Net FDI inflows in Philippines rise 23.1% YoY to $686 mn in Mar 2024

12 Jun '24

1 min read

Net FDI inflows in Philippines rise 23.1% YoY to $686 mn in Mar 2024

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Net FDI inflows into the Philippines continued its upward momentum for the third consecutive month in March, registering a 23.1-per cent YoY growth to reach $686 million.
Equity capital placements during the month were sourced primarily from Japan, Singapore, and the US.
The cumulative FDI net inflows in Q1 2024 was $3 billion—a 42.1-per cent YoY growth.

Net foreign direct investment (FDI) inflows into the Philippines continued its upward momentum for the third consecutive month in March this year, registering a 23.1-per cent year-on-year (YoY) growth to reach $686 million.

The expansion was driven mainly by net investments by non-residents in debt instruments, which grew by 19 per cent to $465 million from $391 million in March 2023.

Further, non-residents’ net investments in equity capital (other than reinvestment of earnings) in the month rose by 67.1 per cent to $157 million from $94 million in March 2023.

Meanwhile, their reinvestment of earnings declined by 11.3 per cent to $64 million in the month from $72 million in March last year, a release from the country’s central bank said.

Equity capital placements during the month were sourced primarily from Japan, Singapore, and the United States. These were invested largely in manufacturing, financial and insurance, and real estate sectors.

The cumulative FDI net inflows in the first quarter (Q1) this year was $3 billion—a 42.1-per cent growth from the $2.1 billion recorded in Q1 2023.

Fibre2Fashion News Desk (DS)

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