MANILA (XINHUA) – The Philippines’ foreign investments yielded net inflows of USD1.38 billion in July, according to data released by the Philippine central bank on Friday night.
The Bangko Sentral ng Pilipinas said the foreign investment transactions in July resulted from USD2.43 billion in gross inflows and USD1.04 billion in gross outflows for the month, a reversal from USD27.26 million in net outflows in June.
The central bank added that July’s registered investments were 133.3 per cent higher than in June 2024.
The majority of investments for the month originated from Britain, the United States, Singapore, Luxembourg, and Norway, collectively contributing 93.7 per cent.
Year-on-year, registered investments in July 2024 are 54.3 per cent higher than in July 2023, while gross outflows grew by 70.6 per cent compared to last year.
It said the first seven months’ transactions for foreign investments registered with the central bank yielded net inflows of USD1.46 billion, 830.7 per cent higher than the net inflows in the same period in 2023.
