Tuesday, 16 July 2024

At the end of the Q2 of 2020, CITC says

Parcel Transport Market Volume Worth SR6.4 billion


Communications and Information Technology Commission (CITC) revised the indicators of the growth of the postal sector, in the Kingdom, in conjunction with the World Post Day.

It indicated that the rate of increase in the number of those licensed to transport parcels rose by 689% to 71 licensees, while the rate of increase in the number of parcels reached 25.4 million, from the third quarter of 2019 to the second quarter of 2021, indicating that the growth of the parcel market by 23% to worth SR6.4 billion, by the end of the second quarter of 2020.

The market for delivery applications has achieved unprecedented growth, as the rate of increase in the monthly average of electronic payment transactions was up 135% to reach 8.3 million, while the rate of increase in the average monthly value of requests moved up 49% to SR1.1 billion, in addition to an increase in the average number of requests, was as much as 37% reaching 9.5 million, compared to the first quarter of 2020.

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It is noteworthy that the commission assumed the regulatory and supervisory competencies of the postal sector, during the third quarter of 2019, as it has since started working on the governance of the postal sector, controlling its market, activating everything that would attract global investments, and proposing rules, norms and conditions for providing its service, in order to ensure fairness, transparency and improve the quality of service.