MANILA, Dec 10 (Reuters) - The Philippine central bank on
Monday released preliminary data on net foreign direct
investments (FDI) in September:
Sept Aug July Jun May Apr Mar
(in $ mln) 55 13 108 73 7 -13 14
- Net FDI inflows were $55 million in September, down 60
percent from $138 million in the same month last year.
- Net inflows from January to September totalled $1.1
billion, up nearly 40 percent from a year earlier, driven by
higher equity capital investments.
- The bulk of the September investments came from the
United States, Australia, Netherlands, British Virgin Islands,
and Japan. They benefited the manufacturing, real estate,
wholesale and retail, mining, financial and insurance, and
transportation and storage sectors.
- The central bank expects foreign direct investments to hit
$1.5 billion this year, higher than an initial forecast of $1.2
- Net foreign direct investment, portfolio inflows and
remittances from Filipinos working and living overseas help keep
the country's balance of payments (BOP) in surplus.
- The central bank has greatly increased its forecast for
the BOP surplus this year to $6.8 billion from a previous
estimate of $2.7 billion. In the first 10 months, the BOP
surplus was $6.44 billion.
For details click on central bank website, http://ww.bsp.gov.ph
(Reporting by Karen Lema; Editing by Richard Borsuk)
Keywords: PHILIPPINES ECONOMY/FDI
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