Saudi Arabia’s e-commerce sector continued its robust growth in the fourth quarter of 2024, with the number of registered businesses reaching 40,953—a 10% increase compared to the same period last year, according to official figures from the Ministry of Commerce.

Riyadh led the surge with 16,834 e-commerce businesses, followed by Makkah with 10,314 registrations and the Eastern Province with 6,488. Meanwhile, Madinah and Qassim reported 1,952 and 1,324 registrations, respectively.

This growth aligns with Saudi Arabia’s Vision 2030, which emphasizes transitioning to a diversified and digitally-driven economy. E-commerce is a cornerstone of these efforts, contributing to KSA’s ranking among the top 10 countries globally for e-commerce sector expansion. The nation aims to increase modern commerce and e-commerce’s share of retail to 80% and online payments to 70% by 2030.

The Ministry’s report also highlighted an 82% year-on-year surge in logistics sector registrations, reaching 16,561 in Q4 2024. Riyadh accounted for the largest share with 8,074 registrations, trailed by Makkah (4,235) and the Eastern Province (2,038). Madinah and Qassim each recorded 486 registrations.

In application development, the sector posted a 36% increase in registrations, totaling 15,775 in Q4 2024. Riyadh again led with 9,647 registrations, followed by Makkah (3,191) and the Eastern Province (1,590).

Fintech solutions also showed a 12% year-on-year increase, with 3,152 new records issued in Q4 2024. This growth underscores the sector’s critical role in supporting Saudi Arabia’s digital transformation objectives.

The report further highlighted expansions in other key industries, including cloud computing services, solar panel manufacturing, and real estate. Tourism and entertainment also experienced notable growth, with increased activity in organizing trips, trade fairs, conferences, and events.

These developments reflect Saudi Arabia’s strategic push to foster innovation and sustainable growth across diverse industries. The Ministry of Commerce’s quarterly bulletin underscores the Kingdom’s progress in creating a dynamic commercial environment aligned with Vision 2030.

As Saudi Arabia continues to focus on digital transformation and diversification, its burgeoning e-commerce and related sectors are expected to play a pivotal role in shaping the nation’s economic future.