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Philippines’ foreign investments yield net inflows in August

By Contributor on October 1, 2024
MANILA (Xinhua) — The Philippines’ foreign investments yielded net inflows of 533.95 million U.S. dollars in August, according to the data released by the Philippine central bank Monday night.
The Bangko Sentral ng Pilipinas (BSP) said the foreign investment transactions in August resulted from the 1,370.72 million dollars in gross inflows and 836.78 million dollars in gross outflows for the month.
The central bank added that the month’s registered investments were 43.7 percent lower than in July.
The majority of investments for the month came from Singapore, the United States, the United Kingdom, Luxembourg, and Malaysia, with a combined share of 81.5 percent. Year-on-year, registered investments in August 2024 are 4.8 percent lower than the 1,440.59 million dollars recorded in August 2023, while gross outflows decreased by 35 percent compared to last year.
The BSP said transactions from Jan. 1 to Aug. 31 for foreign investments registered with the BSP yielded net inflows of 1,998.04 million dollars, 542.9 percent larger than the net inflows in the same period in 2023. Enditem

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