Xinhua
31 Jul 2024, 23:15 GMT+10
MANILA, July 31 (Xinhua) -- The Philippines' foreign investments yielded net outflows of 27 million U.S. dollars in June, the country's central bank said Wednesday.
The Bangko Sentral ng Pilipinas (BSP) said the foreign investment transactions in June resulted from the gross outflows of 1.1 billion dollars and the gross inflows of 1 billion dollars for the month, a reversal from the 43 million dollars net inflows in May.
Last month's 1 billion dollars in registered investments are compared to the 1.1 billion dollars recorded in May.
The majority of investments for June came from Britain, the United States, Singapore, Luxembourg, and Switzerland, with a combined share of 86.9 percent.
Furthermore, the gross outflows for June were 6 percent higher than in May. The United States remained the top destination of outflows, receiving 597 million dollars or 55.8 percent of the total outward remittances.
Registered investments in June are 17.2 percent higher than the 889 million dollars recorded a year earlier, while gross outflows increased by 20.3 percent from June 2023.
"The 27 million dollars net outflows for June 2024 were a reversal from the less than 1 million dollars net inflows recorded for the same period a year ago," the BSP added.
Get a daily dose of Philippine Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philippine Times.
More InformationCAPE TOWN, South Africa: The U.S. Embassy in South Africa said it received a list of over 67,000 people interested in refugee status...
RALEIGH, North Carolina: North Carolina's highest court has ruled that a mother and her teenage son can pursue a lawsuit over a COVID-19...
WEST PALM BEACH, Florida: City officials in Fort Myers, Florida, voted last week to approve a new agreement allowing local police to...
WASHINGTON, D.C.: With flight delays rising and aviation safety under scrutiny, the U.S. government is preparing a sweeping modernization...
WASHINGTON, D.C.: The U.S. National Transportation Safety Board (NTSB) has called for urgent safety checks on 68 bridges, including...
WASHINGTON, D.C.: U.S. Interior Secretary Doug Burgum has announced plans to open more land for oil and gas drilling in Alaska and...
BEIJING, China: As global tech firms navigate rising geopolitical tensions, China has extended a warm signal to Apple, one of its most...
NEW YORK, New York - Shares in automakers fell sharply Thursday after U.S.President Donald Trump imposed a 25 percent tariff on all...
WASHINGTON, D.C.: Federal safety regulators have launched a new investigation into Ford's best-selling F-150 pickup trucks after receiving...
WASHINGTON, D.C.:/SEOUL: Hyundai Motor Group is set to dramatically expand its U.S. footprint, with a US$20 billion investment that...
STANSTEAD, Quebec: U.S. authorities have decided to end a long-standing unwritten rule that allowed people from Stanstead, Quebec,...
NEW YOKK, New York - U.S. stocks fell sharply Wednesday with tech stocks, mainly those associated with AI, taking the brunt of the...
