Saudi POS transactions down 1% in June

31/07/2017 Argaam Special

Point-of-sale (POS) transactions in Saudi Arabia dropped 1 percent to SAR 18.1 billion in June from SAR 18.2 billion a year earlier, official figures from the Kingdom’s central bank showed.

 

Also, POS transactions fell – for the first time year-to-date (YTD) – by 4 percent month-on-month (MoM).

 

In May, POS transactions rose 6 percent to reach a lifetime high of SAR 18.9 billion.

 

Data showed that 61 million transactions were processed through nearly 299,000 points-of-sales in shopping malls, mega retail stores, and pharmacies.

 

Last April, Saudi Arabia’s King Salman restored bonuses and allowances for state employees, scaling back an austerity program that generated criticism among citizens.

 

POS Transactions (SAR bln)

Month

2016

2017

Variation

January

14.70

15.75

+7%

February

13.48

14.16

+5 %

March

15.36

16.31

+6 %

April

14.78

16.47

+11%

May

17.72

18.86

+6%

June

18.21

18.08

(1%)

July

13.57

--

--

August

15.32

--

--

September

14.21

--

--

October

14.30

--

--

November

15.29

--

--

December

15.78

--

--

 

Cash withdrawals decreased by 11 percent year-on-year (YoY) to nearly SAR 64.8 billion across 18,000 ATMs in June. 

 

ATM Withdrawals (SAR bln)

Month

2016

2017

Variation

January

62.69

61.14

(2%)

February

59.82

54.87

(8%)

March

66.16

63.38

(4%)

April

61.78

60.03

(3%)

May

67.82

65.26

(4%)

June

73.06

64.76

(11%)

July

54.94

--

--

August

65.11

--

--

September

59.26

--

--

October

60.34

--

--

November

59.99

--

--

December

62.49

--

--

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