Georgia discloses volume of direct Azerbaijani investments in 1Q2024

Azerbaijan's foreign direct investments (FDI) in Georgia's economy amounted to $12.7 million during the first quarter of 2024, Report informs, citing the National Statistics Office of Georgia.

In the first quarter of 2023, $7.5 million was repatriated from Georgia to Azerbaijan.

Azerbaijan’s contribution to Georgia’s foreign direct investments (FDI) in the first quarter of 2024 constituted 6% of the total.

The overall FDI in Georgia for the period of January to March 2024 was $201.4 million, marking a decrease of 64.4% compared to the same timeframe in the previous year.

Türkiye led the FDI into Georgia with $42.4 million, accounting for 21% of the total investments. The Czech Republic followed with$41.5 million (representing 20.6%), and the United States with $33.7 million, which is 16.7% of the total FDI.

The energy sector in Georgia received most of the investments, with $78.7 million or 39.1% of the total FDI, an increase of 21.5% from the first quarter of 2023.

The trade sector was the second-largest recipient with $39.5 million or 19.6% of the total, though this was 56.4% less than the previous year.

Meanwhile, the transport sector ranked third with investments amounting to $38.8 million or 19.3% of the total, a reduction of 10.4% from the same period in 2023.

In 2023, FDI in Georgia decreased by 24%, totaling $1.6 billion, with Azerbaijan contributing $53.6 million to this figure.