TODAY.AZ / Business

Country’s consumer spending increases

22 January 2020 [12:45] - TODAY.AZ

By Azernews


By Rasana Gasimova

The value of the products sold by retail trade facilities in Azerbaijan reached 39 billion 319.7 million manats ($23.1 billion) in 2019, thus, increasing by 3.6 percent compared to 2018.

Over the year, the population’s expenditures on the purchase of food products, beverages and tobacco products amounted to 19 billion 967.4 million manats ($11.7 billion), which is a 3.2 percent increase, and to 19 billion 424.3 million manats ($11.4 billion) on the purchase of non-food products (a 4 percent increase), local media reported.

During the reporting period, 45.8 percent of consumer spending in the retail trade facilities was spent on food products, 4.9 percent on beverages and tobacco products, 17.5 percent on textile products, clothes and shoes, 6 percent on electrical appliances and furniture, 5.9 percent automobile fuel, 1.3 percent on pharmaceutical and medical products, 0.9 percent on computer, telecommunication and printing equipment, and 17.7 percent on other non-food products.

Per capita expenditures for the purchase of food products, beverages and tobacco products in 2019 amounted to $98, whereas for the purchase of non-food products - to $96.

Earlier, the State Statistics Committee noted that prices of consumer goods and services in Azerbaijan increased in 2019.

According to the information, the consumer price index grew by 2.6 percent, as did prices for food, beverages and tobacco products by 3.8 percent, for non-food items by 1.2 percent, for services - 2.1 percent.

The prices increased by 0.5 percent, prices for food, beverages and tobacco products by 0.9 percent, for non-food items - 0.2 percent, for services - 0.1 percent in November compared to October.

Meanwhile, based on the government's medium-term forecasts, inflation rate in the country is expected at 4.6 percent in 2020, 4.5 percent in 2021, 4.1 per cent in 2022, and 3.9percent 2023.

URL: http://www.today.az/news/business/190263.html

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