Philippines' Foreign Investments Yield Net Outflows in April

The Bangko Sentral ng Pilipinas (BSP) said the foreign investment transactions in April, higher than the 236 million dollars net outflows recorded in March, resulted from the 1.2 billion dollars in gross outflows and 914 million dollars in gross inflows for the month.

In the first four months this year, transactions for foreign investments registered with the BSP yielded net inflows of 65 million dollars, a turnaround compared to the 680 million dollars net outflows recorded for the same period in 2023, the BSP said.

The 914 million dollars foreign investments in April are 35.1 percent lower than the 1.4 billion dollars recorded in March, the central bank added. Investments mostly came from the United States, Britain, Singapore, Luxembourg, and China's Hong Kong, with a combined share of 87.9 percent.

The 1.2 billion dollars gross outflows for the month were 25.4 percent lower than the gross outflows recorded in March. The U.S. remains the top destination of outflows, receiving 527 million dollars, or 43 percent of total outward remittances.

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