Baku, Azerbaijan, May 17
By Anvar Mammadov - Trend:
The consumer spending stood at 8.3 billion manats in Azerbaijan in the first quarter of 2016, or 81 percent of population's incomes, said the report of the Central Bank of Azerbaijan on monetary policy.
The official exchange rate on May 17 is 1.5033 AZN/USD.
The growth rate of the consumer spending has decreased from 8.7 percent to 5.2 percent in the first three months of 2016 as compared to the same period in 2015, according to the report.
"The volume of retail trade stood at 6.8 billion manats (3.4-percent increase) in the first quarter of 2016," said the CBA. "Each consumer spent on average 306.5 manats per month, or 37.5 manats more than in the same period in 2015."
Slightly more than a half (50.5 percent) of consumer spending in retail trade system has accounted for food products, beverages and tobacco products, said the report.
Each consumer spent on average 119.1 manats per month to purchase food, beverages and tobacco products and 116.8 manats to buy non-food products.
This is while a part of the non-food products was purchased online, said the CBA.
During the reporting period, the online sale of food products rose by 3.1 percent as compared to the first quarter of 2015.
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