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Direct foreign investments in Azerbaijan’s economy drop

Direct foreign investments in Azerbaijan’s economy drop

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Date: 17 December 2015 22:22

Baku, Azerbaijan, Dec.17

By Anvar Mammadov – Trend:

The volume of direct foreign investments made in Azerbaijan’s economy in three quarters of 2015 totaled $5.7 billion of which 88.2 percent accounted for the oil and gas sector, said the website of the country’s Central Bank.

Direct foreign investments in the country’s economy have dropped by 1.72 percent compared to Jan.-Sept. 2014 ($5.8 billion).

These investments were used to finance the major oil and gas work on Azerbaijan’s territory primarily carried out as part of the projects of BP Exploration (Shah Deniz) and Azerbaijan International Operating Company at Azeri-Chirag-Guneshli block of oil and gas fields.

Direct foreign investments attracted in the non-oil sector during the reporting period totaled $678 million or 11.8 percent of the total volume of investments made in the country’s economy in three quarters, according to the Central Bank.

This figure is 20.7 percent less than in the same period in 2014.

The volume of foreign investments in Azerbaijan’s non-oil sector stood at $855 million in Jan.-Sept. 2014.

Edited by SI

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