E-commerce growth in Azerbaijan exceeds 90% within first 9 months of 2019

  06 November 2019    Read: 504
  E-commerce growth in Azerbaijan exceeds 90% within first 9 months of 2019

In the first nine months of 2019, the volume of e-commerce in Azerbaijan increased by 91 percent and amounted to 2.2 billion manat ($1.3 billion), First Deputy Chairman of Azerbaijan’s Central Bank (CBA) Alim Guliyev said at the IV International Banking Forum, AzVision.az reports Nov. 6 from the event.

Noting the rapid development of e-commerce in Azerbaijan, Guliyev added that this growth will accelerate the exemption of e-commerce from VAT, which currently stands at 18 percent.

The two-day IV International Banking Forum, one of the most prestigious financial and banking events in the region, is taking place in Baku with the support of CBA, the Financial Market Supervisory Authority (FIMSA) and the Center for Analysis of Economic Reforms and Communications.

The forum brings together heads of regulatory and control bodies in the financial and banking sector, leading managers of commercial banks and other participants of the financial sector.


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