Investments volume increases

By: Nigar Orujova

Around 893.8 million manats was invested in the Azerbaijani oil sector in January-February, which is 15.3 percent more than in the same period last year, the Azerbaijani State Statistics Committee’s reported.

The total volume of capital investments in the Azerbaijani industrial sector amounted to 988.3 million manats in first two months, which is 11.5 percent more than in the same period in 2014, the report said.

Around 893.1 million manats of this amount was invested in the mining industry during this period. This is 16.4 percent more than in the same period in 2014.

Investments in production, distribution and supply of electricity, gas and heat during this period amounted to 14.5 million manats, which is 57.7 percent less than in the same period last year.

Meanwhile, around 1.697 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in this period, the committee reported. This is 0.5 percent more than in the same period in 2014.

The investments in construction and installation work hit 73.5 percent of the total volume of investments.

Around 1.282 billion manat were invested in the construction of production facilities, while 415.2 million manat were in non-production facilities.

Around 52.2 percent of the total volume of investments accounted for domestic investments. Most domestic investments (64.9 percent) accounted for state-owned enterprises and organizations, but 35.1 percent went to private enterprises.

Around 1.146 billion manat (67.5 percent of a total volume of investments) of the enterprises’ and organizations’ funds, 394.9 million manat (23.3 percent) – budgetary funds, 63.1 million manat (3.7 percent) – bank loans, 59.5 million manat (3.5 percent) – off-budget funds, 5.3 million manat (0.3 percent) – personal funds of the population and 28.2 million manat (1.7 percent) – other funds were invested in the fixed assets.

Around 47.3 percent (803.7 million manat) invested in fixed assets was directed to the development of the non-oil sector. Around 893.8 million manat (52.7 percent) was invested in the oil industry. Investments in the oil sector increased by 15.3 percent, but declined by 23.4 percent in the non-oil sector during the year.

Around 58.2 percent of investments accounted for industry, 14.7 percent – construction, 7.2 percent – transport and warehousing, 6.4 percent – recreation, entertainment, art, 2.6 percent – agriculture, fishery, forestry, 2.3 percent – state management, 2 percent – communication and information, 1.6 percent – accommodation of tourists and catering sphere, 1.4 percent – education, 0.6 percent – real estate transactions, 0.8 percent – rendering the administrative and additional services, the report says.

Foreign investments increased by almost third

The total volume of foreign investments made in Azerbaijan’s fixed capital amounted to 811 million manat in January-February, which is 31.1 percent more than in the same period in 2014, the report said.

Some 94.2 percent (763.9 million manat) of investments made in fixed capital by foreign countries and international organizations in January-February accounted investors from Great Britain, Norway, Turkey, US, France, Iran, Russia and Japan, the report said.

The UK continues to maintain its leading position. Its share in the total foreign investment in Azerbaijan amounted to 37.5 percent, and the amount of the investments – 304.57 million manat.

During this period, Norway’s investments in Azerbaijan’s economy amounted to 137.44 million manat (with a specific weight of 16.9 percent), Turkey’s investments – 96.48 million manat (11.9 percent), Russian and Iranian investments – 57.34 million manat (7.1 percent), US investments – 45.23 million manat (5.6 percent), France’s investments – 28.41 million manat (3.5 percent), Japan’s investments – 37.06 million manat (4.6 percent).

The World Bank allocated the largest volume of investment from international financial institutions at 31.75 million manat with specific weight of 3.9 percent.

The Asian Development Bank allocated 8.75 million manat (1.1 percent) and EBRD – 143,900 manat.

SOURCE: Azer News