Azerbaijan: Food supply share in consumer expenditures exceeds 50%

Business Materials 7 August 2017 20:59 (UTC +04:00)

Baku, Azerbaijan, Aug. 7

By Anvar Mammadov – Trend:

The final consumer expenditures aggregated to 20.3 billion manats, or 86.3 percent of the population’s income in 1H17, said in the report on monetary policy of the Central Bank of Azerbaijan (CBA).

According to the CBA, the growth rate of consumer expenditures increased from 3.4 percent to 6.1 percent in the period as compared to January-June 2016.

“The volume of retail trade amounted to 16.2 billion manats (growth by 1.8 percent during the year) in 1H17. Each consumer spent 353 manats on average in a month, which is 44.7 manats more than in the same period of 2016. Slightly more than half (50.1 percent) of consumer expenditures in retail chains accounted for food supplies, beverages and tobacco products,” said the report.

Each consumer spent an average of 139 manats on purchase of food supplies, beverages and tobacco products, as well as 138.8 manats for non-food products.

“Nominal income of population rose by 7.3 percent. Per capita income increased by 6.2 percent. Average monthly salary went up by 6.3 percent – up to 520.1 manats in January-May 2017,” said the report.