Table 1
	Foreign Direct Investment
	Balance of Payments and International Investment Position, 6th Edition (BPM6) Concept1
	in million US dollars; for periods indicated
		Levels																													Percent Change
		2023r													2024p, r													2023r	2024p, r		2024p
		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec		Jan-Dec			Dec	Jan-Dec
	Net Incurrence of Liabilities :
	Nonresident Investments in the Philippines	475	1,062	374	887	559	592	865	994	597	678	1,100	743		914	1,388	689	570	483	481	979	834	463	1,098	922	110		8,925	8,930		-85.2	0.1
	Equity and investment fund shares	181	146	-29	218	378	291	265	316	178	161	162	125		80	848	208	150	256	179	198	276	94	179	109	129		2,393	2,705		3.3	13.1
	Equity other than reinvestment of earnings, net	93	75	-104	132	275	114	142	69	94	74	86	31		-11	764	141	68	161	85	76	66	7	100	35	49		1,081	1,540		58.0	42.4
	Placements	149	114	116	158	368	134	158	250	188	101	115	229		99	857	157	84	174	99	135	103	82	122	71	185		2,080	2,168		-19.4	4.3
	Withdrawals	56	38	220	27	93	21	16	181	93	27	29	198		110	93	16	16	14	15	59	37	75	23	36	136		998	628		-31.5	-37.1
	Reinvestment of earnings	88	71	75	87	103	178	124	247	83	87	76	94		92	84	67	82	96	94	122	210	86	79	74	80		1,311	1,165		-14.7	-11.2
	Debt instruments, net2	294	916	404	668	180	301	600	677	420	517	938	618		833	540	481	420	227	302	781	558	369	919	813	-19		6,533	6,225		-103.1	-4.7
	1 The BSP statistics on FDI are compiled based on the Balance of Payments and International Investment Position Manual, 6th Edition (BPM6).  FDI includes (a) investment by a nonresident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent, and (b) investment made by a nonresident subsidiary/associate in its resident direct investor. Net FDI flows refer to nonresidents' net equity capital (i.e., placements less withdrawals) + reinvestment of earnings + debt instruments (i.e., net intercompany borrowings). The BSP FDI statistics are distinct from the investment data of other government sources. BSP FDI covers actual investment inflows. By contrast, the approved foreign investments data that are published by the Philippine Statistics Authority (PSA), which are sourced from Investment Promotion Agencies (IPAs), represent investment commitments, which may not necessarily be realized fully, in a given period. Further, the said PSA data are not based on the 10 percent ownership criterion under BPM6.  Moreover, the BSP’s FDI data are presented in net terms (i.e., equity capital placements less withdrawals), while the PSA’s foreign investment data do not account for equity withdrawals.
	2 Net investments in debt instruments consist mainly of intercompany borrowing/lending between foreign direct investors and their subsidiaries/affiliates in the Philippines. The remaining portion of net investments in debt instruments are investments made by nonresident subsidiaries/associates in their resident direct investors, i.e., reverse investment.
	Details may not add up to total due to rounding.
	r revised
	P preliminary