Investments in non-oil sector of Azerbaijani economy increases by 10 percent per year

Business Materials 19 November 2013 17:17 (UTC +04:00)

Baku, Azerbaijan, Nov. 19

By Emin Aliyev - Trend:

According to the Azerbaijani State Statistics Committee, around 13.1 billion manat was invested in the development of Azerbaijani social and economic institutions from January-October 2013, which is 16.6 percent more than in the same period of last year.

According to the State Committee, the volume of investments in construction and installation work increased by 27.8 percent and amounted to 8.7 billion manat (66.7 percent of the total volume). Around 6.695.1 billion manat was invested in the construction of production facilities and about 6.394.8 billion manat was invested in non-production facilities.

Around 74.2 percent of the total volume of investments fell to domestic investments. They increased by 9.7 percent during a year. A significant part (79.8 percent) of domestic investments falls on state enterprises and organizations and only 20.2 percent falls on private enterprises.

Around 5.276.1 billion manat (40.3 percent of the total volume of investments) were invested in fixed capital at the expense of funds of enterprises and organizations, 652.7 million manat (5 percent) - bank loans, 6.229.1 billion manat (47.6 percent) - budgetary funds, 433.1 million manat (3.3 percent) - off-budget funds' resources, 372.1 million manat (2.8 percent) - the population's income and 126.8 million manat (1 percent) - other resources.

About 69.9 percent (9.152.8 billion manat) of funds invested in the fixed capital were transferred to the development of the non-oil sector. Around 3.937.1 billion manat (30.1 percent) were invested in the oil sector of the country. The investments in the country's non-oil sector increased by 10 percent and by 35.8 percent in the oil sector.

According to the report, about 44.5 percent of investments fall on industry, 20.8 percent - on transport and storage facilities, 3.6 percent - agriculture, 7.7 percent - real estate operations, 6.5 percent- public administration, 2.8 percent - recreation, entertainment and culture, 3 percent- construction, 1.2 percent - communication and information, 4.4 percent - education, 1.1 percent - rendering the administrative and additional services, 0.8 percent - trade, 0.5 percent - tourist accommodation and public catering, 0.1 percent - financial, insurance, professional, technical and scientific activity.

The official exchange rate is 0.7844 AZN/USD on Nov. 19.