Foreign direct investments in Azerbaijan notably grow

Finance Materials 21 December 2020 12:09 (UTC +04:00)
Foreign direct investments in Azerbaijan notably grow

BAKU, Azerbaijan, Dec. 21

By Zeyni Jafarov – Trend:

The total value of the direct foreign investments in Azerbaijan made up $3.4 billion in the third quarter of 2020, thus showing a growth of 27 percent compared to the same period of 2019, Trend reports referring to the country's Central Bank (CBA).

According to the CBA, the oil and gas sector’s share in the structure of direct investments in the country's economy amounted to 85.3 percent.

From January through September 2020, Azerbaijan’s net financial liabilities for the oil-gas sector decreased by $509.7 million which was formed by the difference between the attracted investments in the amount of $2.9 billion and the repatriation of capital worth $3.4 billion.

The total amount of attracted direct investments in the non-oil sector made up $497.1 million, indicating an annualized growth of 18 percent.

During the first nine months of this year, the overall deficit of Azerbaijan's balance of payments amounted to $1.8 billion.


Follow the author on Twitter: @jafarov_zeyni