MANILA – Non-financial corporations continued to account for the highest share in the country’s gross domestic product (GDP) at 50.4 percent last year, the Philippine Statistics Authority (PSA) reported.
The PSA said households, including non-profit institutions serving households (NPISH), followed at 34.5 percent; financial corporations at 8.1 percent; and general government at 6.9 percent.
Total savings grew by 9.8 percent to P4.2 trillion last year.
Net national disposable income rose by 9.2 percent to P17.6 trillion at current prices, while household final consumption expenditure and government final consumption expenditure amounted to P11.6 trillion and P1.8 trillion, respectively.
The highest share in savings came from non-financial corporations at 58.4 percent.
This was followed by financial corporations at 28.9 percent; general government at 9.2 percent; and households, including NPISH, at 3.5 percent.
The report came from the consolidated accounts and income as well as outlay accounts compiled by the PSA annually.
The income and outlay accounts are compiled for the four institutional sectors, namely non-financial corporations, financial corporations, general government, and households, including NPISH.
Non-financial corporations are defined as those whose principal activity is the production of market goods or non-financial services. (PNA)
