Azerbaijan sees decrease in FDI
The volume of Foreign Direct Investments (FDI) made in Azerbaijan’s economy in three quarters of 2015 totaled $5.7 billion of which 88.2 percent accounted for the oil and gas sector, the country’s Central Bank reported.
FDI in the country’s economy have dropped by 1.72 percent compared to January-September 2014 ($5.8 billion).
These investments were used to finance the major oil and gas work on Azerbaijan’s territory primarily carried out as part of the projects of BP Exploration (Shah Deniz) and Azerbaijan International Operating Company at Azeri-Chirag-Guneshli block of oil and gas fields.
FDI attracted in the non-oil sector during the reporting period totaled $678 million or 11.8 percent of the total volume of investments made in the country’s economy in three quarters, according to the Central Bank.
This figure is 20.7 percent less than in the same period in 2014. The volume of foreign investments in Azerbaijan’s non-oil sector stood at $855 million in January-September 2014.
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