Azerbaijan's retail sales surge

Between January and July of this year, Azerbaijan's retail sector recorded sales totaling 32.3 billion manats.

This figure includes 17.8 billion manats in food products, beverages, and tobacco, and 14.5 billion manats in non-food items, Azernews reports citing the State Statistics Committee.

Compared to the same period last year, the retail trade turnover has increased by 3.4% in real terms. Within this, the sales of food products, beverages, and tobacco saw a rise of 1.9%, while non-food products grew by 5.3%.

During January-July 2024, spending patterns showed that 50.6% of consumer expenditure in the retail sector was on food products. Drinks and tobacco products accounted for 4.6%, textile products, clothing, and shoes made up 12.8%, automobile gasoline and diesel fuel comprised 5.6%, electrical goods and furniture represented 4.8%, pharmaceutical products and medical supplies were 2.3%, and computers, telecommunication equipment, and printing products contributed 1.2%. The remaining 18.1% was spent on other non-food items.

In this period, goods sold by non-state economic entities increased by 3.4% in real terms compared to the previous year, constituting 99.7% of the total retail trade turnover. Retail trade turnover for enterprises grew by 10.2% in real terms, individual entrepreneurs saw a 0.2% increase, and markets and fairs experienced a 2.1% rise compared to January-July 2023.

On average, each person spent 452.2 manats per month, with 249.5 manats allocated to food products, beverages, and tobacco, and 202.7 manats on non-food goods.