FDI net inflows at $586 million in May
Central bank data showed that the FDI net inflows—a key source of jobs and capital for the local economy—recorded a 3.93% drop from the $610 million in April, and a 21.3% increase from $483 million the same month last year.
'The increase resulted from the significant expansion in nonresidents' net investments in debt instruments,' the BSP said in an accompanying statement, with an 88.3% annual growth to $427 million from $227 million.
Equity capital placements were recorded at $62 million, while reinvestment of earnings stood at $97 million.
Placements for the month came mostly from the United States which accounted for 36%, followed by Japan with 33%, Singapore with 12%, and South Korea with 12%. These were then channeled mainly into manufacturing, real estate, and electricity, gas, steam, and air conditioning supply industries.
Year-to-date FDI net inflows stood at $3.0 billion, down by 26.9% from $4.0 billion in the January to May period of 2024. — BM, GMA Integrated News
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