BAKU, Azerbaijan, March 29. Households accounted for the largest share of loans issued in Azerbaijan as of February 29, 2024, accounting for 58.58 percent of the total volume of lending, Trend reports.
According to the Central Bank of Azerbaijan (CBA), the volume of loans issued to households increased by 2.7 billion manat ($1.5 billion), or 23.57 percent (from 11.5 billion manat ($6.7 billion) to 14.2 billion manat ($8.3 billion)) in the mentioned period.
Meanwhile, the crediting of the trade and services sector grew by 313.9 million manat ($184.5 million), or 9.68 percent, to 3.5 billion manat ($2 billion) against 3.2 billion manat ($1.8 billion) in the same period of last year. The share of the trade and services sector in the total volume of lending amounted to 14.6 percent.
| Scope of the economy: | Volume of loans, in manat 2024 (as of February 29) | Volume of loans, in manat 2023 (as of February 28) | Share, 2024, % | Share, 2023, % |
| Trade and services | 3.5 billion ($2 billion) | 3.2 billion ($1.8 billion) | 14,60 | 16,01 |
| Energy, chemistry, and natural resources | 869.8 million ($511.4 million) | 644.4 million ($378.8 million) | 3,57 | 3,18 |
| Agriculture and processing | 513.1 million ($301.6 million) | 618.3 million ($363.5 million) | 2,11 | 3,05 |
| Construction and property | 1.1 billion ($646 million) | 1 billion ($588 million) | 4,59 | 5,26 |
| Industry and manufacturing sector | 1.4 billion ($823 million) | 1 billion ($588 million) | 5,80 | 5,31 |
| Transportation and communication | 1.4 billion ($823 million) | 770.3 million ($452.9 million) | 6,03 | 3,80 |
| Households | 14.2 billion ($8.3 billion) | 11.5 billion ($6.7 billion) | 58,58 | 57,00 |
To note, crediting of the real sector of Azerbaijan's economy as of February 29, 2024, as a whole increased by 21.04 percent or 4.2 billion manat ($2.4 billion) compared to the same period in 2023 (from 20.3 billion manat ($11.9 billion) to 24.6 billion manat ($14.4 billion)).
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