Logistics Services Sector Records Highest Growth Rate of 76% Last Quarter

The logistics services sector experienced a remarkable growth rate of 76%, with 11,928 registrations, making it the leading sector in the April-June quarter according to the Business Sector Bulletin issued by the Ministry of Commerce. The bulletin highlighted the most significant economic activities in promising sectors across various Kingdom of Saudi Arabia regions. The artificial intelligence (AI) sector grew by 53%, with 8,948 registrations. The Riyadh region had the highest number of commercial registrations in this sector, totaling 5,492, followed by the Makkah region with 1,789, the Eastern region with 939, Madinah with 254, and Asir with 115. Cloud-computing services also showed substantial growth, with a 43% increase resulting in 2,358 registrations in the second quarter of 2024 compared to 1,648 registrations in the same period in 2023. Again, the Riyadh region led with 1,446 commercial registrations, followed by the Makkah region with 473, the Eastern region with 272, Madinah with 57, and Qassim w ith 25. Furthermore, the electronic games industry witnessed a 29% growth in the number of commercial registrations, with 336 registrations in the second quarter of 2024 compared to 260 in the corresponding quarter of 2023. Source: Saudi Press Agency