Seventy percent of investments in Azerbaijani economy fall to non-oil sector

Azerbaijan, Baku, July 15 / Trend N.Ismayilova /

About 4.476.6 billion manat was invested in the economy of Azerbaijan in the first half of 2011, or 17.8 percent more than the same period of 2010, the Azerbaijani State Statistics Committee reported.

Investments for repair and construction work made up 2.560.1 billion manat totaling 57.2 percent. Investment for the construction of production facilities totaled 2.179.8 billion manat, while non-production facilities totaled 2.296.8 billion manat.

About 72.8 percent fall to internal investments. Most (2.501.5 billion manat) of internal investments is embedded in state-owned enterprises and organizations and only 1.975.1 billion manat - to private enterprises.

About 1.311.7 billion manat were invested to the construction of facilities, funding of which is realized at the expense of budget funds.

Major sources of investing were funds of enterprises and organizations (2.320.2 billion manat or 51.8 percent of the total amount of investments), bank credits (493.1 million manat, 11 percent), budget funds (1.388.8 billion manat, 31 percent), non-budgetary funds (123.5 billion manat, 2.8 percent), population's personal funds (148.8 million, 3.3 percent) and other funds (2.2 million, 0.1 percent).

Of the total amount 71.1 percent were directed (3.182.1 billion manat) to the development of non-oil sector, 15.4 percent (687.9 million manat) - non-oil industrial sector, 28.9 percent (1.294.5 billion manat) - oil sector.

About 44.3 percent of investments fell to industrial areas, 3.4 percent - agriculture, forestry and fishery, 5 percent - trade, 19.2 percent - transport, 2.1 percent - communications, 1.5 percent - health care, 1.7 percent - education, 9.5 percent - real estate transactions (of which 9.3 percent - housing), 1 percent - construction, 4.1 percent - sports, entertainment and culture, 5.7 percent - state management, 0.1 percent - financial and insurance activity, 0.4 percent - administrative and support services and 0.3 percent - other spheres.

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