MANILA - Foreign direct investments (FDI) recorded net inflows of $53 million in November 2011, 82.6% lower than the year-ago figure of $304 million, according to data from the Bangko Sentral ng Pilipinas (BSP).

From January to November 2011, net FDI inflow stood at $782 million, 38.5% lower than the same period in the previous year.

In a statement, the BSP said the November FDI data reflected weaker investor sentiment due to lingering concerns over the eurozone sovereign debt crisis.

Net equity capital inflows of $134 million in the 11 months to November 2011 were down nearly 72% from a year earlier.   

The bulk of the investments originated from the United States, Hong Kong, Japan, South Korea and Singapore. Sectors that benefited from the investments were manufacturing, real estate, mining and quarrying, utilities, wholesale and retail trade and financial.

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.   

Net portfolio inflows in 2011 reached $4.1 billion, down 11.5 percent from 2010.

The Philippines recorded a balance of payments surplus of $10.18 billion in 2011, above official estimates. The surplus was expected to narrow to $2.8 billion, or 1.1 percent of GDP, this year. - With Reuters