Business confidence index rose in Azerbaijan by the end of 2013

Business Materials 20 February 2014 12:00

Baku, Azerbaijan, Feb.20

By - Emin Aliyev Trend:

According to the results of monitoring of the real sector of the Azerbaijani economy carried out by the Central Bank of the country (CBA) in 2013, the Business Confidence Index (BCI) in the country continued to improve, the report on monetary policy report posted on the website of the CBA said on Feb. 19.

"In the context of preserving the stability of product inventories in the industrial sector
positive trends in expectations and industrial production growth rates caused the BCI to increase in the reporting period. Monitoring results show optimistic expectations for economic activity," the report says.

The 2013 index of business confidence in industry was 11.4 percent, an increases of 2.6 percent compared to 2012, according to the CBA.

BCI in trade in Azerbaijan last year decreased slightly (by 0.1 percent) compared to 2012, at 7 percent.

"The growth trend in economic development has led to increased activity in the field of trade in durable goods. Thus, expectations and sales in the trade tended to grow. Optimistic forecasts mainly impacted the furniture trade and household appliances. Overall, the results of monitoring of the real sector show a steady increase in the number of enterprises demonstrating the growth of production and turnover," the CBA statement says.

Translated by S.I.
Edited by C.N