Finance

Finance

British residents slash investment in Azerbaijan

03 April 2009 15:05 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. The United Kingdom was the number one investor in Azerbaijan for fixed capital investment by foreign countries and international institutions in the oil-rich Caspian nation during January-February, said Azerbaijanâ€™s State Statistical Committee.
Investment by British residents dropped by 2.4 times over the past year, said the top body.
The amount of fixed investment by British residents in Azerbaijan was AZN 82.069 million ($101.928 million), compared to AZN 196.497 million ($233 million).
The amount of total fixed investment through foreign sources reached AZN 177.4 million during January-February, down 55.7% from a year ago.

Countries	January-February 2009 (AZN mln.)	Share , %
Total	177 381,7	100,0
Including:
The UK	82 069,0	46,3
The US	37 865,5	21,4
Japan	15 449,8	8,7
Turkey	14 863,4	8,4
Norway	9 617,5	5,4
South Korea	7 703,7	4,3
Czech Republic	229,0	0,1
Germany	24,7	0,0
France	19,4	0,0

The share of British capital in total investments dropped to 46.3% from 49.6%.
The UK investors were followed by US, Japanese, Turkish and Norwegians which made about 94.5% of total capital investment in January-February.