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Business, Uncategorized

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SEC H1 net profit $1.67bn

Revenue grew by 24% to $7.38 billion.

Saudi jewelry sector records 36 percent sales jump in Q2

Saudis shop at a jewellery store in the Taiba gold market in the capital Riyadh. (AFP)
By TRENDS Desk
August 18, 2022 10:33 am
  • The kingdom has also seen an upsurge in consumer spending in the second quarter exceeding $33 billion with an annual growth rate of 7 percent
  • Referring to data issued by the Jazan Chamber of Commerce, the report said the gold and jewelry sector was followed by clothing and footwear, which grew by 24 percent

The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows signs of recovery after showing contraction due to the pandemic restrictions.

The kingdom has also seen an upsurge in consumer spending in the second quarter exceeding $33 billion with an annual growth rate of 7 percent, according to a media report.

Referring to data issued by the Jazan Chamber of Commerce, the report said the gold and jewelry sector was followed by clothing and footwear, which grew by 24 percent.

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