Baku, Azerbaijan, April 8
By Anvar Mammadov – Trend:
The total volume of foreign capital in the form of direct investments in the Azerbaijani economy in 2017 amounted to $5.7 billion, where the share of the country’s oil and gas sector was 86 percent, said the balance of payments of the Central Bank of Azerbaijan (CBA).
Compared to 2016, the volume of direct investments in Azerbaijan’s economy decreased by 21.9 percent.
These investments were used to finance major oil and gas operations in Azerbaijan, mainly carried out as part of projects by BP Exploration (Shah Deniz) Ltd and Azerbaijan International Operating Company (AIOC) on the Azeri-Chirag-Gunashli block of fields.
According to the estimates of the CBA, the volume of direct investments attracted to Azerbaijan’s non-oil sector amounted to almost $813.1 million, or 14 percent of the total volume of direct investments attracted to the country during the reporting period. This is almost 2.1 times less than the volume of direct investments attracted in 2016, which was $1.71 billion.