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Prices and situation in consumer market in Azerbaijan (January-May 2011)

Analysis Materials 18 July 2011 16:24

In January-May 2011, a rise of the retail goods turnover got restored amid continuing rise of the community services and was 9.4%. The amount of retail goods turnover comprised 8.1bln. In particular, 73.5 percent accounted for retail sales, 22.5 percent - paid services.

In January-May 2011, the trading networks of Azerbaijan sold population consumer goods at 6.253.2 billion manat, which is 9.6% more than 2010. Legal entities provided 12.9% of turnover, fairs and markets - 42.8%, individual entrepreneurs - 43.6%.

In January-May 2011, the paid service rendered to population amounted to 1.860.2 billion manat, which is 8.8 percent more as compared with 2010. Individual entrepreneurs provided 73.0 percent of services, legal entities - 26.9 percent with growth of 10.7 percent and 3.9 percent respectively.

In January-May 2011, every citizen of the country acquired consumer goods and paid services at 179.7 manat that is 17.5 percent higher than 2010, indicating that the purchasing capacity of citizens has increased.

In connection with the rapid economic development and population growth in prosperity, the Azerbaijanis preferred to global brands for many commodities, including alcoholic beverages, cigarettes and other tobacco products, motor vehicles, etc.

Prices

In May 2011 , the prices for consumer goods and tariffs for services decreased 0.4 percent compared with the previous month, and compared to January-May 2010 grew by 8.9 percent in 2010 (data from State Statistics Committee).

Compared with January-May 2010, food prices in January-May 2011 grew by 12.7 percent, non-food products - by 2.9 percent and tariffs for services - by 4.1 percent.

Thus the food prices in May fell by 0.9 percent as compared to April 2011, while prices of goods and tariffs for services remained unchanged.

In May 2011, the base index of the consumer prices incurring seasonal changes (fruits and vegetable) and being regulated by the Government remained unchanged as compared to the previous month, but increased 6.1% to January-May 2010.

As compared to the previous month, in May 2011 the index of industrial goods price decreased 5.1%, but rose 25.4% compared to the same period of the last year.

The price in oil and gas production increased 6.3 percent in May 2011 compared to previous month, but increased 29.5% compared to the same period of 2010.

The prices in refining chemical products increased 4.3% in the month, but increased 19.8% annually.

In May 2011, the prices in metallurgy increased 0.4% compared to the previous month, but rose 14.2% during the year. The prices for electricity, gas and water remained unchanged compared to previous month, but during the year dropped 0.1 percent.

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