The e-Commerce Industry in Saudi Arabia Has Grown by 32%

With an annual increase of more than 32% in the first quarter of 2023, Saudi Arabia's e-commerce sector has shown phenomenal growth. 4,093 commercial registrations were issued during this time period, up from 3,499 in Q1 2022.

Riyadh issued 13,195 commercial registers, followed by Makkah with 8,605 and the Eastern Region with 5,294 according to the business bulletin of the Ministry of Commerce. There were 1,649 and 1,107 registrations issued by Madinah and Al-Qassim, respectively.

The National Transformation Program, which supports Saudi Arabia's Vision 2030, has as one of its goals to promote the growth of the e-commerce business system.

The Kingdom recognizes the value of e-commerce in advancing the country's economy as one of the top 10 fastest-growing e-commerce nations, with a growth rate of 17% in Q1 2023.

Through organizations that provide services for electronic payments, digital marketing, and technological solutions, the Saudi e-commerce system aids business owners who want to switch from conventional trade to e-commerce.