The Philippines booked $673 million in net inflows of foreign portfolio investments in November 2023, the Bangko Sentral ng Pilipinas (BSP) said Thursday.
The BSP said transactions on foreign investments registered through authorized agent banks (AABs) showed gross inflows of $1.6 billion and gross outflows of $902 million during the month.
It said the net inflows were a reversal of the net outflows of $328 million posted in October 2023.
The $1.6 billion registered investments in November went up by $620 million, or 65 percent, from $954 million in October.
The top investors countries in November were the United Kingdom, Singapore, the United States, Luxembourg and Hongkong with combined share to total at 91.9 percent.
The $902 million gross outflows in November were lower by $381 million, or by 29.7 percent, compared to the gross outflows of $1.3 billion recorded in October.
Data showed that on a year-on-year basis, the $673 million net inflows in November went up by 37.7 percent from $489 million net inflows recorded in the same month in 2022.
The 11-month portfolio investments, however, resulted in net outflows $42 million, a reversal of the $794-million net inflows observed in the same period last year.
Registration of inward foreign investments is optional under the rules on foreign exchange (FX) transactions.