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Azerbaijan's investments in Georgia down

Business Materials 11 June 2018 17:57 (UTC +04:00)

Baku, Azerbaijan, June 11

By Azad Hasanli - Trend:

In the first quarter of 2018, Azerbaijan invested $51 million in the economy of Georgia, which is twice less than in the fourth quarter of 2017, according to the State Statistics Service of Georgia.

Azerbaijan ranked second in terms of investing in Georgia. The Great Britain ($82.7 million) ranked the first, which China ($41.6 million) at the third place.

2017

2018

1st quarter

2nd quarter

3rd quarter

4th quarter

1st quarter

UK

80.5

31.6

62.4

75.9

82.7

Azerbaijan

96.7

127.2

154.1

104.1

51

China

7.3

10.6

18.4

15.6

41.6

The Netherlands

22.2

49.8

61.9

90.4

32.3

US

16.5

13.6

26.3

18

23.8

Luxembourg

-19.4

9.3

9.8

25.5

18.6

Panama

12

17

13.3

11.7

16.9

Other countries

200.5

88.6

254.3

156.1

12.4

Total

416.4

347.7

600.4

497.4

279.3

Azerbaijan's foreign direct investment in Georgia declined amid a general decline in investing in that country's economy.

Thus, investments in Georgia in January-March 2018 amounted to $279.3 million, decreasing by 32.9 percent. The main reason for this decline is the transfer of property rights from non-residents to residents and reduction of external liabilities by Georgian companies.

Bulk of the investments were made in the financial sector (39.6 percent), construction (24.7 percent) and manufacturing (14.4 percent) in Georgia.

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Follow the author on Twitter: @AzadHasanli

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