The central bank reported that as of end-May, net foreign direct investments (FDI) registrations declined by 37.1 percent year-on-year to $3.14 billion from $5 billion same time last year.
For the month of May only, the Bangko Sentral ng Pilipinas said net inflows totaled $242 million, also lower by 85.1 percent from $1.62 billion in May of 2018.
“ 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,” said the BSP which also noted that the mere $1-million net inflows of equity capital compared to $241 million in 2018 also contributed to the decline in FDI during the period.
For the January to May tally, net FDI was down by 37.1 percent because of a 48.9 percent decline in net equity capital investments to $787 million compared to same time last year of $1.5 billion. In the meantime, the BSP said withdrawals increased to $451 million from $139 million while net investments in debt instruments decreased to $2.4 billion from $3.2 billion.
For the period January to May, equity capital placements mostly came from investors based in Japan, the US, China, Singapore, and South Korea. The biggest of these placements were in the financial and insurance, followed by real estate, manufacturing, transportation and storage, and administrative and support service industries.
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