RIYADH — The growth rate of e-commerce platform users in Saudi Arabia reached 42 percent during the period between 2019 and 2024, and the value of e-commerce revenues in the Kingdom is expected to reach SR260 billion by the year 2025.
The e-commerce is projected to contribute to the Kingdom’s GDP by 12 percent during the next year. This was revealed in the latest report, released by the Saudi Small and Medium Enterprises General Authority (Monsha’at).
According to the report, the value of financing e-commerce projects in the Kingdom is amounted to SR1.6 billion during the year 2023. Saudi Arabia came in the 8th place globally in e-commerce among the top 10 developing economies.
The report noted that the number of holders of freelance documents registered with the Saudi Business Center in 2023 accounted for about 26300, while the number of holders of commercial registers documented by the Saudi Business Center reached 16500.
The number of e-stores is expected to reach 42900 during the next year. The number of shipping and delivery service providers amounted to 191 in 2022, and the percentage of products imported from abroad in 2023 stood at 35.44 percent.
The report indicated that e-commerce opens doors to benefit from growth and expansion opportunities, including overcoming market entry barriers, reducing operation costs, and reaching a wide customer base, as well as providing opportunities for local producers and productive families.
The report highlighted major challenges facing establishments in the field of e-commerce, such as competition with customers, limited resources, inventory management, business services and other challenges that may affect their growth and expansion.
Meanwhile, Monsha’at launched an awareness campaign on e-commerce under the title “The market is your game”, with the participation of many entities in the public and private sectors. The campaign is aimed at encouraging male and female entrepreneurs to enter e-commerce and benefit from it, in addition to introducing them to all the services provided by Monsha’at and the entities that enable investors in the e-commerce sector.
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