Retail trade turnover grows by 3.5% in Azerbaijan

In January-February 2024, the retail trade network sold 8.555 billion manats ($5.03 billion) worth of goods to consumers, including 4,726.4 million manats ($2.78 billion) worth of food, beverage, and tobacco wares and 3,828.6 million ($2.25 billion) worth of non-foods, Report informs, citing the State Statistical Committee.

Compared to the same period in 2023, the retail trade rose by 3.5%, food, beverage, and tobacco products went up by 2.1%, and non-food products surged by 5.2%.

During the reporting period, 50.1% of funds were spent on food, 5.1% on drinks and tobacco products, 15.3% for textiles, clothing, and footwear, 5.3% for motor gasoline and diesel fuel, 4.7% 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 15.8% 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 3.6% compared to the same period last year and amounted to 99.8% of the total retail trade turnover.

Compared to January-February 2023, retail trade turnover in real terms increased by 3.6% for enterprises, by 3.8% for individual entrepreneurs, and by 2.7% for markets and fairs.

On average, an Azerbaijani resident spent 420 manats ($247.06) per month on goods, including 232 manats ($136.47) on food, drinks, and tobacco products, and 188 manats ($110.59) on non-food products.