* July net inflow $108 mln vs June's $73 mln
* Jan-July net inflow at $1 bln, up 80.5 pct on yr
MANILA, Oct 10 (Reuters) - The Philippine central bank released on Wednesday preliminary data on net foreign direct investments (FDIs) in July: July Jun May Apr Mar Feb Jan Net FDI (in $ mln) 108 73 7 -13 14 58 778 KEY POINTS:
- Net FDI inflows of $108 million in July compare with net outflows of $261 million in the same month last year.
- Net inflows in January to July totalled $1 billion, nearly twice the $568 million recorded last year, driven by higher equity capital investments.
- The increase in FDI inflows reflected foreign investor's growing optimism on the country's macroeconomic fundamentals, the central bank said in a statement.
- The bulk of the investments in July originated from the United States, Thailand and Japan, benefiting the manufacturing, real estate, mining and financial intermediation sectors.
- Net foreign direct investment, portfolio inflows and remittances from Filipinos working and living overseas help keep the country's balance of payments (BOP) in surplus.
- The Philippines posted a BOP surplus of $582 million in August, bringing the January-August surplus to 5.08 billion.
- The central bank has said it is reviewing its forecast of $2.6 billion for this year's balance of payments surplus, with the possible upward revision likely to be announced this month.
For details click on central bank website,
(Reporting by Karen Lema; Editing by Jijo Jacob)
Keywords: PHILIPPINES ECONOMY/FDI