Baku, Azerbaijan, May 24
By Anvar Mammadov - Trend:
In 1Q18, the final consumer spending in Azerbaijan amounted to 10.8 billion manats, or 86.4 percent of the population's income, the Central Bank's monetary policy report says.
The CBA notes that this is 2.5 percent more than in the same period of 2017.
"In the period, the volume of retail trade amounted to 8.5 billion manats (an increase of 2.6 percent). Each consumer spent an average of 367.7 manats per month, which is 20 manats more than in 1Q17. Slightly more than half (50.7 percent) of consumer spending in retail chains falls on food, beverages and tobacco," the report said.
Each consumer spent an average of 146.6 manats per month for the purchase of food, beverages and tobacco products, as well as 142.6 manats for non-food products.
"The nominal income of the population increased by 9.8 percent. Per capita income increased by 8.8 percent. The average monthly salary in 1Q18 increased by 2.2 percent to 510.8 manats compared to 1Q17," the report says.
(1.7 AZN = 1 USD on May 24)
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