Philippines posts $1.38b net foreign investment inflow in July

The Philippines received a net inflow of $1.38 billion in foreign investments, according to recent data released by the central bank. The latest data represents a significant improvement from the previous month, which saw a net outflow of $27.26 million.

The total foreign investment transactions for July amounted to $2.43 billion in inflows while gross outflows totalled $1.04 billion. This resulted in a net inflow that was 133.3 per cent higher than June’s figures.

The bulk of these investments came from Britain, the United States, Singapore, Luxembourg, and Norway, which together accounted for 93.7 per cent of the total., according to the report.

Compared to the same period last year, July 2024’s registered investments were 54.3 per cent higher than those in July 2023. Additionally, gross outflows increased by 70.6 per cent year-on-year.

For the first seven months of 2024, the Philippines recorded a dramatic increase in net foreign investment inflows, totalling $1.46 billion. This represents an 830.7 per cent rise compared to the net inflows during the same period in 2023.

Attribution: Bangko Sentral ng Pilipinas report

Subediting: Y.Yasser