MANILA, Jan. 10 (Xinhua) -- Foreign direct investment (FDI) that flowed into the Philippines declined year-on-year by 29.6 percent in October 2023 to 655 million U.S. dollars, the country's central bank said Wednesday.
The Bangko Sentral ng Pilipinas (BSP) said the latest figure brought the country's FDI net inflows from January to October 2023 to 6.5 billion dollars, a 17.5 percent decline from the same period in 2022.
The decline of FDI net inflows recorded in October 2023 "was due largely to the 26.1 percent decrease in net investments in debt instruments to 504 million dollars from 682 million dollars," the BSP said.
It added that nonresidents' net investments in equity capital (other than reinvestment of earnings) and reinvestment of earnings also declined by 54.4 percent and 10.3 percent, respectively.
The bulk of the equity capital placements during the reference month originated from Japan, the United States, and Singapore. These were directed mostly to the manufacturing, real estate, as well as financial and insurance industries, the BSP said. ■
