In 2016, income of the population in Azerbaijan amounted in nominal terms to 45 billion 395.1 million manat, increasing by 8.7%, the State Statistics Committee said.
Cash income per capita exceeded 4,700 manat (+ 7.5%) or 392.5 manat per month.
According to SSC, 76.3% of the revenue is directed to the final consumption, 8.4% - payment of taxes, insurance premiums and membership fees, and 2.9% - repayment of loans and interest on them. Citizens saved 12.4% of their income.
According to official statistics, there was growth of people’s income against the background of economic crisis, state budget cuts, the closure of jobs and so forth negative factors.
At the same time, inflation in Azerbaijan totaled 12.4% in 2016 (SSC). Thus, for the first time in many years, no real growth of the population’s incomes was noted. ---08B
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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