Philippine foreign direct investments down to $403m in May

The Philippine foreign direct investments (FDI) have posted inflows of 403 million U.S. dollars in May, 6.8 percent lower compared to the same period last year, as reinvestment of earnings and placements in debt instruments plunged, the central bank said Monday.

Net equity capital investments more than doubled in May to reach 160 million U.S. dollars from 75 million U.S. dollars during the same month last year.

In particular, equity capital placements of 181 million U.S. dollars exceeded withdrawals of 20 million U.S. dollars in May.

Equity capital investments during the month came mostly from the United States, Germany, Japan, Singapore and China's Taiwan and they were channeled mainly to financial and insurance sectors; wholesale and retail trade; real estate; manufacturing and administrative and support service activities.

Reinvestment of earnings amounted to 52 million U.S. dollars, 15.6 percent lower from a year ago level, while non-residents' investments in debt instruments issued by local affiliates reached 191 million U.S. dollars, 35.6 percent lower from last year.

From January to May, FDI registered net inflows of 1.6 billion U.S. dollars, 41.9 percent lower than the 2.8 billion U.S. dollars registered during the same period last year.