August 13, 2019
Foreign direct investments (FDl) registered net inflows of $242 million in May, 85.1 percent lower than the $1.6 billion net inflows in the same period in 2018, the Bangko Sentral ng Pilipinas ( BSP) said Tuesday.
This resulted mainly as net investments in debt instruments declined from $1.3 billion in May 2018 to $149 million during the month due mainly to higher prepayments and repayments of debt owed by resident enterprises to their foreign affiliates, coupled with the decline in their borrowings from their foreign affiliates.
Moderate net inflows of equity capital amounting to $1 million from $241 million a year ago also contributed to the decline in FDI.
Bulk of the equity capital placements during the month were sourced from the United States, Japan, Singapore, China, and Hong Kong.
These were invested largely in real estate, manufacturing, financial and insurance, construction and human health and social work industries.
Reinvestment of earnings amounted to $92 million, 15.9 percent higher than the $80 million in the same month last year.
As a result of these developments, FDl recorded $3.1 billion net inflows in the first five months of 2019, lower by 37.1 percent than the US$5 billion net inflows in the comparable period last year.
This was due mainly to the drop in net equity capital investments as placements declined to $787 million from $1.5 billion, while withdrawals increased to $451 million from $139 million during the period.
Net investments in debt instruments also decreased by 26 percent to $2.4 billion from $3.2 billion in January - May 2018.
For the period January - May, equity capital placements originated from Japan, the United States, China, Singapore, and South Korea.
These were channeled largely to financial and insurance, real estate, manufacturing, transportation and storage, and administrative and support service industries.
Reinvestment of earnings grew by 12.9 percent to $418 million from $371 million in the same period last year. DMS
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