Investments in Azerbaijan's economy grow by nearly 2%

Approximately 11.217 billion manats (just under $6.6 billion) were invested in fixed capital in Azerbaijan during the first eight months of 2024, marking a 1.7% growth year-on-year, Report informs, citing the country’s State Statistical Committee.

Over the past year, investments in the oil and gas sector dropped by 2.4%, while in the non-oil and gas sector rose by 3.9%.

In the first eight months of 2024, 5.587 billion manats (over $3.286 billion), or 49.8%, were injected in production, 4.287 billion manats (just under $2.522 billion), or 38.2%, in services, and 1.342 billion manats (over $789.7 million), or 12%, in housing construction.

Domestic funds constituted 83.1% or approximately 9.316 billion manats (almost $5.48 billion) of the investments directed to fixed capital.