Baku, Azerbaijan, Apr. 3
By Anvar Mammadov – Trend:
The total volume of foreign capital in the form of direct investments in Azerbaijan’s economy during 2016 amounted to $7.32 billion, and the share of the country’s oil and gas sector stood at 76.7 percent, according to the balance of payments by the Central Bank of Azerbaijan (CBA).
Compared to 2015, the volume of direct investments in Azerbaijan’s economy declined by 2.4 percent. For comparison, in 2015, the figure was $7.5 billion.
These investments were used to finance major oil and gas exploration work in Azerbaijan, which was mainly carried out within the projects by BP Exploration Caspian Sea Limited (Shah Deniz project) and Azerbaijan International Operating Company (AIOC) at the Azeri-Chirag-Guneshli block of oil and gas fields.
The volume of direct investments attracted to the non-oil sector of Azerbaijan amounted to nearly $1.71 billion, or 23.4 percent of the total amount of direct investments attracted to the country for 2016, which is nearly twice more than in 2015, according to the estimates of the CBA.
In 2015, the volume of foreign investments in Azerbaijan’s non-oil sector amounted to $860.4 million.