Investments in Azerbaijan's economy (Jan.-July 2012)

About 7.126.0 billion manat was invested from all financial sources to develop the economic and social spheres in Azerbaijan in Jan.-July 2012, or 27.2 percent more than in Jan.-July 2011.

In particular, about 1.201.1 billion manat were invested in the Azerbaijani economy in July 2012, or 18.3 percent more than investments in fixed capital in July 2011.

The main sources of investments in Jan.-July 2012 are: funds of enterprises and organizations - 3.120.7 billion manat (increasing by 11.8 percent compared to Jan. 2011); budgetary funds - 3.171.5 billion manat (increasing by 65.2 percent), off-budgetary funds -304.0 million manat (increasing by 71.5 percent), bank loans - 321.1 million manat (decreasing by 39.6 percent), funds of population - 181.8 million manat (decreasing by 0.3 percent).

The increase in investments in Jan.-July 2012 is connected with the increased investment activity of all sources of funding, except the bank loans and population's personal funds. Their share in the total amount of investments hit 4.6 and 2.5 percent.

The increase in the investments is mainly connected with an increase in the amount of state investments allocated from the state budget to the economy. Public investments are spent within the Azerbaijani state investment program. At present, large infrastructure projects funded by the state are being implemented in all regions of the country. These projects include laying of trunk roads, water and sewer projects, gasification, construction of transmission lines, rural roads.

The amount of investments in construction work totaled 4.245.9 billion manat, or 59.6 percent of the total amount of investments. The investments worth 3.264.3 billion manat were used for the construction of production facilities, while 3.861.7 billion manat - non-production facilities.

As a result of the conducted construction work, a number of industrial and social facilities were put into operation. Around 922,000 square meters of residential buildings, public schools for 360 students, pre-school facilities, a hospital and health centers, as well as a plant of metal structures in Baku, "Baku Crystal Hall" complex, the Heydar Aliyev Center, "Qafqaz Baku City Hotel and Rezidences" hotels and "JW Marriott Absheron", a sports complex in Zira settlement, a heavy engineering plant and a processing plant in Sumgait industrial park and so on were put into operation within seven months.

Around 3.046.7 of 5.933.9 billion manat envisaged from the state budget were used in January and July to continue construction work on a number of facilities this year.

According to the data provided by the State Statistics Committee, private enterprises and organizations invested 2.780.8 billion manat (39.0 percent of total investments) in main capital and public enterprises and organizations - 4.345.2 billion manat (61.0 percent).

In January-July direct investments in non-oil sector exceeded the investments in the oil sector. Around 72.4 percent (5.156.5 billion manat) of investments made in fixed capital were directed to the development of the country's non-oil sector, 27.6 percent (1.969.5 billion manat) - oil sector.

The total investments in the industry totaled 2.728.8 billion manat with an increase of 13.1 percent. About 294.6 mln manat was invested in the processing industry (decreased by 41.4 percent). During the reported period, the investments in the extractive sector hit 1.975.2 billion manat, which is 27.1 percent more than investments in Jan.-July 2011. Totally, 38.3 percent of investments fell to the industrial sector.

Of the total volume of investments, 78.8 percent accounted for domestic investments. Most (73.7 percent) domestic investments fall to the state-owned enterprises and organizations and only 26.3 percent - private enterprises.

Investment indices for Jan.-July 2012:

(Source: State Statistics Committee and calculations by Trend)

Amount in mln manat

Specific weight, %

Investments in total

7126,0

100,0

Foreign investments

1513,8

21,2

Internal investments

5612,2

78,8

The total amount of foreign investments in Azerbaijan's economy hit 1.513.8 billion manat in Jan.-July 2012, or 5.4 percent more compared to the same of period of last year.

The increased amount of foreign investments into the country once again proves that foreign investors are interested in Azerbaijan's economy. Their investments are protected at the appropriate level.

In Jan.-July 2012, 92.4 percent (1.399.0 billion manat) of investments made in the Azerbaijani economy by foreign countries and the international organizations accounted for investors from Great Britain, the U.S., Japan, Norway, Turkey, the Czech Republic and France.

Great Britain continues to keep leading positions on the amount of investments in Azerbaijan. The country's share in the total amount of the foreign investments hit 47.9 percent. British investments hit 724.3 million manat.

Countries

Jan.-July 2012, thousand manat

Specific weight, %

Total international investments

1513840,4

100,0

Including:

Great Britain

724341,0

47,9

USA

256031,3

16,9

Japan

170029,2

11,2

Turkey

74483,6

4,9

Norway

94315,7

6,2

Czech Republic

50294,0

3,3

Germany

1752,7

0,1

Saudi Arabia

3027,4

0,2

Korea

3720,3

0,2

Gambia

846,0

0,1

France

29485,3

2,0

Italy

228,0

0,0

The biggest amount of investments was allocated by WB among the international financial institutions to the amount of 63.8 million manat with a specific weight of 4.2 percent. WB projects cover different spheres of the country's economic life.

International financial organizations

Jan.-July 2012, thousand manat

Special weight, %

World bank

63875,7

4,2

Asian Development Bank

40296,9

2,7

Islamic Development Bank

1041,4

0,1

EBRD

71,9

0,0

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