Foreign direct investment (FDI) that flowed into the Philippines dropped by 14.1 percent in April 2023 to reach 876 million U.S. dollars from the 1 billion dollars net inflows in April 2022, the Philippine central bank said on Monday.
The Bangko Sentral ng Pilipinas (BSP) attributed the decline in FDI net inflows in April to “concerns over slowing economic growth and relatively high inflation levels globally.” Regarding components, the BSP said that net investments in debt instruments, which declined by 7.7 percent to 663 million dollars, continued to comprise most of the country’s FDI for the period.
Meanwhile, the BSP said net equity investments other than reinvestment of earnings registered the highest decline of 33.8 percent to 136 million dollars. According to the BSP, the bulk of the inflows in April came mainly from Japan, the United States and Singapore, and were invested primarily in manufacturing, real estate, and financial and insurance industries. The BSP said that the January to April FDI net inflows amounted to 2.9 billion dollars, 18 percent lower than the 3.6 billion dollars net inflows posted in the same period of last year.
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