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Prices and situation in consumer market in Azerbaijan (Summary of 2017)

Analysis Materials 16 February 2018 17:27 (UTC +04:00)

According to the State Statistics Committee, in 2017, 45.3 billion manat accounted for the Azerbaijani consumer market, which is by 2.2 percent more than turnover in 2016.

The monthly consumer expenses are estimated at 387.9 manat per capita in 2017 or by 48.8 manat more compared to 2016.

The retail trade turnover amounted to 35.26 billion manat in 2017, which is by 2.5 percent more than in 2016.

According to the Azerbaijani State Statistics Committee, food trade (17,883.4 million manat) increased by 1.9 percent in real terms.

Some 17,384.7 million manat (3.1 percent of real growth) accounted for the retail sales of non-food items.

Paid services worth 8.636 million manat were rendered to the population in 2017 or by 1.2 percent more compared to 2016. Legal entities ensured 72.5 percent of this growth and rendered the services worth 6,258.7 million manat.

Every citizen of the country used paid services worth 887.2 manat per month in 2017, which is by 76.9 manat more than in 2016.

Transportation, public utilities and communication services prevail in the structure of paid services.

Prices

According to the State Statistics Committee, the prices on consumer goods and tariffs for services increased by 12.9 percent in 2017 compared to 2016.

The food prices increased by 16.4 percent, prices for non-food items - 11.6 percent, the price for paid services - 9.3 percent during the reporting period.

Monthly inflation for December was 0.5 percent in Azerbaijan.

The food prices increased by 1 percent, non-food items - by 0.2 percent, paid services remained unchanged in Azerbaijan for the month.

The base index of consumer prices, calculated except for the goods and services subject to seasonal changes (fruits and vegetables) increased by 12.1 percent in 2017 compared to 2016.

The producer prices for industrial products increased by 2.6 percent in Azerbaijan in December 2017 compared to November 2017.

During the reporting period, producer prices in the mining industry increased by 2.6 percent, while in the manufacturing industry - 0.6 percent.

The producer prices for industrial products increased by 36.8 percent, while the producer prices in the mining industry - by 36.5 percent and manufacturing industry - 30.3 percent in 2017 compared to 2016.

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