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Azerbaijan posts 9% rise in foreign capital inflow

15 December 2008 14:26 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. According to Azerbaijanâ€™s balance of payment for January-September, capital inflow to the country reached $5 974 million, up 8.8% on the same period last year.
The National Bank of Azerbaijan said only 8% of the capital was government-secured investments.

Foreign capital inflow
	January-September, 2007	January-September, 2008
Direct investment	3 391,9	2 959,4
- Oil-gas sector	3 115,0	2 479,7
- Other sectors	276,9	479,7
Credits and other investments	2 052,4	3 011,1
- Government-secured loans	313,4	478,0
- Unsecured loan	1 164,4	1 991,9
- Oil-gas sector	456,4	688,2
- Banks	615,6	967,1
- Others	92,6	336,6
- Other investments	574,4	541,2
Oil bonus	46,2	3,5
Total	5 490,5	5 974,0

Direct foreign investments made about $3 billion, of which 83.8% went to the oil- gas sector. $479.7 million was channeled into the non-oil sector.
According to the balance of payment, direct investment outflow (investment abroad) fell 44.4% to $3.6 billion. The decline is mostly attributed to the fall in capital repatriation by the Contract of Century Consortium (Azerbaijan International Operating Company).
Given that investment repatriation in the oil-gas sector was $6.1 billion in January-September, 2007, the figure declined by $2.74 billion to $3.36 billion during the same period this year.