Tuesday, July 23, 2024
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Philippines’ FDI net inflows dips by 36.9pc in April

MANILA (XINHUA) – Foreign direct investment (FDI) that flowed into the Philippines declined year-on-year by 36.9 per cent in April this year to USD556 million, the country’s central bank said yesterday.

In particular, the Bangko Sentral ng Pilipinas (BSP) said nonresidents’ net investments in debt instruments decreased by 38.8 per cent to USD407 million from April last year.

Likewise, the BSP said that non-residents’ net investments in equity capital (other than reinvestment of earnings) and their reinvestment of earnings declined by 48.1 per cent to USD68 million and 4.2 per cent to USD81 million.

Equity capital placements in April were sourced primarily from Japan, Malaysia, Singapore and the United States. These investments were diversified across the manufacturing, real estate, wholesale and retail trade, and financial and insurance industries.

Despite declining FDI in April, the BSP reported a significant 18.7 per cent increase in the FDI level from January to April 2024, reaching USD3.5 billion compared to the USD3 billion recorded in January-April 2023.