Azernews.Az

By Nigar Orujova

Investments in Azerbaijan's oil sector exceeded 2.25 billion manats (over $2.86 billion) in the first half of 2013, compared to 1.7 billion manats in January-June 2012, which is an increase by 31.3 percent, the State Statistics Committee said on July 20.

The volume of investments in Azerbaijan's industries exceeded 3.34 billion manats in the first six months of 2013, which is 44.6 percent more than in the same period of 2012.

Around 2.26 billion manats of the total amount of investments made in the industrial sector fell to the extractive industry, which is 31.6 percent over the same period of 2012.

Investments in production, distribution and supply of electricity, gas and heat amounted to 121 million manats in January-June, 16.7 percent less than in the first half of 2012.

Non-oil sector investments rise

Nearly 7.362 billion manats were invested from all sources into the development of the economy and the social sphere in Azerbaijan in the first six months of 2013, which is 22.9 percent more than in the same period of 2012, the statistics committee reported.

According to the Committee, investments in construction and installation work increased by 39.6 percent and amounted to over 4.777 billion manats (64.9 percent of the total volume).

More than 3.849 billion manats were invested in the construction of production facilities and about 3.512 billion manats in non-production facilities.

Around 74.9 percent of the total volume of the placed funds fell to domestic investments, an increase by 18.1 percent.

Around 324.2 million manats -- 44 percent of the total volume of investments -- were invested in fixed capital at the expense of funds of enterprises and organizations. 4.7 percent of the funds were invested in bank loans, 45.1 percent in budgetary funds, 3.5 percent in off-budget funds' resources, 2.4 percent in the population's income, and 0.3 percent in other resources.

About 69.4 percent of the funds invested in fixed capital were channeled into the development of the non-oil economy. 30.6 percent was invested in the oil sector of the country.

The investments in the country's non-oil sector increased by 31.3 percent and by 19.5 percent in the oil sector.

According to the statistics, about 45.4 percent of the investments fall to the industrial areas, while 18.2 percent - to the transport and storage facilities, 4.2 percent agriculture, and 9 percent real estate operations (9 percent of them in housing construction). 7.4 percent of the investments went to public administration, while 3.2 percent healthcare, 3.2 percent recreation, entertainment and culture, 3 percent education, and 2.7 percent construction. Less than one percent each was invested in trade, tourist accommodation and public catering, as well as financial, insurance, professional, technical and scientific activity, etc.

The official exchange rate as of July 22 is 0.7844 AZN/USD.