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Azerbaijan names economy sector with biggest share of credit investments

Finance Materials 3 June 2020 20:24 (UTC +04:00)
Azerbaijan names economy sector with biggest share of credit investments

BAKU, Azerbaijan, June 3

By Eldar Janashvili – Trend:

The biggest share of credit investments in Azerbaijan accounted for the household sector, amounting to 44.3 percent as of May 1, 2020, Trend reports referring to the statistics bulletin of the Central Bank of Azerbaijan (CBA).

The volume of loans in the country’s household sector increased by 21.5 percent or by 1.2 billion manat ($705.9 million) on May 1, 2020, compared to May 1, 2019, amounting to 6.7 billion manat ($3.9 billion).

The volume of loans in the field of trade and services increased by 7.9 percent or by 180.7 million manat ($106.3 million) in late April 2020 compared to late April 2019, amounting to 2.5 billion manat ($1.4 billion), a share of the total volume of credit investments in this sector made up 16.2 percent.

The volume of loans in the field of transport and communications amounted to 1.1 billion manat ($647 million), which is equivalent to 7.3 percent of total volume of loans in the real sector. This indicator decreased by 13.4 percent or by 170.4 million manat ($100.2 million) for the year.

An increase in lending by 1.5 times was observed in the field of industry and production.

The distribution of the loan portfolio by sectors of economy:

Sectors of Economy

Amount of loans for May 2020

Amount of loans for May 2019

The share for May 2020, in percent

The share for May 2019, in percent

Trade and services

2.4 billion manat ($1.4 billion)

2.2 billion manat ($1.3 billion)

16.2

17.5

Energy, chemistry and natural resources

623.5 million manat ($366.8 million)

447.1 million manat ($263 million)

4.1

3.4

Agriculture and Processing

583.3 million manat ($343.1 million)

479.5 million manat ($282.05 million)

3.9

3.7

Construction and property

458 million manat ($269 million)

357.4 million manat ($210.2 million)

3

2.7

Industry and manufacturing sector

1.1 billion manat ($647 million)

763.7 million manat ($449.2 million)

7.5

5.9

Transport and communication

1.1 billion manat ($647 million)

1.3 billion manat ($764 million)

7.3

9.8

Household

6.7 billion manat ($3.9 billion)

5.5 billion manat ($3.2 billion)

44.3

42.4

(1 USD = 1.7 AZN on June 3)

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Follow the author on Twitter: @eldarjanashvili

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