BAKU, Azerbaijan, May 18
By Eldar Janashvili – Trend:
The volume of nominal incomes of Azerbaijan’s population increased by 7.4 percent in 2019 compared to 2018 and reached 57 billion manat ($33.5 billion), while per capita income grew by 6.5 percent and amounted to 5,758 manat ($3,390), an average of 479.9 manat ($282.2) per month, Trend reports referring to the country’s Ministry of Economy.
In the reporting year, the average monthly salary in the country rose by 16.6 percent compared to 2018 and amounted to 634.8 manat ($373.4). Compared to the price index, the population’s incomes and average monthly salaries rose by 4.8 percent and 14 percent, respectively.
The state’s total foreign exchange reserves in the reporting year climbed up by $6.6 billion, reaching $51.1 billion as of January 1, 2020. This indicator was equal to imports of goods and services for a period of about 4 years and surpassed the external debt by nearly 5 times.
In 2019, funds allocated for fixed assets totaled 17.2 billion manat ($10.1 billion), which is 2.3 percent less than in 2018, due to a declined investment in the oil sector. On the other hand, the volume of funds allocated to the non-oil sector grew by 1.9 percent, including investments in non-oil industry - by 23 percent.
In the structure of financial resources, the volume of domestic resources amounted to 69.8 percent or 12 billion manat ($7.06 billion). Consumer price index (inflation) in the reporting year made up 2.6 percent.
The total balance of payments surplus in 2019 amounted to $5.1 billion. Thus, a surplus in the current balance of $4.4 billion led to an increase in the overall balance of payments. The surplus in the current account balance was formed mainly due to the surplus in the trade balance.
According to the country’s State Statistical Committee, the volume of foreign trade operations in the reporting year amounted to $33.1 billion, of which $13.7 billion came from import operations and $19.5 billion - from export operations. As a result, the foreign trade account had a surplus of $5.8 billion.
In the reporting year, the export share of non-oil products in foreign trade turnover increased by 13.9 percent compared to 2018, and in real terms - by 7.8 percent.
(1 USD = 1.7 AZN on May 18)