E-commerce jumps to $1.1 mln in Azerbaijan

The electronic commerce market amounted to 901,100 manats (over $1.14 million) in Azerbaijan in January-May 2013, the State Statistics Committee reported on June 12.

Some 93.6 percent of the total volume sold in the five-month period fell to foodstuffs.

Total retail sales in Azerbaijan increased 1.8 times compared to the same period of last year.

The retail sales amounted to 7.5 billion manats. Compared to the same period of 2012, the sale of consumer goods rose by 8.8 percent.

E-commerce growth is closely linked to information and communication technologies development.

2013 was declared the Year of ICT in Azerbaijan and to develop the domestic ICT sector, the ICT University was established under a presidential order in February.

Online payments in Azerbaijan became possible in early 2009. Five to six years are needed for online sales to develop fully in the country.

Currently, Azerbaijan is at the first phase of e-commerce implementation, with some products and services available online. In the future, the e-commerce sector will increase with online ticket and food ordering.

When consumers start ordering online products and service online, sellers will expand their offerings and improve the existing services, which will lead to a sizeable percentage of e-commerce volume in the country's economy.

E-commerce is an industry which concerns buying and selling of product or services online. The participants of e-commerce are legal entities and individuals engaged in e-commerce and buying goods and services.

Adapted from Today.az