June FDI swings back to net inflow of $588M

FOREIGN direct investments (FDI) in the Philippines reverted to net inflows in June from net outflows a year earlier, with increases recorded across major components.

Data from the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed net FDI inflows rose to $588 million in June, a turnaround from the $26 million net outflows a year earlier. The net June net inflow this year was also higher than the net $473 million posted in the preceding month.