Salary growth rate cedes to that of the price rate
An average monthly nominal salary in Azerbaijan made AZN498,6 (US$ 288 at the current exchange rate) as of January 1, 2017, which is by 6,9% more than the index of 2016, the State Statistics Committee reported.
The employees engaged inextractive sector, financial and insurance activities, information and communications sphere, professional, scientific and technical activities and construction works, are reported to have the highest salaries.
According to the State Statistics Committee, as of January 1, 2017, the total number of hired workers in Azerbaijan’s economic sphere made 1million 514 thousand people, including 889,9 thousand people engaged in the state-run sector of the economy and 624,1 thousand – in the private sector.
For comparison: the national currency, Manat, exchange rate against the US dollar dropped by 64%(1.0491 as against the current 1.7301) over the past 1,2 years.