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Philippines' FDI inflows down 34.0% to $488 mn in May 2023: BSP

10 Aug '23
1 min read
Pic: Shutterstock/GagoDesign
Pic: Shutterstock/GagoDesign

Insights

  • The Philippines' FDI net inflows reached $488 million in May 2023, a 34.0 per cent drop from $739 million in May 2022.
  • This fall was due to a 70.7 per cent contraction in non-residents' net investments in debt instruments.
  • Equity capital placements mainly came from Germany, Japan, and the US.
  • FDI net inflows from January-May 2023 fell by 20.8 per cent.
The Philippines’ foreign direct investment (FDI) net inflows reached $488 million in May 2023, albeit 34.0 per cent lower than the $739 million net inflows posted in May 2022. The decline in FDI net inflows reflected the 70.7 per cent contraction in non-residents’ net investments in debt instruments to $161 million from $551 million in the same month last year, as per the Philippine central bank (BSP).

Meanwhile, non-residents’ net investments in equity capital (other than reinvestment of earnings) increased by 158.7 per cent to $235 million from $91 million in May 2022. FDI remains subdued due to the effects of relatively higher price and interest rate levels globally.

Equity capital placements originated mostly from Germany, Japan, and the US. These were invested largely in the manufacturing and real estate industries.

On a cumulative basis, FDI net inflows for the period January-May 2023 dropped by 20.8 per cent to $3.4 billion from the $4.3 billion net inflows posted in the same period in 2022.

ALCHEMPro News Desk (NB)
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