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Foreign investments in Azerbaijan’s economy increases by 66 percent over year

Business Materials 18 October 2013 17:13 (UTC +04:00)

Azerbaijan, Baku, Oct. 18 /Trend, A. Akhundov/

The total amount of foreign investments in Azerbaijan's economy amounted to 3,371 billion manats in January-September 2013, which is 66.21 per cent more compared to the same period of the last year, a report of the Azerbaijani State Statistics Committee (SCS) said.

According to the report, in January-September 2013 some 77.2 per cent (2601.9 billion manats) of investments in Azerbaijan's economy made by foreign countries and international organisations accounted for investors from the UK, the U.S., Japan, Norway, Turkey, the Czech Republic and France.

The UK continues to maintain a leading position in the list of foreign investors in Azerbaijan. This country's specific weight in the total foreign investments made up 32.4 per cent, while the investments totalled 1,091 billion manats.

According to the report, Norwegian investments totalled 357.74 million manats (with a specific weight of 10.6 per cent), the U.S. - 350.84 million manats (10.4 per cent), Japanese - 291.92 million manats (8.7 per cent), Czech - 214.22 million manats (6.4 per cent), Turkish - 186.34 million manats (5.5 per cent), French - 109.28 million manats (3.2 per cent), Russia and Iran - 86.46 million manats each (2.6 per cent each).

Among international financial institutions, the largest volume of investments was allocated by the World Bank - 118.53 million manats with a specific weight of 3.5 percent. In January-September, the Asian Development Bank allocated 37.41 million manats (1.1 per cent) for implementation of projects in Azerbaijan and the Islamic Development Bank allocated 7.77 million manats (0.2 per cent).

The official exchange rate for Oct. 18 is 0.7843 AZN/USD.

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