International consortia repatriate $2.6 bln as profitable oil and gas from Azerbaijan in 9M 2024, down 10% YoY

BAKU. Dec 11 (Interfax) - A total of $4.47 billion in capital was removed from Azerbaijan in January-September 2024, down 12% from $5.078 billion in the same period of last year, according to the balance of payments data published by the Central Bank.

International oil and gas consortia repatriated $2.6 billion of this the form of profitable oil and gas, down 10.4% from $2.9 billion in 9M 2023. In total, foreign investors repatriated $2.8 billion, down from $3 billion a year previously.

Residents of Azerbaijan paid non-residents $300 million interest on securities in 9M 2024, down from $307.8 million in 9M 2023; $400 million interest on foreign loans, up from $337.1 million; and $400 million in other payments, up from $202.9 million.

A total of $6.664 billion was removed from Azerbaijan in 2023, down 40.3% from 2022, with international consortia repatriating $3.7 billion as profitable oil and gas, down from $5.9 billion.