Long-term capital inflows into the Philippines slowed for the fourth consecutive month in November 2018, reversing the high levels of investment reported earlier this year, according to data from the central bank.
According to Bang Central and ng Pilipinas, foreign direct investment recorded net cash flows of $ 531 million in November 2018. This was 45.9% lower than the $ 982 million net cash flow recorded in November 2017.
"The decline is mainly due to the decline in net investments in debt instruments (consisting mainly of intercompany loans / loans between direct investors and subsidiaries / affiliates in the Philippines), which totaled $ 333 million, compared to $ 724 million in the corresponding month of 2017," the central bank said.
Net equity investments were $ 137 million, down 31.9% from net income of $ 202 million in November 2017. Equity issues during the month were mainly from Taiwan, the US, Thailand, Luxembourg and the Netherlands.
As a result of these developments, direct investments abroad totaled $ 9.1 billion in January-November 2018, a decrease of 3.2% compared with $ 9.4 billion recorded in the corresponding period in 2017.
Read the next
The last stories
Subscribe to INQUIRER PLUS to access Discoverer's daily Philippines & 70 other titles, share up to 5 gadgets, listen to news, download as early as 4m & share articles on social media. Call 896 6000