FDI registered in April down 61.1%

The net inflow of job-generating foreign direct investments (FDI) fell 61.1 percent year-on-year to $874 million in April from the record-high amount posted a year ago, the latest Bangko Sentral ng Pilipinas (BSP) data released Monday showed.

The FDI last April was actually the largest in the last 12 months, but it fell short of the $2.244-billion net inflow recorded in April last year.

FDI generated during the first four months also slid 32 percent to $2.434 billion from $3.581 billion a year ago.

In a statement, the BSP said the net inflow posted as of end-April was a result of “continued investor confidence in the country’s sound macroeconomic fundamentals.”

In April alone, all FDI components registered positive balances, the BSP said.

Gross equity capital placements reached $84 million, higher than the $14 million in withdrawals. However, the net equity capital investments of $70 million plunged 91.6 percent from $825 million in the same month last year.

The BSP said most of the equity capital went to the following sectors: Electricity, gas, steam and air-conditioning supply; financial and insurance; human health and social work; manufacturing; and real estate.

Majority of the equity capital investments came from France, Hong Kong, Japan, Singapore and the United States.