MANILA, Philippines (CORRECTED) - Foreign direct investments (FDI) rose 9.8% to $2.03 billion in 2012, from a revised level of $1.85 billion a year ago.

The full-year total exceeded the Bangko Sentral ng Pilipinas' forecast of $1.5 billion. 

"The country continued to benefit from strong foreign investors' confidence in the resilience of the domestic economy, given strong economic growth amid low and stable inflation, as well as strong external payments position," the BSP said. 

The net inflow stood at $20 million in December, a 1-year low. While the December figure was lower than $109 million in November 2012, it was a reversal of the $28 million net outflows in the same month of 2011. 

The bulk of the December investments came from the United States, Japan, and the Netherlands and went into sectors such as real estate, financial and insurance, electricity and gas, and manufacturing. 

Net foreign direct investment, portfolio inflows and remittances from Filipinos working and living overseas help keep the country's balance of payments in surplus. 

The Philippines ended 2012 with a balance of payments surplus of $9.24 billion, way above the central bank's forecast of a $6.8 billion BOP surplus.  - With Reuters