Osman Gunduz Considers the Significant Drop in the Country's Position in the Global Innovation Index to Be Fair

According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.

Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.

Azerbaijan's retail trade turnover witnessed a significant boost in the first nine months of 2024, as consumers spent 427 billion manats on goods. This marked a 36% increase compared to the same period in 2023, according to recent data. The retail sector's growth was driven by both food and non-food product sales, which rose by 18% and 57%, respectively.

According to the State Customs Committee, Azerbaijan's foreign trade turnover for the first eight months of 2024 amounted to $30.2 billion. Legal entities and individuals carried out trade operations with 172 countries. Of this total, exports amounted to $17.45 billion (57.8%) and imports to $12.76 billion (42.2%), resulting in a positive trade balance of $4.68 billion.