Gross Domestic Product by Income

The country’s Gross Domestic Product (GDP) in 2022 registered a value of PhP 22.02 trillion at current prices, which grew by 13.5 percent during the period.

Among the factors of production, the Gross operating surplus recorded the highest share to the total economy in 2022 at 55.8 percent. This was followed by Compensation of employees with 36.4 percent, and Taxes less subsidies on production and on imports with 7.8 percent share.
(Table A and Figure 1)

Figure 1. Percent Share of Gross Value Added Components to GDP,
2020 to 2022, At Current Prices

GDP by Institutional Sector

Gross operating surplus had the highest share among the factors of production of the following institutional sectors: Households including Non-profit institutions serving households (NPISHs) with 71.5 percent, Financial corporations with 61.2 percent, and Non-financial corporations with 53.5 percent.

For the General government, the Compensation of employees had the highest share among the factors of production at 91.5 percent. (Table J and Figure 2)

Figure 2. Percent Share of Factors of Production by Institutional Sector,
2022, At Current Prices

Gross National Disposable Income

The country’s Gross national disposable income in 2022 was valued at PhP 24.93 trillion at current prices, which grew by 15.9 percent during the period. (Figure 3)

The Gross operating surplus from resident producers, which was valued at PhP 12.30 trillion, had the highest share to the National disposable income. This was followed by Compensation of employees, Taxes less subsidies on production and on imports, and Net current transfers from the Rest of the World (ROW) which were valued at PhP 9.47 trillion, PhP 1.71 trillion, and PhP 1.61 trillion, respectively.

Meanwhile, Net property income was recorded at PhP -0.15 trillion during the said period. (Table B)

Figure 3. National Disposable Income,
2020 to 2022, At Current Prices

Gross National Saving

The country’s total saving reached PhP 4.90 trillion, with an annual growth of 26.6 percent in 2022. This was higher than the total saving registered at PhP 3.87 trillion in 2021 and at PhP 4.43 trillion in 2020. (Table B and Figure 4)

Figure 4. Gross National Saving,
2020 to 2022, At Current Prices

In terms of the gross saving by institutional sector, the gross saving of Non-financial corporations and Financial corporations reached PhP 4.16 trillion and PhP 1.54 trillion, respectively. Meanwhile, the General government and Households including NPISHs recorded dissaving of PhP -0.009 trillion and -0.79 trillion, respectively. (Table C and Figure 5)

Figure 5. Gross Saving by Institutional Sector,
2020 to 2022 Levels, At Current Prices