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Azerbaijani enterprises' eight-month retail trade turnover down

Business Materials 11 September 2020 16:39
Azerbaijani enterprises' eight-month retail trade turnover down

BAKU, Azerbaijan, Sept.11

By Fidan Babayeva – Trend:

The value of products sold in retail chains in Azerbaijan amounted to slightly 24.5 billion manat ($14.4 billion) from January through August 2020, which is 1.8 percent less than in the same period of 2019, Trend reports referring to a report of the State Statistics Committee.

According to the committee, the trade turnover of food, drinks and tobacco products amounted to 13.3 billion manat ($7.8 billion), and non-food products – 11.3 billion manat ($6.6 billion). The cost of sold food products grew by 3.3 percent over the year, while non-food products decreased by 6.9 percent.

The commodity market indicators for the reporting period is as follows:

Groups of products

Revenues from sales

(manat)

Annual difference (in percent)

Retail trade turnover

24.5 billion ($14.4 billion)

-1.8

Food, drinks and tobacco

1.3 billion ($760 million)

+3.6

Textiles, clothing and footwear

3.5 billion ($2 billion)

-19

Electrical goods and furniture

1.35 billion ($790 million)

-8

Computers, telecommunication equipment and printing products

190.2 million ($111.8 million)

-4.6

Pharmaceutical and medical products

439.6 million ($258.5 million)

+37.7

Motor fuel

1.33 million ($780,000)

-0.5

Other non-food products

4.3 billion ($2.5 billion)

+0.4

In the first eight months of this year, 48.9 percent of the funds spent by buyers (final consumption goods) fell on food, 14.6 percent - on textiles, clothing and footwear; 5.5 percent - furniture and electrical appliances.

Some 5.4 percent of the total spending accounted for the purchase of fuel, 1.8 percent - pharmaceutical and medical products, computers, telecommunications equipment and printing products - 0.8 percent, and other non-food products -17.8 percent.

From January through August of 2020, the share of enterprises in retail turnover rose by 8.9 percent, of individual entrepreneurs - 1.1 percent, and of markets and fairs - declined by 13.7 percent over the year.

Retail turnover of enterprises grew by 27.5 percent in real terms, of individual entrepreneurs - 0.1 percent, and of markets and fairs – edged down by 5.1 percent compared to the seven months of 2020.

At the same time, the average monthly retail trade turnover per capita amounted to 308.1 manat ($181.2), a year-on-year growth of 2.5 manat ($1.4) in nominal terms.

In 2019, the average monthly volume of sold food products per person amounted to 166.7 manat ($98), and non-food products - 141.4 manat ($83.2).

(1 USD = 1.7 manat on Sept.11)

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Follow the author on Twitter: @Fidan_Babaeva

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