BAKU, Azerbaijan, June 29. The volume of
e-commerce in Azerbaijan is expected to reach 90 billion manat
($52.9 billion) by the end of the year, Zeynal Kerimzade, Director
of Epoint, said at the “Digital Financial Agenda of Azerbaijan”
event held in Baku, Trend's correspondent reports from the event.
According to him, the forecast is based on the current growth
trajectory of the market.
“If in 2025 the volume of e-commerce amounted to 86 billion
manat ($50.5 billion), then by the end of 2026 it is expected to
reach 90 billion manat ($52.9 billion). After the pandemic, the
e-commerce market showed significant growth, with fintech companies
playing a major role in this process.
According to the State Tax Service, Azerbaijan has 882,000
active taxpayers, of which 822,000 are small and medium-sized
enterprises,” he said.
He noted that the level of digitalization among entrepreneurs
currently remains below 1%.
“This means there are significant opportunities for fintech
companies, as these entrepreneurs are expected to gradually shift
to digital services. A large share of the market still operates
through informal payment methods, including card-to-card transfers,
cash payments, and transactions via e-wallets,” Kerimzade said.
He expressed confidence that in the coming years, and even
months, a growing share of such transactions will move into the
formal digital segment, creating new opportunities for the fintech
market.
The Epoint director added that the growth dynamics of e-commerce
turnover and transaction volumes differ, which also reflects
current market trends.
