AZƏRBAYCANDA KORONAVIRUSLA BAĞLI XƏBƏRLƏR

Industry accounts for over half of capital investments made in Azerbaijan

Industry accounts for over half of capital investments made in Azerbaijan

Economy
10 August 2020, 10:28 120
Around 3.9 billion manat ($2.2 billion) was allocated from all financial sources to the fixed capital from January through April 2020 to develop the socio-economic sphere of Azerbaijan, Trend reports citing the State Statistical Committee (SCC) of Azerbaijan.
Over the reporting period, 2.6 billion manat ($1.5 billion), or 67.2 percent of the used funds was spent on production facilities, 875.2 million manat ($514.8 million) or 22.4 percent – on service areas, and 406 million manat ($238.8 million) or 10.4 percent - on the construction of houses.
Some 2.34 million manat ($1.37 million) or 59.9 percent of the funds allocated to fixed assets accounted for internal funds, 2.38 million manat ($1.4 million) or 61.1 percent of the funds allocated to fixed assets were spent directly on construction and installation works.
Meanwhile, about 69 percent of all investments in the amount of 2.02 billion manat ($1.19 billion) was spent on production of goods, 21.1 percent or 619.7 million manat ($364.53 million) – on services, and 9.9 percent or 288.7 million manat ($169.82 million) – on the construction of residential buildings.
The funds of enterprises and organizations made up 2.4 billion manat ($1.4 billion), budget funds – 821.2 million manat ($483.06 million), private funds – 257.5 million ($151.47 million), bank loans – 220.6 million manat ($129.76 million), extrabudgetary state funds – 95.9 million manat ($56.41 million), and other funds – 87.3 million manat ($51.35).
From January through April 2020, in the total cost of fixed capital investments, 53.7 percent accounted for industry, 21.8 percent - for construction, 12.6 percent - for transport and storage facilities, 3.3 percent - for professional, scientific and technical activities, 2.1 percent – for agriculture, forestry and fishing, 1.7 percent - for public administration, defense and social security.
One percent of the investments accounted for information and communications, 0.4 percent - for tourist accommodation and vehicle repairs, as well as provision of medical, social, administrative and support services to the population each, and 0.1 percent – for recreation, entertainment and art, financial and insurance activities each.
During the reporting period, 1.8 billion manat ($1.06 billion) was invested in the oil sector. Some 2.1 billion manat ($1.24 billion) were invested in the non-oil sector development, of which 289.7 million manat or $170.41 million (7.4 percent of the total investment) was used in the industrial sector.