The volume of investments in Azerbaijan’s oil and gas sector decreased by 6.2 percent in January-March 2021, the State Statistics Committee has reported.
Investments in the non-oil and gas sector also declined by 32.2 percent in the reported period.
Some AZN 2.3 billion ($1.3bn) was directed to fixed capital in the first quarter of the year, which is by 19.4 percent less than in the corresponding period of 2020. Of this, AZN 1.7 billion ($1bn) or 74.5 percent was spent on production areas, AZN 398.2 million ($234.2M) or 16.8 percent on service areas and AZN 205.2 million ($120.7M) or 8.7 percent on the construction of residential buildings.
Furthermore, AZN 1.2 billion ($724.6M) or 52.1 percent of fixed assets were internal funds.
Some AZN 1.7 billion ($1bn) or 74.8 percent of the funds directed to the fixed capital was spent for construction and installation works.
Moreover, in the total value of fixed capital investments, funds of enterprises and organizations accounted for 67.5 percent, budget funds for 10.6 percent, bank credits for 8.9 percent, personal funds for 8.1 percent and other funds for 4.9 percent.
It should be noted that investments in the country’s oil and gas sector increased by 0.3 percent in 2020. Meanwhile, investments in the non-oil and gas sector in the country decreased by 12.3 percent.
By Ayya Lmahamad