Azerbaijan's foreign direct investments in Ukraine exceed $6 million in 2024

Azerbaijan’s Foreign Direct Investments (FDI) in Ukraine reached $6.021 million in 2024, according to a report by the Central Bank of Azerbaijan (CBA). 

While this figure represents a decline compared to the record-high investments in 2023, it marks a significant recovery from the near-zero levels observed in 2022, Caliber.Az reports via local media.

The 2024 investment figure, although lower than the $23.644 million recorded in 2023, still reflects a 74.5% increase from 2022, when investments fell sharply to just $715,000 due to the ongoing conflict in Ukraine. The sharp rebound in 2023, when Azerbaijani investments surged by 33.08 times compared to the previous year, highlights the resilience of bilateral economic ties.

In 2021, Azerbaijan's investments in Ukraine amounted to $17.259 million, demonstrating a 2.07-fold increase from 2020. The year 2020 saw $8.567 million in investments, an increase of 2.43 times compared to 2019, despite the global challenges posed by the COVID-19 pandemic.

As for Ukrainian investments in Azerbaijan, they stood at $5.957 million in 2020, a dramatic increase of 20.76 times compared to 2019. However, no data on Ukrainian investments in Azerbaijan from 2021 to 2024 has been provided by the CBA.

By Khagan Isayev