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31
March
2023

Foreign direct investment in Azerbaijan up 31% to $6.276 bln in 2022

BAKU. March 31 (Interfax) – Foreign direct investment in Azerbaijan rose 30.9% to $6.276 billion in 2022 from $4.796 billion in 2021, the Azerbaijani Central Bank said.

According to the balance of payments, the oil and gas sector accounted for 71% of FDI compared with 83.5% a year previously, with investment in the non-oil sector totaling $1.8 billion, up 2.3-fold from 2021 and amounting to 29% of total FDI, up from 16.5% a year previously.

The top five countries by FDI in Azerbaijan in 2022 were the UK with $1.76 billion, up 10.9%; Turkey – $1.187 billion, up 60.3%; Cyprus – $826.715 million, up 2.60-fold; Russia – $517.96 million up 10.2-fold; and Iran – $359.871 million, up 34%.

They are followed by Japan with $279.406 million, United States with $278.34 million, Switzerland with $213.39 million, Norway with $155.966 million and Hungary with $110.767 million.

FDI in Azerbaijan rose 5.9% to $4.795 billion in 2021.