Azerbaijan boosts investments in industry sector

By Azernews

By Ayya Lmahamad

Capital investments in Azerbaijan’s industry sector increased by 8.7 percent in the first half of 2020, local media reported with the reference to State Statistics Committee.

According to the statement, during the reporting period, capital investments in industry sector increased to AZN 3.2 billion ($1.8bn), compared to the same period last year.

Out of all capital investments in the economy, 54.3 percent were directed to industry sphere.

Moreover, capital investments in the extractive industry amounted to AZN 2.6 billion ($1.5bn), with a growth of 17.2 percent. Investments in processing industry amounted to AZN 305.6 million (179.7M), with decrease by 8.8 percent.

Furthermore, investments in production of electricity, gas and its distribution amounted to AZN 130 million ($76.4M), with a decrease by 32.1 percent.

It should be noted that investments in Azerbaijan’s industry sector in 2019 amounted to AZN 8.6 billion ($5.1bn).

Earlier, it was reported that in January-June current year, the volume of investments in oil and gas sector increased by 17.5 percent, compared to the same period last year, amounting to AZN 2.7 billion ($1.6bn).