Oil and gas sector account for over 86% of direct investments in Azerbaijan

Oil&Gas Materials 10 June 2015 19:30 (UTC +04:00)

Baku, Azerbaijan, June 10

By Azad Hasanli - Trend:

The total volume of the foreign investments in Azerbaijan's economy in Q1 of 2015 stood at $1.8 billion, said the balance of payments posted on the website of Azerbaijani Central Bank.

The oil and gas sector accounts for 86.1 percent of this volume.

The volume of direct investments in Azerbaijan's economy has dropped by 5.26 percent compared to the Q1 of 2014. This figure was equal to $1.9 billion in January-March 2014.

These investments were used to finance the major oil and gas work on Azerbaijan's territory.

The volume of direct investments attracted to the non-oil sector totaled $256.1 million, or 14.2 percent of the total volume of direct investments attracted in Q1 of 2015.

It is by 1.9 percent less than in the same period of 2014. The volume of foreign investments in the country's non-oil sector was $261.1 million in January-March 2014.

Edited by CN

Follow the author on Twitter: @AzadHasanli