THE Bangko Sentral ng Pilipinas said the Philippines was able to book the $1 billion in net inflows of foreign direct investments as of November 2023.

According to the BSP this is higher by 27.8 percent compared to the $820 million net inflows recorded in November 2022.

"This improvement was due mainly to the 57.8 percent expansion in nonresidents’ net investments in debt instruments to $897 million from $568 million a year ago," the BSP said. 

They said that the investments for the month came due to the investments from Japan and the United States and were channeled primarily to manufacturing, real estate, and construction.

The BSP also said that this is despite the higher FDI net inflow that month.

For now the total for the Jan-Feb period fell 13.3 percent year-on-year to $7.6 billion compared to $8.7 billion net inflows in the same period in 2022.

"Notwithstanding the country’s sustained economic growth, FDI remained subdued due to the lingering impact of high inflation and low growth prospects globally," the BSP said.