Volume of e-commerce in Azerbaijan up by over 18%

Finance Materials 28 February 2019 14:06 (UTC +04:00)
Volume of e-commerce in Azerbaijan up by over 18%

Baku, Azerbaijan, Feb. 28

By Sara Israfilbayova – Trend:

In 2018, non-cash transactions in Azerbaijan accounted for 17 percent of all operations with payment cards, Alim Guliyev, first deputy chairman of the Central Bank of Azerbaijan, said at an event dedicated to non-cash payments in Baku, Trend reports.

According to Guliyev, the transition to non-cash payments is one of the banks’ main tasks.

"This contributes to ensuring economic transparency. We have been implementing measures to this end in recent years, which are already bearing fruit," he said.

The volume of interbank payments in 2018 amounted to 274 billion manats.

The deputy chairman also noted a rise in the field of e-commerce.

"The volume amounted to 36.4 billion manats in 2017 and went up by 18.7 percent this year."

Despite this, Azerbaijan still lags behind developed countries in these indicators, according to Guliyev.