Philippines' FDI net inflows dip by 1 pct in May
Source: Xinhua | 2024-08-13 | Editor:Ines
Foreign direct investment (FDI) that flowed into the Philippines declined by 1 percent year-on-year in May this year to 499 million U.S. dollars, the country's central bank said Monday.
"This decline emanated mainly from the 31.7 percent drop in nonresidents' net investments in equity capital (other than reinvestment of earnings) to 161 million dollars from 235 million dollars in May 2023," the Bangko Sentral ng Pilipinas (BSP) said.
Likewise, it said earnings reinvestment decreased marginally by 3.7 percent to 97 million dollars from 101 million dollars.
Meanwhile, it added that nonresidents' net investments in debt instruments increased by 43.4 percent to 242 million dollars from 169 million dollars in May 2023.
Equity capital placements in May were sourced primarily from Japan, the United States, and China's Hong Kong. These investments were diversified across the manufacturing, real estate, and arts, entertainment, and recreation industries.
Despite the decline in May, the BSP said FDI net inflows from January to May grew by 15.8 percent to 4 billion dollars compared to the 3.5 billion dollars in net inflows reported a year earlier.
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