Manila: Total gross savings in the country rose by 9.3 percent to PHP8.40 trillion last year from PHP7.68 trillion in 2024, according to the latest data from the Philippine Statistics Authority (PSA). Gross savings refer to the difference between gross national disposable income and the combined household and government final consumption expenditure.

According to Philippines News Agency, data released by the PSA on Thursday showed that among the institutional sectors, non-financial corporations recorded the highest savings at PHP5.16 trillion. Financial corporations followed with gross savings of PHP2.29 trillion, while households, including non-profit institutions serving households, posted PHP973.14 billion in savings. Meanwhile, the PSA reported that the general government recorded a dissaving of PHP23.61 billion.

Last year, gross national disposable income reached PHP34.04 trillion, up 7.5 percent from the previous year. 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 increase in the country's savings may partly reflect slower investment activity and weaker global and domestic economic growth, partly due to higher tariffs imposed by US President Donald Trump. Ricafort said that as a result, more funds were channeled into savings as investors adopted a wait-and-see stance amid heightened volatility in global and local 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.