Net inflows of foreign direct investments (FDI) went down by 2.2 percent to $608 million in February from $621 million a year ago, the Bangko Sentral ng Pilipinas (BSP) said.

In a report on Monday, the BSP said the decline was due to the 88.3-percent drop in non-residents’ net investments in equity capital to $20 million from $175 million a year ago as equity capital placements decreased by 62.1 percent to $89 million year-on-year, and withdrawals rose by 13.6 percent to $69 million from $61 million.