France's investments in Azerbaijan surge to over $120 million in 2024

The Central Bank of Azerbaijan has said that France's direct foreign investments (FDI) in Azerbaijan's economy reached $121.91 million in 2024, marking a significant increase compared to previous years.

This represented a 25.11-fold growth, or an additional $117.056 million, over the previous year. French investments now account for 1.7 per cent of the total FDI flowing into Azerbaijan, Caliber.Az reports via local media.

In contrast, Azerbaijan's investments in France amounted to $19.224 million in 2024, representing a slight decrease of 2.43 per cent. Azerbaijani investments in France accounted for 1.1 per cent of the total foreign investments in the country.

Overall, Azerbaijan's total foreign direct investments in 2024 stood at $7.046 billion, reflecting a 5.83 per cent increase from the previous year. For context, in 2023, France's FDI in Azerbaijan was significantly lower at $4.854 million, while Azerbaijan's total FDI for that year was recorded at $6.658 billion.

By Naila Huseynova