In the fourth quarter of 2024, the e-commerce industry in Saudi Arabia continued to grow, with 40,953 enterprises registered around the Kingdom, a 10% year-over-year gain.
According to the Ministry of Commerce’s most recent data, Riyadh had 16,834 registrations, Makkah had 10,314, and Eastern Province had 6,488. E-commerce enrolments in the Madinah and Qassim regions were 1,952 and 1,324, respectively.
The expansion is consistent with Saudi Arabia’s continuous shift to a digitally driven, diversified economy, in which e-commerce is a key component. The Kingdom is currently one of the top 10 nations in the world for this sector’s growth.
These numbers are in line with the government’s aim to boost online payments to 70% by 2030 and the country’s objective to increase modern commerce and e-commerce’s share of the retail sector to 80% by the same year.
According to the Ministry of Commerce’s most recent quarterly report, the logistics industry saw 16,561 registrations in the fourth quarter, an 82% increase in record issuance over the same period in 2023.
With 8,074 registrations, the capital topped the list, followed by Makkah (4,235) and Eastern Province (2,038). There were 486 enrolments in each of the Madinah and Qassim areas.
In terms of application development, the research revealed that, in comparison to the same quarter in 2023, the sector had a 36% increase in record issuance year over year, reaching 15,775 registrations in the last quarter of 2024.
With 9,647 registrations, Riyadh was the most popular city, followed by Makkah with 3,191 and the Eastern Province with 1,590.
In the fourth quarter of 2024, the Kingdom’s fintech solutions sector issued 3,152 records, a 12% year-over-year rise over the same period the previous year.
The report also highlighted notable expansion in a number of potential industries, which is consistent with Saudi Arabia’s “Vision 2030” objectives. Significant growth was noted in a number of important industries, such as cloud computing services, solar panel and component manufacturing, and real estate.
Additionally, there was growth in the planning of trade shows, seminars, entertainment events, and vacations. These initiatives reflect the Kingdom’s strategy, which emphasises encouraging innovation and long-term growth across a range of industries.
The ministry’s quarterly business sector bulletin highlights the Saudi economy’s ongoing expansion and diversification while giving a summary of the most recent changes in the country’s business climate.