Net inflows of foreign direct investments (FDI) reached $499 million in May, the lowest in 16 months and marking the third straight month of contraction, according to the Bangko Sentral ng Pilipinas (BSP).
The latest FDI figure was one percent lower than the $504 million recorded in the same month last year and the lowest since the $478 million recorded in January 2023.
"This decline emanated mainly from the 31.7-percent drop in non-residents' net investments in equity capital (other than reinvestment of earnings)," the BSP said. "Likewise, reinvestment of earnings decreased marginally." Equity other than reinvestment of earnings dropped by 32 percent to $161 million from $235 million a year ago.
This story is from the August 14, 2024 edition of The Philippine Star.
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This story is from the August 14, 2024 edition of The Philippine Star.
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