Saudi Arabia’s e-commerce grew by 17.47 percent to reach 40,697

The issuance of existing e-commerce business registers in Saudi Arabia increased by 17.47 percent by the end of the second quarter of 2024, new data shows.

According to the Q2 2024 Business Sector Bulletin issued by the Saudi Ministry of Commerce, 40,697 e-commerce records were issued during the period, compared to 34,645 during the same period in 2023.

Riyadh led Saudi Arabia’s regions in issuing e-commerce records, with 16,535 trade records. Makkah was next with 10,325 records, the Eastern Province with 6,525, Medina with 1,938 and Al-Qassim with 1,326.

The Role of E-Commerce in Saudi Arabia’s Vision 2030

Strengthening the e-commerce system is one of the goals of the National Transformation Program, which supports the realization of Saudi Arabia’s Vision 2030. E-commerce plays a significant role in strengthening the national economy, and Saudi Arabia is among the top 10 developing countries in this field.

Ministry activities to promote e-commerce

The Ministry of Commerce aims to stimulate e-commerce markets, increase trust in its transactions and protect customer rights, increase growth and contribute to the achievement of the Vision 2030 goals. The Ministry supports entrepreneurs transitioning from traditional trade to e-commerce through various entities providing services in the field of empowerment, e-payments, digital marketing, technical solutions, e-marketplaces, logistics solutions and e-shop development platforms.

The E-Commerce Council plays a key role in this endeavor, with the goal of making e-commerce more reliable, increasing its contribution to the national economy, and stimulating e-commerce activities in Saudi Arabia.

Read more: Going digital: Luxury e-commerce growth outpaces non-luxury e-commerce

Taking advantage of rapid market expansion

Saudi Arabia is working to improve the investment climate for e-commerce, aiming to attract more local and international companies to this booming market, which is expected to be worth $44 billion by 2030.

A key objective is to strengthen the e-commerce sector. National Transformation Programsupporting Saudi Arabia’s Vision 2030. This move is essential to boosting the national economy, as the Kingdom is among the top ten fastest growing countries in e-commerce. The program plays a key role in strengthening the private sector and improving government efficiency to drive the country’s transformation and meet the goals of the vision.

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