菲律宾综合股价指数 (PSEi) 加自选

2025年7月，菲律宾的外国直接投资净额（FDI）同比下降7.5%，至13亿美元。减少的主要原因是债务工具大幅下降（-39.4%）。与此同时，股本净流入（240.6%）和收益再投资（14.3%）的小幅增长缓和了这一减少。本月股本配售主要来自日本（60%）、美国（15%）和新加坡（5%），投资主要集中在批发和零售贸易（73%）、制造业（12%）和房地产（8%）。考虑到2025年前七个月，外国直接投资净额达到47亿美元，比上年同期大幅下降20%。

Net foreign direct investment (FDI) in the Philippines dropped by 7.5% year-on-year to USD 1.3 billion in July 2025. The decrease was mainly driven by a significant decline in debt instruments (-39.4%). Meanwhile, the reduction was tempered by a sharp increase recorded from net inflows in equity capital (240.6%) and a modest gain in reinvestment of earnings (14.3%). Equity capital placements during the month mainly originated from Japan (60%), the United States (15%), and Singapore (5%), with investments directed largely toward wholesale and retail trade (73%), manufacturing (12%), and real estate (8%). Considering the first seven months of 2025, net FDI reached USD 4.7 billion, sharply lower by 20% compared with the corresponding period of the previous year.

10月份，菲律宾比索兑美元汇率跌至58.3美元左右，在Bangko Sentral ng Pilipinas出人意料地降息25个基点后，收回了最近的涨幅。政策制定者表示，做出这一决定是因为通胀仍在目标范围内，预期稳定，尽管可能的电价和大米关税上调可能会增加压力。货币委员会还强调，由于商业情绪低迷以及对治理和基础设施实施的担忧，国内增长疲软。对腐败和社会动荡的持续担忧进一步加剧了人民币的下行压力。总统最近任命了一名前最高法院法官，领导对基础设施项目涉嫌贪污的调查，特别是在最近的台风中失败的防洪系统，而9月下旬的抗议活动和与警方的冲突增加了市场的不确定性。

The Philippine peso weakened to around $58.3 per dollar in October, giving back recent gains after a surprise 25-basis-point rate cut by the Bangko Sentral ng Pilipinas. Policymakers said the decision was made as inflation remains within target and expectations are stable, though possible electricity rate and rice tariff hikes could add pressure. The Monetary Board also highlighted weaker domestic growth amid subdued business sentiment and concerns over governance and infrastructure implementation. Adding further downward pressure on the currency were ongoing concerns over corruption and social unrest. The president recently appointed a former Supreme Court justice to lead a probe into alleged graft in infrastructure projects, particularly flood control systems that failed during recent typhoons, while late-September protests and clashes with police added to market uncertainty.

菲律宾央行在2025年10月的会议上将基准利率下调25个基点至4.75%，打破了市场对5%的预期。此举使利率降至2022年10月以来的最低水平，因为央行表示通胀前景良好，价格增长完全在官方目标范围内，通胀预期保持稳定。然而，潜在的电价调整和大米进口关税上调可能会给价格带来上行压力。与此同时，货币委员会强调，国内增长前景疲软，部分原因是对治理和公共基础设施项目实施的担忧导致商业情绪低落。此外，需求疲软的迹象反映了外部环境的持续不确定性。央行隔夜存贷款利率也分别下调至4.25%和5.25%。

The Central Bank of the Philippines cut its benchmark interest rate by 25 bps to 4.75% during its October 2025 meeting, defying market expectations of a hold at 5%. This move brought the rate to its lowest level since October 2022, as the central bank cited a benign inflation outlook, with price growth well within the official target range and inflation expectations remaining firmly anchored. However, potential electricity rate adjustments and tariff hikes on rice imports could add upward pressure on prices. Meanwhile, the Monetary Board highlighted a weakening domestic growth outlook, partly due to dampened business sentiment stemming from concerns over governance and the implementation of public infrastructure projects. Additionally, signs of softening demand reflect persistent uncertainties in the external environment. The central bank’s overnight deposit and lending facility rates were also lowered to 4.25% and 5.25%, respectively.

菲律宾的失业率从去年同期的4%降至2025年8月的3.9%。失业人数从2024年8月的207万人减少到203万人，而就业总人数从4915万人增加到5010万人。在主要工业部门中，服务业的就业人数仍然最多，占总就业人口的61.5%，其次是农业，占20.4%，工业占18.1%。与此同时，劳动力参与率从一年前的64.8%上升到65.1%，表明更多15岁及以上的菲律宾人活跃在劳动力市场上。平均而言，就业人员每周工作41.0小时，高于一年前同期的40.7小时。

The unemployment rate in the Philippines edged down to 3.9% in August 2025 from 4% in the same month a year earlier. The number of unemployed individuals decreased to 2.03 million from 2.07 million in August 2024, while the total number of employed persons increased to 50.1 million from 49.15 million. Among major industry sectors, the services sector remained the largest in terms of employment, accounting for 61.5% of the total employed population, followed by agriculture at 20.4% and industry at 18.1%. Meanwhile, the labor force participation rate went up to 65.1% from 64.8% a year earlier, indicating more Filipinos aged 15 and over were active in the labor market On average, employed individuals worked 41.0 hours per week, higher than the 40.7 hours recorded in the corresponding month a year ago.