BAKU, Azerbaijan, November 19. Investment in fixed capital amounted to 14.3 billion manat ($8.4 billion) from January through October 2024, which is 4.4 percent less than the figure for the corresponding period of 2023.
Data obtained by Trend from the country's Statistical Committee indicates that the volume of investments in the oil and gas sector decreased by 9.1 percent, while in non-oil sectors it decreased by 2.0 percent.
Meanwhile, 50.8 percent of investments in fixed capital (over 73 billion manat ($42.9 billion)) went to the sphere of production, 35.9 percent (51.6 billion manat ($30.3 billion)) to the sphere of services, and 13.3 percent (19.2 billion manat ($11.2 billion)) to the construction of residential houses.
In terms of total investment, 57.6 percent was allocated by the state, while 42.4 percent came from investors in the non-state sector. Additionally, 72.3 percent of the investments were directed towards construction and installation activities.
About 83 percent of investments directed to fixed capital were domestic funds.
The breakdown of total investment in fixed assets reveals a diversified allocation across sectors from January through October 2024: industry led with 37.6 percent of total investments, followed by construction at 25.2 percent and transport and warehousing at 24.8 percent. The information and communication sector attracted 3.2 percent, while tourism-related investments in accommodation and catering accounted for 1.9 percent.
The finance and insurance sectors received 1.5 percent of total investment, with agriculture, forestry, and fisheries securing 1.4 percent. Both public administration and defense and education saw 0.8 percent of the total, while trade and vehicle repair garnered 0.7 percent. The provision of administrative and support services, professional, scientific, and technical activities, as well as healthcare and social services, each received 0.5 percent. Investments in other service areas totaled 0.4 percent, with recreation, entertainment, and the arts capturing the smallest share at 0.2 percent.
