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Foreign direct investment at $509 million in December, full year down to $6.5 billion: BSP
Foreign direct investment at $509 million in December, full year down to $6.5 billion: BSP
ABS-CBN News
Published Mar 11, 2021 11:09 AM PHT
A view of the buildings at the Makati Central Business District on March 4, 2021. George Calvelo, ABS-CBN News/File
MANILA - The Philippines booked a lower foreign direct investment inflows in December 2020, pushing the full year total to contract by 24.6 percent, the Bangko Sentral ng Pilipinas said.
The $509 million (P24.7 billion) net inflows in December 2020 is 62.6 percent lower compared to $1.4 billion net inflows recorded in the December 2019, it said.
For the entire 2020, FDi net inflows totaled $6.5 billion, 24.6 percent lower compared to $8.7 billion in 2019, the BSP said in a statement.
"The disruptive impact of the pandemic on global supply chains and the weak business outlook adversely affected investor decisions in 2020," the central bank said.
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