National Accounts

Financial balance sheet of Total Economy, reference 2018 (billions of pesos)
Sel. Serie I.2013 II.2013 III.2013 IV.2013 I.2014 II.2014 III.2014 IV.2014 I.2015 II.2015 III.2015 IV.2015 I.2016 II.2016 III.2016 IV.2016 I.2017 II.2017 III.2017 IV.2017 I.2018 II.2018 III.2018 IV.2018 I.2019 II.2019 III.2019 IV.2019 I.2020 II.2020 III.2020 IV.2020 I.2021 II.2021 III.2021 IV.2021 I.2022 II.2022 III.2022 IV.2022 I.2023 II.2023 III.2023 IV.2023 I.2024 II.2024 III.2024 IV.2024 I.2025 II.2025 III.2025 IV.2025
I. Outstanding financial assets 900,980 910,321 920,539 944,776 976,291 1,002,686 1,048,955 1,073,914 1,100,117 1,114,811 1,141,314 1,168,758 1,189,522 1,205,664 1,226,932 1,237,387 1,261,757 1,281,217 1,293,600 1,313,445 1,322,611 1,338,851 1,358,440 1,376,881 1,415,616 1,451,331 1,506,905 1,537,729 1,520,503 1,592,220 1,576,716 1,592,241 1,632,430 1,652,418 1,706,267 1,746,205 1,735,710 1,809,962 1,815,533 1,832,002 1,832,328 1,856,272 1,899,074 1,949,289 2,036,592 2,000,586 2,025,467 2,068,770 2,094,256 2,155,034 2,232,549 2,270,427
      Monetary gold and SDRs, assets 564 564 575 606 640 640 670 661 650 671 761 755 521 508 505 492 493 506 493 480 482 499 505 530 517 518 542 564 635 538 529 503 496 439 2,531 2,990 2,478 3,031 3,012 2,819 2,603 2,697 3,023 2,980 3,387 3,303 3,165 3,406 3,303 3,380 3,422 3,187
      Currency and deposits, assets 105,676 111,100 111,951 116,028 117,494 114,224 119,101 130,101 127,068 126,703 132,568 141,018 140,251 141,421 138,885 146,551 139,570 138,615 137,913 142,922 139,966 142,840 143,663 153,301 144,161 148,868 153,359 171,398 191,685 191,037 199,685 202,504 199,153 214,459 222,601 211,075 221,641 209,284 212,957 211,003 209,572 209,939 212,056 226,013 247,859 232,931 222,345 230,005 221,834 224,804 225,995 229,540
            Currency and transferable deposits, assets 34,545 36,192 36,349 39,885 39,683 38,654 39,635 46,911 44,903 45,623 46,599 52,836 50,516 51,268 49,001 54,194 51,849 51,590 51,417 56,231 55,389 55,373 54,992 59,889 56,111 59,927 62,277 73,055 83,086 95,306 111,516 118,700 118,459 130,622 125,373 120,976 131,138 108,482 104,160 99,349 95,571 93,654 93,700 105,940 121,012 109,521 97,256 104,151 97,873 97,455 99,158 102,567
            Other deposits, assets 71,131 74,908 75,603 76,143 77,811 75,570 79,466 83,190 82,164 81,080 85,969 88,182 89,735 90,153 89,884 92,357 87,721 87,025 86,496 86,691 84,577 87,467 88,671 93,412 88,050 88,941 91,082 98,342 108,600 95,730 88,169 83,804 80,694 83,837 97,228 90,098 90,503 100,802 108,797 111,654 114,001 116,285 118,357 120,073 126,846 123,411 125,089 125,853 123,961 127,349 126,837 126,974
      Securities other than shares, assets 100,528 101,005 103,658 106,054 111,025 117,553 122,677 123,578 125,963 131,312 140,337 137,563 143,310 148,381 156,003 155,622 162,613 167,928 162,482 159,530 161,765 166,708 169,654 173,602 181,234 191,704 207,952 196,881 200,655 226,947 222,722 218,028 218,262 217,644 224,236 230,186 214,173 255,431 242,016 250,999 251,194 259,015 265,426 266,491 265,996 254,782 270,601 268,673 273,058 281,497 287,238 282,375
            Short-term debt securities, assets 5,881 5,397 5,644 4,701 6,442 7,156 7,651 5,382 7,247 7,658 8,117 6,015 8,746 8,991 9,936 8,460 9,889 11,043 9,507 8,809 10,015 11,039 11,324 10,462 13,618 12,906 13,386 14,041 12,036 29,954 33,038 30,347 33,661 43,076 50,301 50,863 35,459 58,085 49,381 48,162 51,430 55,015 58,487 49,440 41,211 34,320 33,103 30,508 34,770 36,544 35,855 32,094
            Long-term debt securities, assets 94,647 95,608 98,014 101,354 104,584 110,397 115,026 118,195 118,716 123,654 132,220 131,547 134,564 139,390 146,067 147,162 152,724 156,885 152,975 150,721 151,750 155,669 158,330 163,141 167,615 178,798 194,566 182,840 188,620 196,993 189,684 187,682 184,600 174,568 173,935 179,323 178,715 197,346 192,635 202,837 199,765 204,000 206,939 217,051 224,785 220,461 237,498 238,165 238,287 244,953 251,383 250,280
      Financial derivatives, assets -112 -300 -172 131 92 112 99 252 -199 -164 -1,027 -582 -630 -456 -321 249 251 217 336 584 797 389 698 388 548 824 -277 20 -2,903 -1,648 -536 1,038 628 506 -545 -733 -1,393 -2,065 -2,794 191 626 240 -1,355 878 -520 352 3,339 -1,901 514 1,995 2,565 2,579
      Loans, assets 118,630 123,426 125,739 128,411 131,368 134,611 138,793 142,621 145,741 149,975 163,316 165,829 166,327 168,718 171,130 174,808 176,220 179,966 180,528 183,108 186,167 183,771 188,167 194,002 196,825 200,139 206,854 212,919 223,634 242,029 245,057 241,555 246,803 257,236 265,533 273,910 277,009 291,872 299,887 299,557 299,278 301,665 309,063 312,209 319,957 301,893 290,563 300,227 301,051 306,307 310,084 308,723
            Short-term loans, assets 14,048 16,112 16,018 15,774 16,007 15,992 16,447 16,809 17,303 17,692 18,518 18,440 18,025 18,237 18,033 18,240 17,699 18,996 17,740 18,289 18,317 19,089 19,691 20,712 20,799 21,281 22,273 23,227 25,115 37,846 39,618 37,902 39,002 46,114 46,721 48,504 49,013 53,136 54,302 53,518 52,891 54,532 56,991 56,053 58,001 40,903 29,342 31,427 29,983 33,098 33,018 30,312
            Long-term loans, assets 104,581 107,315 109,721 112,636 115,361 118,620 122,346 125,812 128,438 132,283 144,798 147,389 148,302 150,481 153,097 156,567 158,521 160,970 162,787 164,819 167,850 164,681 168,476 173,290 176,026 178,858 184,581 189,692 198,518 204,183 205,439 203,653 207,801 211,122 218,812 225,406 227,996 238,736 245,585 246,039 246,387 247,133 252,071 256,156 261,956 260,991 261,221 268,800 271,069 273,209 277,065 278,410
      Shares and other equity, assets 357,030 353,332 352,622 360,234 371,803 384,117 404,539 407,806 419,093 420,513 420,598 426,406 432,775 436,508 444,028 446,099 457,998 464,036 478,681 486,456 487,930 499,831 507,035 506,728 521,000 525,104 539,494 543,127 511,092 530,452 519,439 526,506 558,023 555,055 575,010 596,758 583,303 605,946 609,480 594,678 588,893 603,403 632,982 643,852 690,211 690,578 697,964 727,972 737,106 763,333 807,901 832,543
            Shares, excluding mutual funds shares, assets 307,972 304,787 302,932 306,336 314,253 322,094 337,039 339,780 345,262 344,631 345,918 351,019 357,293 359,798 362,543 366,691 372,071 372,527 383,095 389,617 386,029 395,167 399,129 403,918 408,766 406,125 415,918 416,060 393,258 396,603 386,178 392,026 415,729 413,947 427,490 446,017 453,508 474,191 481,181 472,107 467,046 479,148 497,814 506,259 534,979 532,408 533,539 556,629 564,203 579,339 609,544 632,783
            Money market fund shares 11,852 12,638 12,883 13,071 13,813 13,204 14,190 14,745 14,661 14,861 15,186 15,090 16,184 16,117 15,987 16,204 17,816 17,753 18,092 16,742 18,965 19,180 19,236 18,330 20,198 21,508 22,114 24,989 28,330 30,699 29,186 27,438 27,658 26,899 27,673 26,440 24,891 26,622 26,945 25,842 26,896 29,250 33,796 34,989 39,390 42,182 43,232 43,878 43,919 46,641 44,554 42,645
             Other investment fund shares 37,205 35,907 36,807 40,827 43,737 48,819 53,310 53,282 59,171 61,021 59,494 60,297 59,298 60,593 65,498 63,203 68,111 73,756 77,494 80,097 82,936 85,485 88,669 84,480 92,036 97,472 101,463 102,078 89,505 103,150 104,075 107,042 114,637 114,210 119,847 124,301 104,905 105,133 101,353 96,729 94,951 95,004 101,371 102,604 115,843 115,987 121,193 127,465 128,984 137,353 153,803 157,114
      Pension funds, assets 83,024 83,286 85,838 89,203 93,280 98,022 102,798 105,280 109,808 110,747 111,569 114,899 116,009 116,942 122,553 122,712 129,945 132,750 134,880 136,442 137,606 138,957 142,611 142,219 149,988 157,359 166,607 169,604 153,579 173,279 161,522 160,345 159,697 148,105 147,427 152,745 146,505 153,940 152,393 160,846 160,530 164,072 164,875 177,543 187,955 185,000 199,399 197,249 201,556 212,162 227,176 231,967
      Insurance technical reserves, assets 21,473 21,885 22,492 23,112 23,783 24,696 25,348 26,267 26,726 27,745 28,727 29,599 30,293 31,279 32,180 32,901 33,665 34,528 35,086 35,778 36,536 37,336 38,190 39,015 39,737 40,897 41,677 42,294 42,710 42,966 42,889 43,539 43,936 43,700 44,435 46,023 46,976 49,347 51,475 53,012 54,125 55,506 56,314 57,844 59,134 60,415 61,132 62,771 64,277 66,016 67,086 68,406
            Life insurance entitlements, assets 20,642 21,027 21,607 22,206 22,839 23,699 24,325 25,210 25,661 26,634 27,571 28,448 29,172 30,134 31,025 31,715 32,461 33,278 33,826 34,491 35,225 36,008 36,839 37,606 38,296 39,423 40,218 40,716 41,134 41,481 41,445 42,021 42,406 42,192 42,832 44,267 45,121 47,387 49,391 50,855 51,987 53,388 54,134 55,645 56,894 58,207 58,882 60,455 61,939 63,659 64,771 66,077
            Reserves for premiums and claims, assets 831 858 886 906 944 997 1,023 1,057 1,065 1,111 1,157 1,152 1,121 1,145 1,155 1,185 1,204 1,250 1,260 1,287 1,311 1,328 1,351 1,409 1,440 1,474 1,459 1,578 1,576 1,485 1,444 1,518 1,531 1,507 1,603 1,756 1,855 1,960 2,084 2,156 2,139 2,118 2,180 2,199 2,240 2,209 2,250 2,316 2,338 2,357 2,316 2,328
      Other accounts receivable 114,168 116,023 117,834 120,998 126,806 128,710 134,929 137,349 145,267 147,310 144,465 153,271 160,666 162,363 161,970 157,954 161,003 162,671 163,202 168,144 171,363 168,521 167,917 167,095 181,607 185,919 190,697 200,922 199,416 186,621 185,409 198,223 205,432 215,275 225,038 233,250 245,018 243,176 247,107 258,898 265,508 259,736 256,691 261,479 262,613 271,331 276,960 280,368 291,558 295,542 301,082 311,109
II. Net Financial Assets (I-III) -16,963 -16,299 -16,025 -13,014 -13,562 -13,608 -14,985 -16,036 -18,131 -17,020 -24,611 -22,891 -25,783 -25,912 -25,037 -25,237 -27,510 -25,888 -30,085 -31,853 -33,547 -34,347 -36,903 -41,743 -39,131 -37,676 -41,449 -32,528 -34,493 -30,902 -26,214 -22,124 -25,461 -18,034 -21,678 -20,969 -37,102 -35,157 -50,426 -52,648 -48,865 -51,634 -53,681 -55,690 -49,911 -53,717 -54,658 -57,296 -63,817 -61,993 -61,320 -65,262
III. Outstanding liabilities 917,943 926,619 936,564 957,790 989,853 1,016,293 1,063,940 1,089,950 1,118,248 1,131,831 1,165,925 1,191,649 1,215,306 1,231,576 1,251,969 1,262,623 1,289,267 1,307,105 1,323,685 1,345,298 1,356,158 1,373,198 1,395,343 1,418,623 1,454,747 1,489,007 1,548,354 1,570,257 1,554,996 1,623,122 1,602,930 1,614,365 1,657,891 1,670,453 1,727,944 1,767,174 1,772,813 1,845,119 1,865,959 1,884,650 1,881,193 1,907,906 1,952,755 2,004,979 2,086,503 2,054,303 2,080,125 2,126,065 2,158,073 2,217,027 2,293,869 2,335,689
      Currency and deposits, liabilities 93,198 97,290 98,207 102,605 102,515 99,768 102,891 112,008 110,135 110,422 114,283 122,243 122,405 122,552 120,735 127,305 122,875 123,412 124,928 130,291 129,237 130,724 132,348 139,742 133,861 137,400 140,521 155,322 169,022 171,222 177,550 184,766 181,551 192,720 192,386 186,991 200,907 185,884 189,751 193,984 191,381 190,617 188,797 202,329 219,423 206,349 196,881 201,903 197,752 201,487 201,933 206,235
            Currency and transferable deposits, liabilities 31,259 32,802 33,220 37,365 36,184 35,451 36,050 41,871 40,432 40,952 40,938 46,779 45,198 44,786 43,233 47,657 46,216 46,258 47,207 51,373 51,634 51,029 51,239 56,233 53,404 55,922 57,002 65,940 73,397 85,003 99,910 108,713 109,032 119,399 111,674 110,303 121,119 96,936 93,589 92,980 87,411 85,196 82,471 95,180 106,829 96,558 85,860 90,152 86,799 87,954 89,727 93,283
            Other deposits, liabilities 61,940 64,488 64,988 65,240 66,331 64,317 66,841 70,136 69,704 69,471 73,346 75,464 77,207 77,766 77,503 79,648 76,659 77,154 77,721 78,918 77,603 79,695 81,108 83,509 80,457 81,478 83,519 89,382 95,625 86,219 77,640 76,053 72,520 73,321 80,712 76,687 79,788 88,948 96,162 101,004 103,971 105,422 106,326 107,149 112,594 109,791 111,021 111,751 110,954 113,533 112,206 112,952
      Securities other than shares, liabilities 82,969 86,459 88,869 91,486 95,257 102,439 109,713 112,927 116,670 121,631 128,623 126,152 129,167 134,188 142,356 143,348 149,755 156,656 153,158 152,934 155,258 161,950 166,050 170,684 179,609 192,960 209,415 203,139 204,120 237,637 236,449 232,254 231,191 234,684 253,589 266,083 244,883 278,115 266,129 275,907 275,341 281,342 288,369 294,084 299,271 288,170 307,833 308,673 314,006 322,783 335,829 332,222
            Short-term securities other than shares, liabilities 2,868 2,961 3,049 1,884 2,878 4,069 4,559 2,204 3,660 3,635 3,486 1,301 3,136 3,814 5,446 4,726 5,948 6,816 5,591 5,569 6,982 8,248 8,598 7,413 10,711 9,743 9,787 10,716 7,448 24,539 27,973 24,245 26,395 36,072 43,413 46,232 29,721 48,885 41,599 41,364 47,343 48,852 52,192 44,181 36,036 28,344 27,175 24,449 29,778 32,649 32,671 29,102
            Long-term securities other than shares, liabilities 80,101 83,498 85,820 89,602 92,379 98,369 105,153 110,723 113,009 117,996 125,137 124,851 126,031 130,375 136,910 138,622 143,807 149,840 147,567 147,366 148,276 153,702 157,452 163,271 168,898 183,217 199,628 192,423 196,672 213,097 208,476 208,010 204,796 198,613 210,176 219,851 215,161 229,230 224,530 234,543 227,998 232,489 236,178 249,904 263,235 259,826 280,658 284,224 284,228 290,134 303,158 303,119
      Loans, liabilities 147,726 154,132 158,270 164,429 170,498 173,813 180,681 187,092 189,958 194,142 210,218 215,813 215,018 216,674 217,845 222,485 221,295 224,992 224,400 226,982 230,151 235,928 242,049 252,986 253,962 259,441 270,509 279,141 297,385 314,831 313,745 301,695 306,922 316,238 333,403 345,152 345,509 374,775 387,780 375,390 368,387 374,577 392,874 396,954 413,386 394,400 379,239 394,158 390,816 395,562 405,777 401,763
            Short-term loans, liabilities 16,985 17,949 17,569 17,645 18,025 17,766 18,252 18,710 18,419 18,887 19,533 19,971 19,339 19,401 19,137 19,773 18,798 20,472 19,127 21,544 20,666 21,356 22,107 23,690 22,909 24,535 25,995 28,145 30,794 43,204 43,902 40,442 42,245 49,569 51,266 52,595 52,860 60,087 61,848 57,279 56,950 58,626 61,406 60,883 62,472 45,476 33,494 36,291 37,021 40,550 42,067 37,952
            Long-term loans, liabilities 130,741 136,183 140,701 146,784 152,473 156,047 162,430 168,382 171,540 175,255 190,686 195,841 195,678 197,274 198,709 202,712 202,497 204,519 205,273 205,437 209,485 214,572 219,942 229,296 231,054 234,906 244,514 250,996 266,591 271,627 269,843 261,253 264,677 266,669 282,137 292,558 292,648 314,688 325,932 318,111 311,438 315,951 331,468 336,071 350,915 348,924 345,745 357,867 353,795 355,012 363,711 363,811
      Shares and other equity, liabilities 374,977 368,140 364,844 366,460 379,266 390,418 408,647 410,388 421,484 421,504 429,231 431,294 443,677 449,192 455,586 457,217 471,558 473,342 489,438 495,596 497,372 500,493 506,385 507,362 516,948 515,880 529,594 522,250 493,077 501,007 488,697 497,813 533,358 524,851 536,823 543,002 548,302 565,754 577,186 574,046 573,265 587,878 610,752 620,666 652,900 656,302 665,544 688,607 706,205 730,416 761,968 793,190
            Shares, excluding mutual funds shares, liabilities 350,502 343,278 340,015 341,234 351,224 360,485 376,256 378,188 386,648 385,888 392,143 395,525 405,952 410,145 413,037 415,431 425,216 424,696 439,540 447,631 445,850 447,165 451,064 452,712 458,282 452,641 462,020 456,355 428,317 431,162 417,564 425,837 455,958 448,963 458,192 464,312 474,309 488,336 498,237 498,392 497,530 509,181 524,264 532,367 553,855 552,745 556,259 576,983 592,052 609,014 635,465 666,353
            Units issued by passive money market investment funds 11,797 12,602 12,454 12,256 12,945 12,358 13,277 13,759 13,669 13,959 14,286 14,109 15,283 15,065 14,892 15,076 16,623 16,695 17,065 15,621 17,986 18,072 17,957 17,165 18,520 19,566 19,986 22,854 26,649 28,909 28,357 26,527 26,518 25,960 26,901 25,367 24,014 25,742 26,089 25,127 26,254 28,217 32,744 33,942 38,017 41,096 42,179 42,547 42,787 45,396 42,584 40,200
            Units issued by investment funds other than passive money market funds 12,678 12,260 12,374 12,970 15,097 17,575 19,114 18,441 21,166 21,657 22,802 21,660 22,442 23,982 27,656 26,709 29,719 31,951 32,833 32,344 33,536 35,256 37,365 37,486 40,146 43,673 47,588 43,041 38,112 40,937 42,776 45,450 50,882 49,929 51,730 53,323 49,980 51,677 52,860 50,527 49,481 50,481 53,745 54,357 61,028 62,461 67,106 69,078 71,366 76,006 83,919 86,637
      Pension funds, liabilities 83,024 83,286 85,838 89,203 93,280 98,022 102,798 105,280 109,808 110,747 111,569 114,899 116,009 116,942 122,553 122,712 129,945 132,750 134,880 136,442 137,606 138,957 142,611 142,219 149,988 157,359 166,607 169,604 153,579 173,279 161,522 160,345 159,697 148,105 147,427 152,745 146,505 153,940 152,393 160,846 160,530 164,072 164,875 177,543 187,955 185,000 199,399 197,249 201,556 212,162 227,176 231,967
      Insurance technical reserves, liabilities 21,473 21,885 22,492 23,112 23,783 24,696 25,348 26,267 26,726 27,745 28,727 29,599 30,293 31,279 32,180 32,901 33,665 34,528 35,086 35,778 36,536 37,336 38,190 39,015 39,737 40,897 41,677 42,294 42,710 42,966 42,889 43,539 43,936 43,700 44,435 46,023 46,976 49,347 51,475 53,012 54,125 55,506 56,314 57,844 59,134 60,415 61,132 62,771 64,277 66,016 67,086 68,406
            Life insurance reserves, liabilities 20,642 21,027 21,607 22,206 22,839 23,699 24,325 25,210 25,661 26,634 27,571 28,448 29,172 30,134 31,025 31,715 32,461 33,278 33,826 34,491 35,225 36,008 36,839 37,606 38,296 39,423 40,218 40,716 41,134 41,481 41,445 42,021 42,406 42,192 42,832 44,267 45,121 47,387 49,391 50,855 51,987 53,388 54,134 55,645 56,894 58,207 58,882 60,455 61,939 63,659 64,771 66,077
            Reserves for premiums and claims, liabilities 831 858 886 906 944 997 1,023 1,057 1,065 1,111 1,157 1,152 1,121 1,145 1,155 1,185 1,204 1,250 1,260 1,287 1,311 1,328 1,351 1,409 1,440 1,474 1,459 1,578 1,576 1,485 1,444 1,518 1,531 1,507 1,603 1,756 1,855 1,960 2,084 2,156 2,139 2,118 2,180 2,199 2,240 2,209 2,250 2,316 2,338 2,357 2,316 2,328
      Other accounts payable 114,576 115,428 118,043 120,496 125,253 127,138 133,862 135,989 143,466 145,640 143,274 151,649 158,737 160,749 160,714 156,656 160,175 161,425 161,795 167,275 169,999 167,811 167,709 166,615 180,642 185,070 190,031 198,506 195,104 182,181 182,078 193,953 201,236 210,154 219,882 227,178 239,731 237,303 241,246 251,465 258,164 253,914 250,773 255,559 254,434 263,667 270,097 272,705 283,461 288,602 294,098 301,907