Azerbaijan’s Central Bank reveals share of food products in citizens’ expenditures

Business Materials 22 February 2018 10:38 (UTC +04:00)

Baku, Azerbaijan, Feb. 22

By Anvar Mammadov - Trend:

In 2017, the final consumption expenditure in Azerbaijan stood at 40.8 billion manats, or 83.1 percent of the population’s income, said the monetary policy report of the Central Bank of Azerbaijan (CBA).

The bank noted that consumption expenditure growth rates increased from 2.4 percent in 2016 to 4.4 percent in 2017.

“Last year, the retail trade stood at 35.3 billion manats (a 2.5 percent increase for the year),” the report said. “Each consumer spent an average of 387.9 manats per month, which is 48.8 manats more than in 2016. A little more than half (50.7 percent) of consumer spending in retail chains accounted for food products, beverages and tobacco products.”

Each consumer spent an average of 153.1 manats on food products, beverages and tobacco products, as well as 148.8 manats on non-food products.

“Nominal income of the population grew 8.3 percent,” the report noted. “Per capita income increased by 7.2 percent. The average monthly salary grew 6.2 percent to 525 manats in 2017.”

(1.7001 manats = 1 USD on Feb. 22)