Goods and services expense in Philippines
Philippines: Goods and services expense was 1.09 trillion current LCU in 2024. ◆ Volatile
Goods and services expense in Philippines, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Philippines recorded 1.09 trillion current LCU for goods and services expense in 2024. That is the highest value across all 34 years on record.
Compared with earlier readings it is up 18.4% on the previous year and up 251.5% over ten years.
Over the whole period, goods and services expense in Philippines peaked at 1.09 trillion current LCU in 2024 and was at its lowest, 30.21 billion current LCU, in 1990.
That places Philippines 28th out of 155 countries with data for 2024, putting it 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 | 63.59 billion current LCU | 30.21 billion current LCU | 142.13 billion current LCU | 9 |
| 2000s | 98.88 billion current LCU | 64.10 billion current LCU | 187.50 billion current LCU | 10 |
| 2010s | 361.88 billion current LCU | 182.10 billion current LCU | 572.92 billion current LCU | 10 |
| 2020s | 929.88 billion current LCU | 879.40 billion current LCU | 1.09 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 goods and services expense in Philippines?
- Goods and services expense in Philippines was 1.09 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest goods and services expense recorded in Philippines?
- The highest recorded value was 1.09 trillion current LCU in 2024.
- What is the lowest goods and services expense recorded in Philippines?
- The lowest recorded value was 30.21 billion current LCU in 1990.
- How does Philippines rank for goods and services expense?
- Philippines ranks 28th out of 155 countries with data for 2024.
- Is goods and services expense rising or falling in Philippines?
- Over the last ten years it is up 251.5%. 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 Goods and services expense (current LCU). Statizoid updates them automatically from the source API.
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CSV · JSON — 34 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. 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.