27-7-2023 (MANILA) The Philippines’ foreign investments showed net inflows of $1 million in June, marking a turnaround from four consecutive months of net outflows, according to the Philippine central bank. The Bangko Sentral ng Pilipinas (BSP) reported that the country recorded $889 million in gross inflows for the month, slightly exceeding the gross outflows of $888 million.
The BSP noted that the net inflows of $1 million in June represent an improvement from the net outflows of $342 million recorded for the same period last year. It said that 78.7% of the registered investments in June were primarily in property, banks, holding firms, food, beverage, and tobacco, and telecommunications.
The top five investor countries were Britain, the United States, Luxembourg, Singapore, and Switzerland, with a combined share of 84.2%.
