Total investment in Azerbaijan’s economy fell by 5.3 percent year-on-year to 4.9 billion manats ($2.9 billion) in January-May, the State Statistics Committee.

The share of domestic investment amounted to 60.3 percent in the first five months of this year.

Investment in the oil and gas sector declined by 2.1 percent, while investment in the non-oil sector fell by 7.9 percent, the committee said.

In January-May,  3.4 billion manats or 69 percent of total capital investment, was directed to production facilities, 1.1 billion manats – to the construction of service sector, 371.6 million manats – to residential construction.

In 2020, capital investment in fixed assets in Azerbaijan declined by 8.3 percent due to restrictions amid the COVID-19 pandemic.