MANILA, Feb. 11 (Xinhua) -- The foreign direct investment (FDI) into the Philippines declined by 19.8 percent year over year in November 2024 to 901 million U.S. dollars, the Philippine central bank has said.
By component of FDI, nonresidents' net investments in debt instruments contracted by 17.9 percent to 791 million dollars in November 2024 from 964 million dollars in November 2023, the Bangko Sentral ng Pilipinas (BSP) said in a press release on Monday.
Nonresidents' net investments in equity capital other than reinvestment of earnings declined by 58.9 percent to 35 million dollars from 85 million dollars, the central bank added.
Nonresidents' reinvestment of earnings remained broadly stable at 74 million dollars, said the BSP.
Equity capital placements in November 2024 came primarily from Japan, the United States, and Singapore. The investments were channeled mainly in the manufacturing, real estate, financial and insurance, and administrative and support service industries, according to the BSP.
Notwithstanding the decline in FDI net inflows during the month, the BSP said the cumulative FDI level increased by 4.4 percent to 8.6 billion dollars in January-November 2024 from 8.2 billion dollars in January-November 2023. ■
