FDIs surge in October 2017 to $2B from $670M

 

By Rose de la Cruz

 

Foreign direct investment net inflows rose threefold in October 2017 to $2 billion from $670 million in the comparable period in 2016.

 

The FDI surge reflects continued investor confidence in the country’s strong macroeconomic fundamentals and growth prospects.

 

Over ¾ of FDI net inflows were in equity capital with gross placements rising markedly to $1.6 billion from $84 million a year ago.

 

The other sectors where FDIs flowed were manufacturing; construction; real estate; and wholesale and retail trade.

 

The top country sources were the Netherlands, Singapore, Kuwait, the United States, and Germany. Investments in debt instruments (or intercompany borrowings between foreign direct investors and their subsidiaries/affiliates in the Philippines) amounted to $431 million, albeit lower by 22 percent than the previous year's level.

 

Meanwhile, reinvestments of earnings reached $57 million during the month.

 

On a cumulative basis, FDl net inflows for the first ten months of 20 .7 grew year-on-year by 20.5 percent to $7.9 billion, particularly for net equity capital investments which rose by 54.7 percent to $2.6 billion as gross equity capital placements of $3.1 billion. This more than offset withdrawals of $465 million.

 

Gross equity capital placements came mostly from the Netherlands, the United States, Singapore, Japan and Hong Kong.

 

 

By economic activity, equity capital investments were channeled mainly to electricity, gas, steam and air-conditioning supply, manufacturing; real estate; construction; and wholesale and retail trade activities, Non-residents' net investments in debt instruments totaled $4.6 billion during the period, 8.5 percent higher than the level recorded during the comparable period in 2016. Reinvestment of earnings amounted to $662 million.

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