MANILA – Foreign direct investments (FDI) net inflow went up by 29.9 percent in December last year.
Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed that FDI net inflows during the month amounted to USD826 million from USD636 million in December 2022.
"FDI increased mainly on the back of the 86.2 percent growth in nonresidents’ net investments in debt instruments to USD527 million from USD283 million in the comparable month in 2022," the central bank said.
Top sources of FDIs during the month was Japan, followed by Singapore and the United States.
These were channeled primarily to manufacturing, real estate, and wholesale and retail trade.
The full-year FDI net inflows, however, declined by 6.6 percent to USD8.9 billion from USD9.5 billion net inflows recorded in 2022.
"Notwithstanding the country’s sound macroeconomic fundamentals, concerns over subdued global economic growth and geopolitical risks continued to weigh on investors’ investment plans," the BSP said.
The BSP said the biggest sources of FDIs last year were Japan, United States, Singapore and Germany.
More than 50 percent of these FDIs went to the manufacturing sector, followed by real estate and financial and insurance. (PNA)
