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

Analysis Materials 15 September 2011 12:02

In January-July 2011, a rise of the retail goods turnover got restored amid continuing rise of the community services and was 9.5%. The amount of retail goods turnover comprised 11.6bln. In particular, 74.6 percent accounted for retail sales, 21.1 percent - paid services.

In January-July 2011, the trading networks of Azerbaijan sold population consumer goods at 8.873.8 billion manat, which is 10.0% more than 2010. Legal entities provided 12.9% of turnover, fairs and markets - 42.7%, individual entrepreneurs - 43.7%.

In January-July 2011, the paid service rendered to population amounted to 2.738.3 billion manat, which is 8.1 percent more as compared with 2010. Individual entrepreneurs provided 73.0 percent of services, legal entities - 26.9 percent with growth of 10.2 percent and 2.7 percent respectively.

In January-July 2011, every citizen of the country acquired consumer goods and paid services at 183.3 manat that is 17.3 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 July 2011, the prices for consumer goods and tariffs for services decreased 0.8 percent compared with the previous month, and compared to January-July 2010 grew by 8.7 percent in 2010 (data from State Statistics Committee).Compared with January-July 2010, food prices in January-July 2011 grew by 11.9 percent, non-food products - by 2.8 percent and tariffs for services - by 4.4 percent.

Thus, the food prices in July fell by 1.6 percent as compared to July 2011, while prices of goods and tariffs for services remained unchanged.

In July 2011, the base index of the consumer prices incurring seasonal changes (fruits and vegetable) and being regulated by the Government decreased by 0.2 percent as compared to the previous month, but increased 6.0% to January-July 2010.

Compared with the previous month, in July 2011, the index of industrial producer prices rose by 1.4 percent, compared to the same period of 2010, prices rose by 26.6 percent. Prices rose by 1.9 percent in the oil and gas production in July compared to the previous month, but rose by 31.1 percent compared to the same period of 2010.

In the processing of chemical products, prices dropped by 3.8 percent during the month, but rose by 21.5 percent per annum. In July 2011, the prices in metallurgy fell by 3.5 percent compared to the previous month, but increased by 11.6 percent during the year. In July, prices for electricity, gas and water remained unchanged as compared to the previous month, while fell by 0.1 percent per annum.

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