MANILA, Dec. 11 (Xinhua) -- Foreign direct investment (FDI) that flowed into the Philippines declined 42.2 percent year-on-year in September to reach 422 million U.S. dollars, the country's central bank said Monday.
The Bangko Sentral ng Pilipinas (BSP) said the latest figure brought the FDI net inflows for the first three quarters of 2023 to 5.9 billion dollars, a 15.9-percent decline from the same period in 2022.
"This resulted as all major FDI components posted lower net inflows during the month, particularly nonresidents' net investments in debt instruments, which decreased by 47.8 percent to 238 million dollars from 456 million dollars in September 2022," the BSP said.
Likewise, the BSP added that nonresidents' net investments in equity capital -- other than reinvestment of earnings -- and their reinvestment of earnings declined 43.9 percent to 105 million dollars from 187 million dollars and 9.9 percent to 79 million dollars from 87 million dollars, respectively.
The bulk of the inflows in September came mainly from Japan, Singapore and the United States, infused largely in financial and insurance, construction and manufacturing industries, the central bank said. ■
