Azerbaijan attracts $6.7 billion in direct foreign investment in 2023

The Director of the Statistics Department at the Central Bank of Azerbaijan (CBA), Samir Nasirov, has said that foreign direct investments in the economy of Azerbaijan amounted to 6.7 billion dollars in 2023.

According to him, the top five countries that made direct investments in Azerbaijan’s economy include Great Britain - 1.9 billion dollars, Türkiye - 1.3 billion dollars, Cyprus - 792 million dollars, Russia - 617 million dollars, and Iran - 396 million dollars, Trend informs.

Meanwhile, the amount of direct investments made by Azerbaijan in foreign countries amounted to $3.1 billion in 2023, Nasirov said.

"The top three countries in which Azerbaijan made direct investments include Türkiye - $1.8 billion, the US - $311 million, and the UK - $157 million," he added.

Referring to the volume of money transfers to Azerbaijan, Nasirov said that "the five leading countries in terms of remittances to Azerbaijan include Russia - 1,047 billion US dollars, Turkey - 164 million dollars, USA - 73.8 million dollars, Georgia - 37.5 million dollars, Great Britain - 33.2 million dollars".

He also said that in 2023, the current account surplus of Azerbaijan amounted to 8.3 billion dollars, or 11.5% of the gross domestic product (GDP).

According to him, this is 64.7%, or 2.8 times, less than 2022.