Baku, Azerbaijan, Nov. 7
By Anvar Mammadov – Trend:
The final consumption expenditure amounted to 31.1 billion manats in Azerbaijan in January-September 2017, which is 85.8 percent of the population's income, according to a monetary policy report of the Central Bank of Azerbaijan (CBA).
According to the report, the consumer spending growth rates increased from 1.9 percent to 6.1 percent in January-September 2017 compared to the same period of 2016.
"The retail trade volume amounted to 24.8 billion manats in January-September 2017 (an increase of 1.2 percent for the year),” the report said. “Each consumer spent an average of 362.5 manats per month in January-September 2017, which is 47.2 manats more than in the same period of 2016. Moreover, 50.6 percent of consumer spending accounts for food, beverages and tobacco products.”
Each consumer spent on average 143.5 manats per month on food, beverages and tobacco, while 139.9 manats on non-food items.
"Nominal income of the population increased by 8 percent in the country, while income per capita increased by 6.9 percent,” the report said. “The average monthly salary increased by 7.4 percent to 524.7 manats in January-September 2017.”
(1.7003 AZN = $1 on Nov. 7)