MANILA (XINHUA) – Foreign direct investment (FDI) that flowed into the Philippines declined year-on-year by 7.8 per cent in August to reach USD789 million.
The Bangko Sentral ng Pilipinas (BSP) yesterday said the latest figure brought the country’s FDI net inflows from January to August to USD5.5 billion, a 12.9 per cent decline from the same period in 2022.
“The marginal decline in FDI net inflows reflected the 7.8 per cent contraction in nonresidents’ net investments in debt instruments to USD537 million from USD582 million in August 2022,” the BSP added.
It added the FDI decline was tempered partly by the expansion in non-residents’ net investments in equity capital other than reinvestment of earnings by 13.3 per cent to USD36 million from USD31 million and their reinvestment of earnings by 21.4 per cent to USD217 million from USD179 million.
The bulk of the inflows in August came mainly from Japan, the United States, and Singapore, infused largely in manufacturing, wholesale and retail trade and information and communication industries, the central bank said.