The Central Bank of Republic of Azerbaijan (CBA) issued a report on monetary policy for the first half of 2015. According to the authors, consumer price inflation made up 3.5% in Azerbaijan by July 1.
Most of all from January to the end of June, prices rose for oils and fats (11.8%), fruit (10.5%), bakery products (9.5%), coffee, tea and cocoa (9.4%), local agricultural products (8.7%). Food crop production fell by 15.6%, fish and fish products - by 3.8%, and animal products - by 1.5%.
The report's authors believe that the results were impacted by high inflation in partner countries, as seasonal factors and changes in world food prices played a fall in inflation. --17D-
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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