Net FDI inflows into Philippines down 1% YoY to $499 mn in May 2024

16 Aug '24

1 min read

Net FDI inflows into Philippines down 1% YoY to $499 mn in May 2024

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Net FDI inflows into the Philippines were worth $499 million in May this year, down by 1 per cent YoY, the central bank said.
This decline emanated mainly from the 31.7-per cent YoY drop in non-residents' net investments in equity capital other than reinvestment of earnings, which decreased marginally by 3.7 per cent YoY to $97 million in the month.

Net foreign direct investment (FDI) inflows into the Philippines were worth $499 million in May this year, down by 1 per cent year on year (YoY) from $504 million in the same month last year, according to the country’s central bank (BSP).

This decline emanated mainly from the 31.7-per cent YoY drop in non-residents’ net investments in equity capital (other than reinvestment of earnings) to $161 million from $235 million in May 2023.

Reinvestment of earnings in the country decreased marginally by 3.7 per cent YoY to $97 million. Non-residents’ net investments in debt instruments increased by 43.4 per cent YoY to $242 million from $169 million in May 2023.

Equity capital placements during May 2024 originated mostly from Japan, the United States and Hong Kong. Said investments were channeled largely to the manufacturing, real estate and arts, entertainment and recreation industries.

Notwithstanding the recorded decline in May, FDI net inflows between January and May this year grew by 15.8 per cent YoY to $4 billion, a BSP release said.

The top FDI sources in January-May 2004 were the United Kingdom (56 per cent), Japan (29 per cent) and the United States (6 per cent).

Fibre2Fashion News Desk (DS)

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