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Azerbaijani industrial sector's lending notably grows

Finance Materials 24 February 2021 16:46
Azerbaijani industrial sector's lending notably grows

BAKU, Azerbaijan, Feb. 24

By Zeyni Jafarov - Trend:

The volume of lending for the industrial and manufacturing sector in Azerbaijan in 2020 amounted to 1.25 billion manat ($740 million), Trend reports on Feb.24 citing statistics from the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is by 377.5 million manat ($222 million) or 43.3 percent more compared to 2019.

Some 198.1 million manat ($116.5 million) or 15.8 percent of loans for the industrial and manufacturing sector accounted for short-term loans. Some 142.2 million manat ($83.6 million) of that volume were issued in national currency while 55.9 million manat ($32.8 million) in foreign currency.

The remaining 1.04 billion manat ($610 million) or 83.4 percent accounted for long-term loans and this figure is by 1.5 times more compared to the figure in 2019. The loans worth 515.4 million manat ($303.1 million) were issued in national currency while 527.8 million manat ($310.4 million) accounted for the share of foreign currency.

In total, the operations carried out in foreign currency last year amounted to 46.7 percent (583.7 million manat that’s $343.3 million) of the total amount of loans for the industrial and manufacturing sector. The operations carried out in the national currency made up 657.6 million manat ($386.8 million) or 52.6 percent.

The share of lending for this sector in lending for the real sector amounted to 8.6 percent, which is by 2.9 percentage points more than in 2019.

The total volume of lending for the real sector equaled 14.5 billion manat ($8.5 billion) in 2020, which shows annual decline of 767.8 million manat ($451.6 million) or 5 percent.

(1 USD = 1.7 AZN on Feb. 24)

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