Foreign direct investments (FDI) net inflows amounted to $6.7 billion in the first nine months of the year, the Bangko Sentral ng Pilipinas (BSP) said.

Data released by the BSP on Tuesday showed that the net inflows during the month was higher by 3.8 percent from the $6.4 billion in January to September last year.

FDIs include investment by a non-resident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent, and investment made by a non-resident subsidiary or associate in its resident direct investor.

The BSP said an FDI can be in the form of equity capital, reinvestment of earnings, and borrowings.

Top country sources were the United Kingdom, Japan, the United States, and Singapore.

These were channeled mainly to manufacturing, real estate, and wholesale and retail trade.

For September alone, FDI net inflows declined by 36.2 percent to $368 million from $577 million in the same month last year.

"The downturn in FDI net inflows in September 2024 was due largely to the 32.8 percent decline in nonresidents’ net investments in debt instruments to $277 million from $413 million," the BSP said.

The BSP said nonresidents’ net investments in equity capital (other than reinvestment of earnings) also fell by 91.2 percent to $7 million from $83 million.

This was, however, mitigated slightly by the 3.6 percent growth in nonresidents’ reinvestment of earnings to $84 million from $81 million in September 2023.

Bulk of the equity capital placements in September 2024 were from Japan, the United States, and Singapore.

The investments mainly went to manufacturing, real estate, information and communication, and wholesale and retail trade industries.