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Foreign investments in Azerbaijan's economy increase by 12 percent

Business Materials 18 October 2012 17:26 (UTC +04:00)

Azerbaijan, Baku, Oct. 18 / Trend J. Nasibova /

The total volume of foreign investments in Azerbaijan's economy in January-September 2012 amounted to 2.028.1 billion manat, which is 11.9 percent more than the same period of 2011, Azerbaijani State Statistics Committee said today.

In January-September, 91.6 percent (1.858 million manat) of investments in Azerbaijan's economy made by foreign countries and international organizations fell to investors from the UK, U.S., Japan, Norway, Turkey, Czech Republic and France.

As before, the UK continues to retain its leading position in this list. Its share in total foreign investments hit 48.8 percent, while its investments amounted to 990.509 million manat.

Investments of the U.S. amounted to 336.5 million manat (16.6 per cent), Japan - 224.7 million manat (11.1 percent), Norway - 123 million manat (6 percent), Turkey - 97 million manat (4.8 percent), Czech Republic - 50.3 million manat ( 2.5 percent), France - 35.9 million manat (1.8 percent), Saudi Arabia -3.03 million manat (0.2 percent), Korea - 10.7 million manat (0.5 percent), Germany - 3.07 million manat (0.2 percent), Gambia - 846,00 manat and Italy - 283,000 manat.

From international financial institutions, the World Bank invested 90 million manat with share of 4.4 percent, the Asian Development Bank - 59.7 million manat (2.9 percent), the Islamic Development Bank - 1.7 million manat (0.1 percent), the European Bank for Reconstruction and Development - 71,900 manat.

During three quarters, the largest volume of foreign investments in the country was made in April (258.9 million manat) and August (257.9 million manat).

The official exchange rate is 0.7852 manat to $1 on Oct. 18.

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