The Philippines total gross savings climbed to P6.60 trillion in 2023 from P4.9 trillion of 2022, the Philippine Statistics Authority said Friday.
Non-financial corporations led the growth with savings of P4.52 trillion, followed by financial corporations at P1.71 trillion. Non-profit institutions serving households and the general government registered savings of P219.41 billion and P152.26 billion, respectively.
Gross operating surplus had highest share of 7.3 percent in 2023. This was followed by compensation of employees at 35.5 percent and taxes less subsidies on production and imports at 7.2 percent.
The Philippines gross national disposable income also surged to P28.67 trillion in 2023, reflecting a 15.0 percent growth from 2022.
The PSA said the data came from the recently released Consolidated Accounts and Income and Outlay (CAIO).