Non-financial corporations contribute 50.7 percent to GDP in 2016

Reference No.: 2017-069
Released Date: 29 June 2017

The Philippine economy grew by 8.7 percent at current prices in 2016. Among the four institutional sectors, Non-financial corporations had the biggest contribution to the Gross Domestic Product (GDP) at 50.7 percent share. This was followed by Households including Non-Profit Institutions Serving Households (NPISH) at 34.7 percent; Financial corporations at 7.9 percent; and General government at 6.6 percent.

Net National Disposable Income amounted to Php 16.2 trillion in 2016, an increase of 8.4 percent from 2015. With Household Final Consumption Expenditure (HFCE) and Government Final Consumption Expenditure (GFCE) amounting to Php 10.7 trillion and Php 1.6 trillion, respectively, total Savings in 2016 was recorded at Php 3.9 trillion. This is higher by 7.5 percent as compared with 2015.

Savings which is derived as total income (receipts) less total use of income (disbursements) can be represented for each institutional sector. Highest share in savings came from Non-financial corporations at 56.9 percent.

This report came from the Consolidated Accounts and Income and Outlay Accounts compiled by the Philippine Statistics Authority (PSA) annually. The Consolidated Accounts present a summary of transactions and relationships among the various flows of the economy at current prices.  Included are four accounts of the economy which dwell on production, consumption, income, gross accumulation, and economic transactions with the rest of the world. On the other hand, the Income and Outlay Accounts are compiled for the four institutional sectors, namely, non-financial corporations, financial corporations, general government, and households including NPISH.

The publication on the 2016 Consolidated Accounts and Income and Outlay Accounts contains the series for the period 2014 to 2016.

 

 

LISA GRACE S. BERSALES, Ph.D. 
Undersecretary
National Statistician and Civil Registrar General

 

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