Foreign direct investments plummet in May 2019

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Metro Manila (CNN Philippines, August 13) — Foreign direct investments (FDI) declined sharply in May, according to the latest data from the Bangko Sentral ng Pilipinas.

The BSP reported there was a net inflow of $242 million for the month, 85.1 percent lower than the $1.6 billion registered in the same month last year.

The BSP attributed this decline to lower net investments in debt instruments, due to higher prepayment and repayments of debts from local enterprises, and a decline of borrowing from their foreign counterparts.

These developments led to a 37.1 percent decline in FDI for the first five months of 2019 compared with figures for 2018. FDI recorded 43.1 billion net inflows from January to May this year, compared with $5 billion for the same period last year,

Investments in May mainly came from the US, Japan, Singapore, China and Hong Kong. These were placed in real estate, manufacturing, financial and insurance, construction, and human health and social work industries.