Baku, Azerbaijan, Dec. 19
By Maksim Tsurkov – Trend:
The total volume of foreign capital in the form of direct investments in Azerbaijan’s economy during the first three quarters of 2016 amounted to $5.4 billion, and the specific weight of the country’s oil and gas sector stood at 79.2 percent, according to the balance of payments published on the website of the Central Bank of Azerbaijan (CBA).
Compared to January-September 2015, the volume of direct investments in Azerbaijan’s economy declined by 5.3 percent. For comparison, in January-September 2015, the figure was $5.7 billion.
These investments were used to finance major oil and gas exploration work in Azerbaijan, which was mainly carried out within the projects by BP Exploration Caspian Sea Limited (Shah Deniz project) and Azerbaijan International Operating Company (AIOC) at the Azeri-Chirag-Guneshli block of oil and gas fields.
The volume of direct investments attracted to the non-oil sector of Azerbaijan amounted to $1.13 billion, or 24.75 percent of the total amount of direct investments attracted to the country for the first three quarters of 2016, which is 66.9 percent more than in the same period last year, according to the estimates of the CBA.
In January-September 2015, the volume of foreign investments in Azerbaijan’s non-oil sector amounted to $678 million.
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