Philippines' FDI net inflows dips by 36.9 pct in April-Xinhua

Philippines' FDI net inflows dips by 36.9 pct in April

Source: Xinhua

Editor: huaxia

2024-07-10 16:09:17

MANILA, July 10 (Xinhua) -- Foreign direct investment (FDI) that flowed into the Philippines declined year-on-year by 36.9 percent in April 2024 to 556 million U.S. dollars, the country's central bank said Wednesday.

In particular, the Bangko Sentral ng Pilipinas (BSP) said nonresidents' net investments in debt instruments decreased by 38.8 percent to 407 million dollars from April 2023.

Likewise, the BSP said that nonresidents' net investments in equity capital (other than reinvestment of earnings) and their reinvestment of earnings declined by 48.1 percent to 68 million dollars and 4.2 percent to 81 million dollars, respectively.

Equity capital placements in April were sourced primarily from Japan, the United States, Malaysia, and Singapore. 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 percent increase in the FDI level from January to April 2024, reaching 3.5 billion dollars compared to the 3 billion dollars recorded in January-April 2023.

"This improvement reflects investor confidence in the Philippine economy's resilience amid global uncertainties," the central bank said.