The country posted net inflows of foreign investments in May at $43 million, after net outflows of $312 million in April, the Bangko Sentral ng Pilipinas (BSP) reported Friday.

The BSP said this was the result of gross inflows of $1.1 billion exceeding gross outflows of $1 billion coursed through authorized banks.

Breaking it down, gross inflows grew by 15.2 percent or $139 million as investments in equities of listed firms in the Philippine Stock Exchange represented the highest share at 65 percent.

Top industry-recipients were banking, holding firms, property, transportation services and mining.

Meanwhile, government-issued securities in the local currency accounted for 35 percent.

UK, US main sources

Investments mostly came from the United Kingdom, the United States, Singapore, Luxembourg and Norway.

Gross outflows, however, declined by 17.6 percent or $216 million month-on-month.

The US remained the top destination of outflows, with 57 percent share and  $575 million in total receipt.

From January to May, net inflows of foreign investments reached $108 million which was a reversal of the $805 million net outflows recorded in the same period of 2023.