The Saudi Communications and Information Technology Commission’s (CITC) annual report revealed a remarkable growth in the e-commerce market in the Kingdom, reaching around SAR29.7 billion (USD7.92 billion) in 2017.
The report showed that 2017 witnessed around 8 million purchases made through electronic applications and websites in Saudi Arabia.
Annual spending averaged SAR3942 (around USD1,000).
The CITC report said that females use e-commerce more than males and 88 percent of users are Saudis.
Over the past years, the spread of internet services climbed from 64 percent in 2014 to 82 percent at the end of 2017.
The estimated number of internet users in the Kingdom exceeds 26 million.
E-commerce services in Saudi Arabia represent around two thirds of the e-commerce spending in the country, with travel-related services coming in first.
A 2016 CITC report noted that the Saudi e-commerce is undergoing a huge growth.
It linked the development of the sector to the implementation of a number of strategies and initiatives that would contribute to the diversification of the economy and the GDP.
These initiatives will be credited with creating job opportunities, attracting investment, supporting innovation and entrepreneurship and strengthening domestic industry.
