Investments in Azerbaijan's economy up by 17%

Kanan Sadigov
Author

Investment in fixed capital in Azerbaijan amounted to 14,258 million manats ($8.38 billion) in January-October 2023, marking a 17.1% growth in comparison to a year earlier, Report informs, referring to the State Statistical Committee.

Over the past year, investments in the oil-and-gas sector increased by 20.4%, and in the non-oil-and-gas sector surged by 15.4%.

During the reporting period, 8.414 billion manats ($4.94 billion), or 59%, were made in production, 5,108 million manats ($3 billion), or 35.8%, in services, 735.4 million manats ($432.24 million), or 5.2%, in housing construction.

Domestic funds constituted 11,031 million manats ($6.48 billion) (77.4%) of the funds directed to fixed capital, and construction and installation work amounted to 10,444 million manats ($6.14 billion) (73.3%).

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