CBA: ‘One of the main factors of economic growth in Azerbaijan is connected with final consumption expenditures’

CBA: ‘One of the main factors of economic growth in Azerbaijan is connected with final consumption expenditures’
# 15 February 2013 14:15 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. According to results of the real sector monitoring conducted by the CBA, commodity resources declined in country’s trade within 2012, it was stated in the Central Bank’s Monetary Policy Report for 2012, APA-Economics reports.

According to the report, retail trade turnover rose 9.6% within a year, as well as commodity turnover on non-food products went up 21%. Paid services grew by 8%.

It was stated that, final consumption expenditures were one of the main factors of economic growth in 2012. During the reporting year, Nominal income per capita grew by 12.2% to AZN 3,784.3. About 61% of population income was spent to purchase of goods and services by directing to final consumption. Final consumption expenditures of population in nominal terms increased by 9.3% to AZN 21.2 bn and were equal to 39.3% of GDP.

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