Philippines' FDI soars 35.7% to $753 mn in July 2023
13 Oct 23 1 min read
Insights
- In July 2023, the Philippines saw a 35.7 per cent jump in FDI net inflows, totalling $753 million.
- This growth was driven by a 108.4 per cent surge in non-residents' net investments in debt instruments, which rose to $575 million.
- The main contributors to equity capital placements were Japan, US, and Singapore, focusing on sectors like manufacturing.
By country of source, equity capital placements during the month came mostly from Japan, the US, and Singapore. Said investments were channelled primarily to industries including manufacturing, the Philippines' central bank (BSP) said in a press release.
Despite the expansion in the monthly FDI net inflows, cumulative net inflows for the period January-July 2023 settled at $4.7 billion, a decline of 14.7 per cent from the $5.5 billion net inflows posted in the same period last year. FDI declined amid concerns over slowing global growth.
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Fibre2Fashion News Desk (NB)
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