BAKU, Azerbaijan, March 13. Investments in fixed capital in Azerbaijan totaled 2.638 billion manat, or $1.55 billion, from January through February 2024, marking a 15.5 percent increase compared to the same period in 2023, Trend reports via the State Statistics Committee of Azerbaijan.
The data of the committee shows that the volume of investments in the oil and gas sector increased by 12.5 percent and in non-oil sectors by 17.1 percent.
At the same time, the production sector accounted for 54.6 percent of investments in fixed capital (over 1.439 billion manat or $846.5 million), services - 40.3 percent (1.064 billion manat or $625.9 million), and construction of residential buildings - 5.1 percent (133.7 million manat or $78.6 million). Domestic funds accounted for 80.4 percent of investments (over 2.121 billion manat, or $1.2 billion) directed to fixed capital.
Over 1.921 billion manat ($1.1 billion) or 72.8 percent of the funds directed to fixed capital were spent on construction and installation works during the mentioned period.
In 2023, investments in fixed capital amounted to 20.296 billion manat, or $11.9 billion, which is 9.8 percent more than in 2022.