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Volume of lending for Azerbaijani industrial and manufacturing sector increases

Finance Materials 18 January 2021 17:45 (UTC +04:00)
Volume of lending for Azerbaijani industrial and manufacturing sector increases

BAKU, Azerbaijan, Jan. 18

By Zeyni Jafarov - Trend:

The volume of lending for the industrial and manufacturing sector in Azerbaijan as of early December 2020 amounted to 1.4 billion manat ($823 million), Trend reports citing statistics from the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is by 451.2 million manat ($265.4 million) or 48.5 percent more compared to the same period of 2019. Since the beginning of 2020, this figure has increased by almost 21.4 percent or by 243.6 million manat ($143.3 million).

Some 196.6 million manat ($115.6 million) or 14.2 percent of loans for the industrial and manufacturing sector accounted for short-term loans. Some 136.2 million manat ($80.1 million) of that volume were issued in national currency while 60.4 million in foreign currency.

The remaining 1.2 billion manat ($705 million) or 85.3 percent accounted for long-term loans and this figure is by 1.75 times more compared to the figure in early December 2019. The loans worth 638.1 million manat ($375.3 million) were issued in national currency while 540.4 million manat ($317.9 million) accounted for the share of foreign currency.

In total, the operations carried out in foreign currency amounted to 43.5 percent (600.8 million manat that’s $353.4 million) of the total amount of loans for the industrial and manufacturing sector. The operations carried out in the national currency amounted to 774.3 million manat ($455.5 million) or 56 percent.

The share of lending for this sector in lending for the real sector amounted to 9.4 percent, which is by 3.2 percentage points more than in the same period of 2019.

In general, the volume of lending for the real sector amounted to 14.7 billion manat ($8.6 billion) by December 1, 2020, which shows an annualized decline of 435.1 million manat ($255.9 million) or 2.9 percent.

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