7	DIRECT INVESTMENT
	in million U.S. dollars
							2008 p/				Q1				Growth Rate
		ITEM					Jan	Feb	Mar		2008		2007		2008	2007
	DIRECT INVESTMENT						128	183	209		520		1316		-60.5	241.8
		ASSETS :  Residents' Investments Abroad					21	11	-1		31		72		-56.9	125.0
		Equity  capital					21	11	-1		31		72		-56.9	125.0
			Claims on affiliated enterprises				21	11	-1		31		72		-56.9	125.0
			Liabilities to affiliated enterprises				n.a.	n.a.	n.a.		n.a.		n.a.		n.a.	n.a.
		Reinvested earnings					n.a.	n.a.	n.a.		n.a.		n.a.		n.a.	n.a.
		Other Capital					n.a.	n.a.	n.a.		n.a.		n.a.		n.a.	n.a.
			Claims on affiliated enterprises				n.a.	n.a.	n.a.		n.a.		n.a.		n.a.	n.a.
			Liabilities to affiliated enterprises				n.a.	n.a.	n.a.		n.a.		n.a.		n.a.	n.a.
		LIABILITIES : Non-residents' Investments					149	194	208		551		1388		-60.3	232.9
			in the Philippines
		Equity  capital					87	31	75		193		685		-71.8	164.5
			Claims on direct investors				0	0	0		0		0		0.0	0.0
			Liabilities to direct investors				87	31	75		193		685		-71.8	164.5
		Reinvested earnings					30	45	25		100		132		-24.2	10.0
			Claims				0	0	0		0		0		0.0	0.0
			Liabilities				30	45	25		100		132		-24.2	10.0
		Other Capital					32	118	108		258		571		-54.8	1402.6
			Claims on direct investors				22	-101	-109		-188		131		-243.5	-4.4
			Liabilities to direct investors				54	17	-1		70		702		-90.0	301.1
Note:   Balance is derived by deducting assets from liabilities.
	p/  - preliminary
	n.a. - data not available