Saudi Arabia Macroeconomic Developments
- Saudi Arabia’s economic growth was revised to 4.5 percent YoY for Q4 2024, higher than earlier estimates of 4.4 percent. This marks the second consecutive quarter of growth and the fastest since Q4 of 2022, boosted by gains across all major economic sectors. For the full year, Saudi Arabia’s economy advanced by 1.3 percent, rebounding from a 0.8 percent contraction in 2023.
- Saudi Arabia’s E-Commerce sales soared 45 percent in January, surpassing SAR20.87 billion ($5.56 billion), underscoring the Kingdom’s accelerating shift toward digital payments.
- The education sector saw a notable rise in Point of Sales (POS) spending the week ending March 8, climbing 144.6 percent to SAR200.7 million ($53.5 million) as students returned from break.
