On March 21, the Central Bank of Azerbaijan reported that German foreign direct investment (FDI) in Azerbaijan reached $75.297 million in 2024, marking a 2.83-fold increase ($48.779 million) from the previous year and accounting for 1.1% of total FDI.

Total FDI in Azerbaijan amounted to $7.046 billion, reflecting a 5.83% annual increase. French FDI in Azerbaijan surged 25-fold to $121.91 million, making up 1.7% of total FDI, while Azerbaijan’s investments in France declined by 2.43% to $19.22 million. In 2023, French FDI in Azerbaijan was significantly lower at $4.85 million.

The International Finance Corporation (IFC), part of the World Bank Group, invested $17.83 million in Azerbaijan in 2024, representing 0.3% of total FDI. IFC currently manages seven projects in Azerbaijan with total investments of $47 million and plans to increase financial support to between $200 million and $500 million over the next five years. Since its involvement, IFC has invested over $800 million in more than 60 projects in Azerbaijan.

Türkiye’s FDI in Azerbaijan stood at $1.219 billion in 2024, declining by 6.4% ($83.394 million) from 2023, with a 17.3% share in total FDI. Azerbaijani investments in Türkiye dropped sharply by 86.28% to $248.957 million, making up 14.1% of total FDI in Türkiye. In 2023, Turkish FDI in Azerbaijan was $1.302 billion, while Azerbaijani investments in Türkiye totaled $1.815 billion.

Azerbaijan’s FDI in the UAE reached $457.531 million in 2024, a 4.82-fold increase ($362.712 million), representing 26% of total Azerbaijani FDI. Meanwhile, the UAE’s investments in Azerbaijan grew by 53.67% to $490.156 million, accounting for 7% of total FDI. In 2023, Azerbaijani FDI in the UAE was $94.819 million, while the UAE’s FDI in Azerbaijan stood at $1.857 billion.

In 2024, money transfers from Azerbaijan to Greece reached $2.558 million, rising 2.01 times ($1.288 million) compared to 2023. Greece accounted for 0.5% of total remittances from Azerbaijan, which amounted to $526.76 million, a 4.25% decline from 2023. In 2023, remittances to Greece totaled $1.27 million, while total transfers abroad stood at $550.13 million.