Philippines’ foreign investments yield net inflows in July

MANILA, Aug. 31 (Xinhua) — The Philippines’ foreign investments yielded net inflows of 1.38 billion U.S. dollars in July, according to the data released by the Philippine central bank Friday night.
The Bangko Sentral ng Pilipinas said the foreign investment transactions in July resulted from 2.43 billion dollars in gross inflows and 1.04 billion dollars in gross outflows for the month, a reversal from 27.26 million dollars in net outflows in June.
The central bank added that July’s registered investments were 133.3 percent higher than in June 2024.
The majority of investments for the month originated from Britain, the United States, Singapore, Luxembourg, and Norway, collectively contributing 93.7 percent.
Year-on-year, registered investments in July 2024 are 54.3 percent higher than in July 2023, while gross outflows grew by 70.6 percent compared to last year.
It said the first seven months’ transactions for foreign investments registered with the central bank yielded net inflows of 1.46 billion dollars, 830.7 percent higher than the net inflows in the same period in 2023. ■