MANILA, Nov. 11 (Xinhua) -- The foreign direct investment (FDI) into the Philippines fell by 14.5 percent year over year in August to reach 813 million U.S. dollars, the Philippine central bank said Monday.
"The decline in FDI net inflows during the month was due mainly to the 21.6 percent contraction in nonresidents' net investments in debt instruments to 529 million dollars from 675 million dollars," the Bangko Sentral ng Pilipinas (BSP) said in its press release.
The BSP added that nonresidents' reinvestment of earnings also declined by 9.4 percent to 217 million dollars from 240 million dollars.
Meanwhile, the BSP said that nonresidents' net investments in equity capital other than reinvestment of earnings expanded by 83.6 percent to 66 million dollars from 36 million dollars in August 2023.
These equity capital placements emanated mainly from Japan and the United States and were primarily invested in the manufacturing, real estate, and electricity, gas, steam, and air-conditioning supply industries, the bank said.
On a cumulative basis, the BSP said net FDI inflows from January to August this year rose by 3.9 percent to 6.1 billion dollars from the net inflows of 5.8 billion dollars posted in January-August 2023. ■