Philippines’ FDI net inflows dip by 29 pct in June

MANILA, Sept. 10 (Xinhua) — Foreign direct investment (FDI) that flowed into the Philippines contracted year-on-year by 29 percent in June 2024 to reach 394 million US dollars, the country’s central bank said Tuesday.

“The decline resulted from lower net inflows across all major FDI components. In particular, nonresidents’ net investments in debt instruments fell by 30 percent to 213 million dollars from 304 million dollars in June 2023,” the Bangko Sentral ng Pilipinas (BSP) said .

Similarly, the BSP said nonresidents’ net investments in equity capital (other than reinvestment of earnings) and their reinvestment of earnings decreased by 33.2 percent and 23.4 percent, respectively.

Equity capital placements in June 2024 were sourced primarily from Japan, the United States, Sweden, and Singapore. These were invested mainly in the manufacturing, real estate, wholesale and retail trade, and financial and insurance industries.

On a cumulative basis, the BSP said FDI net inflows reached 4.4 billion dollars from January to June 2024, 7.9 percent higher than the 4.1 billion dollars recorded in the same period last year.