MANILA, March 10 (Xinhua) -- Foreign direct investment (FDI) into the Philippines declined by 85.2 percent year over year in December 2024, amounting to 110 million U.S. dollars, the Philippine central bank said Monday.

"While nonresidents' net equity capital investments rose, FDI declined due to increased debt repayments by resident corporations to their nonresident direct investors," the Bangko Sentral ng Pilipinas (BSP) said.

As a result of these higher debt repayments, the BSP said net foreign investments in debt instruments shifted to net outflows of 19 million dollars in December 2024 from net inflows of 618 million dollars in December 2023.

Additionally, the central bank said reinvestment of earnings fell by 14.7 percent to 80 million dollars from 94 million dollars.

Meanwhile, the BSP said nonresidents' net equity capital investments (other than earnings reinvestment) rose by 58 percent, reaching 49 million dollars from 31 million dollars in December 2023.

Equity capital placements in December 2024 came primarily from Singapore, Japan, the United States, and South Korea. These investments were mainly directed towards the information and communication; manufacturing; financial and insurance; construction; and real estate industries.

For the full year of 2024, FDI net inflows remained "broadly stable" and settled at 8.9 billion dollars, the BSP said. Enditem

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