MANILA, May 1 (Xinhua) -- The Philippines' foreign investments yielded net outflows of 236 million U.S. dollars in March, the Philippine central bank said Wednesday.
The Bangko Sentral ng Pilipinas (BSP) said the foreign investment transactions in March resulted from the 1.6 billion dollars in gross outflows and 1.4 billion dollars in gross inflows for the month.
"The recorded net outflows are a reversal from the 689 million dollars net inflows recorded in February 2024," the BSP said.
It added that the registered investments in March are 9.1 percent lower than the 1.5 billion dollars recorded in February.
According to the BSP, the registered investments were mainly in banks, holding firms, property, transportation services, and food, beverage, and tobacco. Investments for the month mostly came from Britain, Singapore, the United States, Switzerland, and Luxembourg.
Registered investments in March 2024 are 12.1 percent higher than the 1.3 billion dollars recorded in March 2023, while gross outflows increased by 24 percent from a year earlier, the bank said. ■
