Philippines' foreign investments yield net inflows in August
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E-mail Xinhua, September 29, 2023
MANILA, Sept. 29 (Xinhua) -- The Philippines' foreign investments yielded net inflows of 153 million U.S. dollars in August 2023, the Philippine central bank said Thursday night.
The Bangko Sentral ng Pilipinas (BSP) said the August net inflows resulted from the 1.4 billion dollars in gross inflows and the gross outflows of 1.3 billion dollars for the month.
"The recorded net inflows are smaller compared to the net inflows posted in July 2023, amounting to 962 million dollars," the BSP said in a statement.
The 153 million dollars in net inflows in August were a reversal from the 86 million dollars in net outflows recorded for the same period a year ago, the BSP added.
The majority of registered investments were made in banks, property, holding firms, food, beverage, and tobacco, and transportation services.
The top five investor countries were Japan, Britain, the United States, Luxembourg, and Singapore, with a combined share of 88.9 percent. Enditem
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