Market situation. demand and prices

Consumer Market

In October rise in the retail goods turnover and services rendered to population was fixed n the level of 18.9%.

According the State Statistics Committee, in January to October 2006 the amount of retail goods turnover was equal to 4,624,5mln manats, or 12.7% more than 2005. The amount of commercial services rendered to population comprised 1,108,5mln manats, which is 40.9% up as compared to 10 months of 2005.

In accordance with the econometric model of the National Ban of Azerbaijan (NBA), in January to October 2006 the share of monetary factors in the formation of 7.6%-inftation was 45.1%. Major impact as made by money mass which demonstrated 92.6%-rise. Such rise falls on the period from January to August 2006. Rise in net efficiency rate on the non-oil sector was 0.2% from December 2005 to July 2006.

Considerable impact on inflation was made by non-monetary facrors (54.9%). The share of administratively regulated pirces made up 20.3% in this period, which is linked with the rise in the prices of diesel fuel in January 2 times, kerosene -1.3 times, sugar 34.6%. The impact of seasonal factors was satisfactory (-16.8%), which caused 3.6% drop in prices.

In October the participation of food products in the formation of inflation was 76.2%, including bead and bread products 3.5%, meat and meat products 21.8%, fruit and vegetable 27.5%, oil and fat 1.2%, milk and eggs 11.8%, sugar and tea 10.1%, drinks and tobacco 0.3%. In this period the share of non-food products made up 18.5%, services 5.4%.

Prices

In January to October the growth pace of inflation was 7.7% as compared to 2005, when it was at 10.5%. The consumer prices rose 11.2% in October as compared to last year.

Inconsiderable rise in the growth pace of inflation was caused by intensification of the growth pace of prices of all goods. Thus, in October the food prices rose 10.6% as compared to December. Rise in prices was 11% in January to October 2006 as compared to last year. Rise in prices of non-food products was more considerable than food prices. Thus, in October the prices of non-food products increased 5.4% as compared to December. Rise in prices as compared to last year was 5%.

In January to September local production failed to cover domestic demand, while import covered the considerable part of demand. As to foreign demand on local export product it remains to be high, while the export sector speeds up.

The special weight of export in GDP dropped from 7.7% in January to September 2005 to 8.4% in January to September of 2006.

As compared to September 2006, in October index of industrial goods dropped 0.9%, while the figure rose 17.8% as compared to January to October 2005 and 16.1% as compared to October 2005. In accordance with the figures fixed in December 2005 rise in prices was 17.8% in October. Rise in prices in the oil and gas production was 13.6% in January to October 2005 and 9.7% - in October 2005.

The wholesale prices in oil refinery rose 24.2%, while growth pace was 27.4% in October 2006 as compared to 2005. Over 2006 rise in the refinery of chemical products was 1.3%, in October 9.8%, in metallurgy 10.5% and 11.4% respectively, whereas he prices remained almost unchanged and made up 99.9%.

Subscribe to Trend in Google News! Subscribe
EU welcomes welcomes willingness of Armenia and Turkey to work on normalization of their relations
EU welcomes welcomes willingness of Armenia and Turkey to work on normalization of their relations
Armenia creates working group for construction of section of Zangezur corridor
Armenia creates working group for construction of section of Zangezur corridor
Turkish Foreign Ministry talks negotiations between emissaries of Ankara, Yerevan
Turkish Foreign Ministry talks negotiations between emissaries of Ankara, Yerevan
Loading Bars
Latest
Israel registers 27,167 new COVID-19 cases, 1,785,551 in total
India's gold imports jump over two-fold to $38 bn in Apr-Dec 2021
Number of participants of illegal actions detained in Almaty increased to 2,6 thousand people
Turkey registers 54,100 daily COVID-19 cases
N.Korea fires two ballistic missile from Pyongyang airport, S.Korea says
PM Narendra Modi calls for innovating for India, from India
Vessel traffic in Bosphorus restored
UK's Johnson plans to scrap COVID-19 self-isolation law
Jaishankar, Rajapaksa discuss energy projects, credit lines
Tsunami advisory canceled for Bay Area in U.S. California
Volkswagen to step up EV production in China
Let’s talk stress-free exams: PM Narendra Modi on ‘Pariksha Pe Charcha’
Djokovic flies out of Australia after losing court appeal
Vaccination added great strength to fight against Covid: Indian PM
Azerbaijan's patience not unlimited: on demarcation of borders and Armenia's attempts to play for time
French parliament approves vaccine pass
Speaker of Montenegrin Parliament arrives on official visit to Azerbaijan (PHOTO)
Erdogan visits Albania in first trip abroad in 2022
COVID-19: new 900 cases registered in Uzbekistan
$2.7b of goods exported to Persian Gulf regional countries: Iran's official
India’s stance on Nepal boundary well known, consistent & unambiguous: Embassy
Oil India exits US shale venture, sells 20% stake for $25 million
Construction of new road and tunnel near Georgian-Russian border will be completed by 2024
Dutch FMO reveals details of investing in Uzbekistan's economy, ties with banks
Nearly 150 civilians, over 10 law enforcers killed in riots in Almaty
Delhi weekend curfew, restrictions helped mitigate Covid spread: Health Minister
Over 1,300 weapons stolen during riots in Almaty
Gunmen kill more than 50 in Nigeria's northwest, residents say
Magnitude 5.3 earthquake shakes western Turkey's Gokceada
Iran’s Bahar Azadi gold coin price continues to fall
How women health workers took India’s Covid vaccination programme to remote corners
Azerbaijan’s self-sufficiency in wheat reaches 60%
Iran discloses volume of citrus fruits to be harvested in country
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 808 more COVID-19 cases, 369 recoveries
PCR test requirement for flights continues
Azerbaijani Mortgage and Credit Guarantee Fund sets limits for preferential mortgage loans by banks in 2022
Azerbaijan discloses GDP growth for 2021
Weekly review of main events of Azerbaijani financial market
Child killed, 4 wounded in roadside bomb blast east of Afghan capital
Iran reveals COVID-19 data for January 16
Weekly review of main events in Azerbaijani transport sector
Iran eyes increase in trade turnover with Russia
Azerbaijani MFA comments on Armenian side’s allegations about alleged "pogroms"
Azerbaijan’s economy growing sustainably
Jordan army officer killed in shooting along border with Syria
Over 139 mln coronavirus vaccine shots given in Turkey to date
Iran's Energy Exchange announces products to be on sale on January 16
Azerbaijan is of great regional and global importance - American Jewish Committee
Azerbaijani Defense Ministry presents weekly review (VIDEO)
Georgia publishes COVID-19 data for January 16
National Bank of Georgia shares data on liabilities to non-residents
Kyrgyzstan logs 874 new COVID-19 cases
Iranian currency rates for January 16
Britain will no longer require COVID tests for fully vaccinated travellers
Argentina's COVID-19 tally surpasses 7,000,000
All synagogue hostages "out alive and safe" in U.S. Texas (UPDATE)
Russia, West are ‘on totally different tracks’ - Kremlin spokesman
Restoration work in liberated areas - foundation to Azerbaijan's further development
Philippines finalises deal to acquire missile system from India for $375 mn
Czech president opposes abuse of Olympic idea for political aims
Turkey confirms 63,967 daily COVID-19 cases
England opens COVID booster jab programme to 16- and 17-year olds
AICTE, 5ire partner to launch the world's biggest happiness blockchain
US hopes to continue security dialogue with Russia - Department of State
French 2021 budget deficit seen lower than expected at 7% of GDP -minister
Migrant caravan leaves Honduras en route to U.S.
Piyush Goyal suggests 5-point reform agenda for FCI
Omicron detected in Beijing as China battles COVID-19 clusters
UK seven-day COVID-19 infections down 33% on week before
Under pandemic cloud, 24k people to attend R-Day parade with protocols
Iran president eases COVID curbs as deaths fall
Covid-19 India highlights: India logs over 2.6 lakh cases, 402 deaths in a day
Apple to require employee proof of COVID-19 booster
Azerbaijan hands over one more citizen who got lost back to Armenia
Passenger vehicle dispatches slide 13% in December on chip shortage: SIAM
Israeli finance minister tests positive for coronavirus
We welcome beginning of Turkish-Armenian contacts - Deputy FM of Azerbaijan
Tsunami recorded in southwestern Japan, with waves of about 1.2 meters
20 attacks on healthcare facilities were committed during riots in Kazakhstan - Ministry of Health
CSTO peacekeepers will be withdrawn from Kazakhstan until January 19
10th century idol discovered in England, handed over to India
"Red level" of terrorist threat remains in three regions of Kazakhstan
Opening of Zangazur corridor to create new opportunities for region - Analysis
Representative delegation of Afghanistan arrived in Turkmenistan (PHOTO)
225 people die as result of riots in Kazakhstan
Azerbaijan to hold Technofest festival in 2022
Uzbekistan’s GDP grew by 7.4% in 2021 – President
Turkey eyes $35 billion in tourism revenues in 2022
Georgian Ministry of Health reduces quarantine period for fully vaccinated
Azerbaijan to hold auction for privatizing state properties
Baku Metro to receive four more new trains
Iran’s MOGPC could resume maximum crude oil extraction in short time
5.0-magnitude quake jolts eastern Iran
Iran’s Bahar Azadi gold coin price dips
IED found at Ghazipur flower market; defused, says report
Azerbaijan to hold Second Karabakh Economic Forum in 2022
Iran reveals COVID-19 data for January 15
World Bank continues digital development in Georgia
Turkmenistan considering purchasing road construction equipment from John Deere
All news