Saudi Arabia’s e-commerce sector makes up 8 per cent of its total trade volume

Dubai: Saudi Arabia’s minister of commerce Majid Al Qasabi announces that the e-commerce sector accounts for 8 per cent of the country's total trade volume, with revenues projected to hit $69 billion (Dh253 billion) by 2025, according to the Saudi Press Agency.

In a meeting with businessmen and entrepreneurs at the Qassim Chamber, the Al Qasabi noted a remarkable 95 per cent increase in financial technology companies, which have surged from just ten in 2018 to over 170 currently, according to a report by Saudi financial news portal Argaam.com.

Al Qasabi emphasised that the country is experiencing a boom across various sectors and highlighted the ambitious role of the chambers of commerce in advancing economic development.