In addition, direct investment in oil and gas sectors made $4 807 million while the figure was $66.1 million in other sectors.
The stock of assets grew $8 020.8 million or 56.5% from earlier this year.
The country’s total liabilities as at October 1 reached $13 797.6 million, up $244.4 million or 1.8% from earlier this year.
The reason why the growth was slight is that direct investments in Azerbaijan declined to $5 849.6 million from $597.6 million over the three quarters.
So, Azerbaijan’s net international investment position as at October 1 was + $8 410.5 million, up 13-fold on early this year.
The net international investment position is the stock of external assets minus the stock of external liabilities.
International Investment Position (mln. dollar) | ||
| 01.10.2008 | 01.01.2008 |
Assets | 22 208,1 | 14 187,3 |
Foreign direct investment | 4 873,1 | 4 676,4 |
Portfolio investment | 404,1 | 229,9 |
Other investment* | 3 330,1 | 1 901,8 |
Reserve investment | 13 600,8 | 7 379,2 |
Liabilities | 13 797,6 | 13 553,2 |
Direct investment in Azerbaijan | 5 849,6 | 6 597,6 |
Portfolio investment | 229,8 | 203,9 |
Other investment** | 7 718,2 | 6 751,7 |
Net International Investment Position |
8 410,5 |
634,1 |
• Other investments include commercials loans, deposits or cash money lent and repaid in assets and liabilities.
As shown, Azerbaijan’s foreign creditor (asset) and investor position has consolidated remarkably. This happened mostly because assets grew significantly while liabilities remained steady.
From macroeconomic perspective, Azerbaijan’s international investment position can be considered as very positive against the backdrop of the financial crisis.
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