On April 1, the Foreign Direct Investment (FDI) of Azerbaijani residents abroad surged in 2023, reaching $3.117 billion. This figure marks a remarkable increase of 2.7 times compared to 2022, according to data from the Central Bank of Azerbaijan.

Throughout 2023, Azerbaijani residents displayed a notable investment pattern abroad. The first quarter saw investments totaling $289.896 million, followed by $330.365 million in the second quarter, a substantial increase to $2.071 billion in the third quarter, and $425.541 million in the fourth quarter.

A significant portion of these investments flowed into the Turkish economy, totaling $1.815 billion, representing a staggering growth rate of 7.4 times compared to the previous year. This accounted for 58.2% of all FDI, a substantial increase from 21.4% in 2022.

Additionally, Azerbaijani residents directed investments to other key destinations, including the United States ($311.775 million), the United Kingdom ($156.759 million), the Netherlands ($98.199 million), and the United Arab Emirates ($94.819 million).

Of particular note, investments in the Russian economy increased substantially, soaring 5.9 times to reach $91.954 million in 2023. This accounted for 2.9% of total investments abroad, indicating a significant growth trajectory compared to the previous year.