Capital investment in Azerbaijan’s economy decreased by 9.5 percent year-on-year to 2.441 billion manats ($1.436 billion) in the first quarter, the State Statistics Committee said.

Investments decreased by 20.8 percent on annual basis in the oil and gas sector and rose by 10.1 percent in the non-oil sector in the first three months of this year.

Around 68 percent of total investments, 1.676 billion manats, were domestic funds, while over 31 percent, 764 million manats, were foreign direct investments. Funds were mainly used for production purposes and construction.

In 2021, capital investment decreased by 8.2 percent year-on-year to 16.127 billion manats due to restrictions imposed to curb the spread of the COVID-19.