Azerbaijan sees 9.4% increase in fixed capital investments in first half of 2024

In Azerbaijan, the volume of investments in fixed capital from January to June 2024 totalled AZN 7.98 billion ($4.6 billion), 9.4% more than last year.

In the first half of the year, investments in the oil and gas sector increased by 4.5%, while investments in the non-oil and gas sector grew by 12.6%, Caliber.Az reports, citing the State Statistics Committee.

Of the total volume of used investments, AZN 4.37 billion ($2.5 billion) (54.8%) went to the production sectors, AZN 2.75 billion ($1.6 billion) (34.4%) to the service sectors, and AZN 864.3 million ($508 million) (10.8%) to residential construction.

According to the statistics, AZN 6.45 billion ($3.7 billion) (80.8%) of investments directed to fixed capital were domestic investments.

Additionally, AZN 5.51 billion ($3.2 billion) (69%) of the total investments were directed to construction and installation works during the reporting period.