Foreign direct investment (FDI) net inflows into the Philippines has reached 608 million U.S. dollars in February, 2.2 percent lower than the amount recorded in the same period last year, the Philippine central bank said on Tuesday.

This slight decline emanated mainly from the 88.3 percent drop in non-residents' net investments in equity capital to 20 million U.S. dollars in February, the Bangko Sentral ng Pilipinas (BSP) said.

These were invested mainly in the manufacturing; real estate; wholesale and retail trade; financial and insurance; and electricity, gas, steam, and air-conditioning supply industries, the BSP added.

Despite the decline in February, the BSP said the FDI net inflows in the first two months this year were higher by 20.6 percent at 1.6 billion U.S. dollars compared with the amount reported in the same period in 2020.

"This was due mainly to the 67.7 percent expansion in non-residents' net investments in debt instruments to 1.1 billion U.S. dollars from 626 million U.S. dollars," the BSP said.