Compensation of employees in Philippines
Philippines: Compensation of employees was 1.53 trillion current LCU in 2024. ◆ Volatile
Compensation of employees in Philippines, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, compensation of employees in Philippines stood at 1.53 trillion current LCU. That is the highest value across all 34 years on record.
Compared with earlier readings it is up 6.3% on the previous year and up 153.2% over ten years.
Over the whole period, compensation of employees in Philippines peaked at 1.53 trillion current LCU in 2024 and was at its lowest, 62.18 billion current LCU, in 1990.
Philippines ranks 28th of 156 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 105.30 billion current LCU | 62.18 billion current LCU | 172.89 billion current LCU | 9 |
| 2000s | 306.74 billion current LCU | 225.18 billion current LCU | 432.02 billion current LCU | 10 |
| 2010s | 699.61 billion current LCU | 469.40 billion current LCU | 1.12 trillion current LCU | 10 |
| 2020s | 1.36 trillion current LCU | 1.18 trillion current LCU | 1.53 trillion current LCU | 5 |
Countries ranked near Philippines
More public sector data for Philippines
- Arms imports 238.00 million SIPRI trend indicator values (2024)
- Tax revenue 14.4% (2024)
- Taxes on income, profits and capital gains 34.7% (2024)
- Taxes on goods and services 25.3% (2024)
- Net investment in nonfinancial assets 5.0% (2024)
- Net lending (+) / net borrowing (-) -5.7% (2024)
- Interest payments 17.3% (2024)
- Grants and other revenue 13.9% (2024)
- Interest payments 15.3% (2023)
- Other taxes 5.3% (2024)
Frequently asked questions
- What is compensation of employees in Philippines?
- Compensation of employees in Philippines was 1.53 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in Philippines?
- The highest recorded value was 1.53 trillion current LCU in 2024.
- What is the lowest compensation of employees recorded in Philippines?
- The lowest recorded value was 62.18 billion current LCU in 1990.
- How does Philippines rank for compensation of employees?
- Philippines ranks 28th out of 156 countries with data for 2024.
- Is compensation of employees rising or falling in Philippines?
- Over the last ten years it is up 153.2%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Compensation of employees (current LCU). Statizoid updates them automatically from the source API.
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About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.