Foreign investments in Azerbaijan's economy up 1.5 times

Business Materials 19 March 2013 14:45 (UTC +04:00)

Azerbaijan, Baku, 19 March / Trend I.Khalilova /

In January-February 2013, the total amount of foreign investments in Azerbaijan's economy amounted to 589.8 million manat, which is 1.48 times more compared with the same period last year, according to the report of the State Statistics Committee.

During January- February, 91.1 per cent (537.5 million manat) of investments in Azerbaijan's economy made by foreign countries and international organisations fell to investors from the UK, USA, Japan, Norway, Turkey and the Czech Republic. The Czech Republic replaced France which left the list.

As previously, the UK continues to maintain a leading position in the list of foreign investors in Azerbaijan. Its share in the total foreign investment was 55.5 per cent, while investments totalled 327.07 million manat.

U.S. investments totalled 74.997 million manat (with a market share of 12.7 per cent), Japanese - 59.74 million (10.1 per cent), Norwegian - 29.36 million (five per cent), Turkish - 23.19 million manat (3.9 per cent), Czech - 23.13 million manat (3.9 per cent), French - 9.26 million manat (1.6 per cent) and Netherlands - 0.99 million manat (0.2 per cent).

Among international financial institutions, the largest volume of investments was allocated by the World Bank - 25.072 million manat with a share of 4.3 per cent. The Asian Development Bank directed 15.97 million manat (2.7 per cent) to projects in Azerbaijan in January-February and the Islamic Development Bank - 92,500 manat.

In February, the volume of foreign investments in the country rose by 69.4 per cent compared to January and by 2.4 times in comparison with February 2012.

The official exchange rate on March 19 is 0.7848 AZN / USD.