

Also, spending on restaurants and cafes came in second place with 28.32 billion riyals, recording an increase of more than 100% year-on-year.

Consumer spending in Riyadh was the highest during the first half of 2021 with more than 70.2 billion riyals, followed by Jeddah with 37.45 billion riyals, then Dammam with 12.36 billion riyals.