MANILA — Gross savings in the Philippines increased by 9.3 percent in 2025, reaching PHP8.40 trillion from PHP7.68 trillion in the previous year, according to data released by the Philippine Statistics Authority (PSA).

Gross savings represent the difference between gross national disposable income and the combined final consumption expenditures of households and government.

PSA data showed that non-financial corporations accounted for the largest share of savings among institutional sectors, posting PHP5.16 trillion.

Financial corporations registered gross savings of PHP2.29 trillion, while households, including non-profit institutions serving households, recorded PHP973.14 billion.

In contrast, the general government posted a dissaving of PHP23.61 billion during the year.

The PSA also reported that gross national disposable income rose by 7.5 percent to PHP34.04 trillion in 2025.

Household final consumption expenditure amounted to PHP21.40 trillion, while government final consumption expenditure reached PHP4.24 trillion.

In a Viber message, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the rise in savings may have been partly influenced by slower investment activity and weaker economic growth both domestically and globally.

He noted that higher tariffs imposed by US President Donald Trump contributed to economic uncertainty, prompting investors to take a cautious approach.

Ricafort said more funds may have been directed toward savings as investors adopted a wait-and-see stance amid heightened volatility in local and international financial markets in 2025.

“Other factors would be increased financial literacy that put greater importance on the value of savings and investing to prepare for the future, as well as reflective of an increasing number of Filipinos entering the workforce, resulting in more incomes and savings,” he said.