BAKU, Azerbaijan, Oct. 17
By Zeyni Jafarov - Trend:
The World Bank (WB) forecasts the consumer market of Azerbaijan will decrease by 5.2 percent in 2020, Trend reports referring to WB's updated report on Europe and Central Asia.
However, this year’s April forecast of the WB envisaged the growth of the country’s consumer market by 0.5 percent
According to the bank, the report provides for the growth of this market by 1.3 percent in 2021, and in 2022 - by 2.2 percent, contrary to the April forecasts, which consider the growth of 3.2 and 3.3 percent in 2021 and 2022, respectively.
In 2019, operations of goods and services in Azerbaijan were estimated at 50.7 billion manat ($29.8 billion), which indicated an increase of 3.6 percent compared to 2018.
According to the State Statistical Committee of Azerbaijan, from January through September 2020, the consumer market of Azerbaijan amounted to 28 billion manat ($16.4 billion), which is 1.6 percent less compared to the same period of 2019.
(1 USD = 1.7 AZN on Oct. 17)