More than 66% of investments in Azerbaijan made in non-oil sector
Baku, Azerbaijan, Jan.19
By Maksim Tsurkov - Trend:
Around 17.62 billion AZN was invested in the development of Azerbaijan's social and economic spheres in 2014, which is 1.7 percent less than in 2013, according to the Azerbaijani State Statistics Committee.
The official exchange rate is 0.7844 AZN/USD on Jan. 19.
The volume of investments in construction and installation work 75.4 percent of the total volume. Around 11.255.2 billion AZN was invested in the construction of production facilities and about 6.360.6 billion AZN was invested in non-production facilities, according to the State Committee.
Around 72.3 percent of the total volume of investments fell to domestic investments. They decreased by 5.4 percent during a year. A significant part (63.4 percent) of domestic investments fall to the state enterprises and organizations and 36.6 percent fall to the private enterprises.
Around 9.654 billion AZN (54.8 percent of the total volume of investments) were invested in fixed capital at the expense of funds of enterprises and organizations, 540.9 million AZN (3.1 percent) - bank loans, 6.452.2 billion AZN (36.6 percent) - budgetary funds, 324.6 million AZN (1.8 percent) - off-budget funds' resources, 566.9 million AZN (3.2 percent) - the population's income and 77.2 million AZN (0.5 percent) - other resources.
About 66.1 percent (11.651.6 billion AZN) of funds invested in the fixed capital were transferred to the development of the non-oil sector. Around 5.964.2 billion AZN (33.9 percent) were invested in the oil sector of the country. The investments in the country's non-oil sector decreased by 9 percent and in the oil sector increased by 16.6 percent.
About 41.4 percent of investments fall to the industry, 20.8 percent - construction, 7 percent - transport, storage facilities, public administration, 7.4 percent - recreation, entertainment and culture, 2.8 percent - education, 2.3 percent - rendering the administrative and additional services, 1.7 percent - agriculture, 0.1 percent - real estate operations, financial, insurance activity, 0.8 percent - communication and information, 4.9 percent - trade, 1.1 percent - tourist accommodation and public catering, 0.2 percent - professional, technical and scientific activity, according to the report.
Follow the author on Twitter: @MaksimTsurkov