BAKU, Azerbaijan, April 14. Azerbaijan’s fixed capital investments amounted to 3.5 billion manat ($2.06 billion) from January through March 2023, increasing by 40.3 percent year-over-year, Trend reports referring to Azerbaijan’s State Statistical Committee.
In the reporting period, investments in the oil and gas sector increased by 23.8 percent, while investments in the non-oil sector increased by 51.7 percent on an annual basis.
Meanwhile, 55.1 percent (1.9 billion manat or $1.12 billion) of investments accounted for the manufacturing sector, 39.6 percent (1.39 billion manat or $817.6 million) – service sector, 5.3 percent (185.3 million manat or $109 million) – construction of residential buildings. Some 73.2 percent (over 2.57 billion manat or $1.51 billion) of investments was from internal funds.
A total of 2.517 billion manat or $1.48 billion (71.5 percent of fixed capital investments) have been spent on construction and installation work.
Out of the total fixed capital investments, enterprises, and organizations made up 45.8 percent, budgetary funds – 39 percent, personal funds of the population – 6.4 percent, bank loans – 4.1 percent, and other funds – 4.7 percent.
In 2022, fixed capital investments settled at 18.27 billion manat ($10.7 billion), which was 5.5 percent more than in 2021.