Retail trade turnover grows by 3% in Azerbaijan

In January 2024, the retail trade network sold 4.5 billion manats ($2.65 billion) worth of goods to consumers, including 2.5 billion manats ($1.47 billion) worth of food, beverage, and tobacco wares and 2 billion manats ($1.18 billion) worth of non-foods, Report informs, citing the State Statistical Committee.

Compared to the same period in 2023, the retail trade rose by 3.4%, food, beverage, and tobacco products went up by 2.1%, and non-food products surged by 5%.

During the reporting period, 49.9% of funds were spent on food, 5% on drinks and tobacco products, 14.3% for textiles, clothing, and footwear, 5% for motor gasoline and diesel fuel, 4.6% for electrical goods and furniture, 2.4% for pharmaceuticals and medical supplies, 1.3% for the purchase of computers, telecommunications equipment, and printed products, and 17.5% for other non-food products.

During the reporting period, the cost of goods sold by economic entities in the non-state sector increased in real terms by 3.5% compared to the same period last year and amounted to 99.8% of the total retail trade turnover.

Compared to January 2023, retail trade turnover in real terms increased by 2.6% for enterprises, by 4.2% for individual entrepreneurs, and by 2.7% for markets and fairs.

On average, an Azerbaijani resident spent 441.3 manats ($259.59) per month on goods, including 242.3 manats ($142.47) on food, drinks, and tobacco products, and 199 manats ($117.06) on non-food products.