FDIs almost halved in June as more foreign funds pull out
Foreign funds continued to flow out of the Philippine in June, according to data from the Bangko Sentral ng Pilipinas.
The Philippines attracted $430 million in foreign direct investments during the month, down 48.5% year-on-year. This marks the fourth consecutive month of decline in FDI inflows.
Equity placements plummeted to $73 million from $208 million while withdrawals doubled to $49 million.
Investments in debt declined by 44 percent to $317 million.
For the first half, FDIs reached $3.6 billion, 39 percent lower than the previous year.
Capital placements primarily came from Japan, Singapore, China, South Korea and the US.
These were mostly invested in real estate, finance, manufacturing, and transportation and storage, the BSP said.