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Friday, March 29, 2024

FDIs dipped 39% to $3.6b in the first six months

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Net inflows of foreign direct investments dipped 39 percent in the first half to $3.6 billion from $5.8 billion a year ago, the Bangko Sentral ng Pilipinas said Tuesday.

Data showed that net equity capital investments in the six-month period declined to $361 million from $1.6 billion as placements went down 51 percent to $860 million from $1.7 billion.  Withdrawals increased by 206 percent to $499 million from $163 million.

Equity placements in the first six months came mostly from Japan, the United States, Singapore, China and South Korea. These went to financial and insurance, real estate, manufacturing, transportation and storage, administrative and support services.

Net investments in debt instruments were recorded at $2.7 billion, down from $3.8 billion in the same period last year. Meanwhile, reinvestment of earnings increased by 12.1 percent to $507 million from $453 million.

The Bangko Sentral said that in June, net inflows of FDIs fell 49 percent to $430 million from $836 million a year ago.

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Net FDI inflows declined 4.4 percent in 2018 to $9.802 billion from the record $10.256 billion registered in 2017.

The full-year number missed the official target of $10.4 billion set by the Bangko Sentral.

The BSP expects net FDI inflows to hit $9 billion in 2019.

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