Saudi spending dipped as Ramadan got underway

Published 28 Apr,2021 via Arab News - Economy RIYADH - Spending in Saudi Arabia edged lower as Ramadan got underway, data from the Kingdom's central bank revealed.

Spending fell by 1.8 percent for the week ending April 24, amounting to SR7.31 billion ($1.9 billion), Al Eqtisadiah reported.

It reached SR8.2 billion during the week ending April 17

Sales declined in most sectors, except in jewelry, hotels, clothing and shoes and transport - which all witnesse growth according to point of sale data.

The jewelry sector posted a 23.3 percent growth amounting to about SR251.4 million, followed by the hotels sector, with a 21 percent increase amounting to sales of over SR102 million.

The clothing and shoes sector posted an 18.4 percent increase and the transport sector rose by 5.1 percent to SR432 million.

However food and beverage witnessed a 34.4 percent decline.

Riyadh witnessed a 9.2 percent drop in spending according to the data.

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