Countries that invested the most in Azerbaijan in 1st quarter of 2024

16:05 - 13.06.2024

June 13, Fineko/ In the 1st quarter of 2024, foreign direct investments in the amount of $1.5 bn were raised to the Azerbaijani economy.

ABC.AZ reports with reference to the Central Bank that the total amount of investments attracted from abroad in the form of foreign direct investments reached $1.5 bn, and the volume of foreign direct investments abroad - $330.5 million. In general, the negative balance of foreign direct investments amounted to $346.7 million. The share of the oil & gas sector in the structure of foreign direct investments in the country's economy made up 87.6%.

According to the CBA data, investments raised from abroad increased by $7.05 million or 0.5% versus Q1 in 2023.

Top 3 among the countries that invested the largest amounts in our country were the UK, Türkiye and Cyprus. The investments from these countries decreased in proportion to the 1st quarter of 2023.

In the 1st quarter of 2024, compared with Q1 of 2023, investments by the UK decreased by 21.505 million manats, Türkiye - by 28.3 million manats, and Cyprus - by 9.512 million manats.

On the other hand, our country has managed to attract new investors. The Philippines, Brazil, the Republic of Korea, Algeria and Malta have already invested in our country since the first quarter of this year, although there were no investments in 2023. Among these countries, the most investing country in Azerbaijan is (more than 2.93 million manats).