• Rich Filipino families’ income over 10 times that of the poorest

    3

    The income of rich Filipino families is over 10 times that of the poorest families, according data released by the National Statistics Office (NSO).

    NSO Administrator Carmelita Ericta said the 2012 Family Income and Expenditure Survey (FIES) showed that the richest respondents earned an average annual income of P715,000 or P60,000 a month.

    The poorest respondents earned P69,000 a year or about P6,000 a month.

    “The gap in income between the richest and the poorest remains wide. The income of
    families in the richest decile is 10 times that of the poorest. This finding is true for both 2009 and 2012,” Ericta said.

    According to the survey, the richest families spent P463,000 in 2012, with P252,000 total savings for the year. The poorest ended up in debt instead of savings, since their expenses exceed their income.

    “At 2006 prices, the income of families in all per capita income [levels]had hardly changed within the period 2009 to 2012,” Ericta said.

    The 2012 FIES showed that the average Filipino family earns P234,000 annually and spends about P185,000, leading to savings of P49,000.

    “At the regional level—at 2012 prices—all regions exhibited an increase in average annual family income. Families in the National Capital Region had the highest annual income at P380,000 on average while families in Autonomous Region in Muslim Mindanao had the lowest annual income of P129,000 pesos, on average,” Ericta said.

    In 2012 the biggest expense was food, accounting for 44 percent of the total family expenditure.

    House or rental fees came in second with 12.5 percent, and expenditure on water, electricity, gas and other fuels was third with 8.9-percent.

    For the bottom 30 percent of per capita income group, two thirds of their expenses was for food (62.7 percent) followed by house or rent (7.9 percent) and water, electricity, gas and other fuels spending (7.5 percent).

    Ericta said families in the above 70 percent per capita income group spent 41.4 percent on
    food, 13.3 percent on house or rent and 9.1 percent on water, electricity, gas and other fuels.

    The FIES surveys households and looks at family income and expenditure data every three years. The next survey will be in 2015.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    3 Comments

    1. Saturnino R. Mendinueto, Jr. on

      Nakatulog o nanaginip kaya ang nag survey sa NSO, 10 times lang ang kita ng riches Pilipino compared sa poorest??? Ay naku Gising Carmelita Ercta, yuon P715,000 ay gastos lang ng isang mayaman pamilya sa dinner sa isang 1st class hotel. GISING, GISING Mam Lita?????

    2. Does any pinoy ever look at what it costs to borrow money from a bank here & what interest rate they will get for saving money here. If you save money here you wont get 1%, its terrible. Then if you dont use your account for a period of time they make a charge on you. Your banks need a huge change to serve the people & give a fair deal to the people. Does the giovernment ever look at these things no they dont because they get extra money on top of their salaries so this doesnt bother them. If they had o just manage on their salaries they would start looking at what is wrong with this country from every angle & would start doing something about it. Pinoys need to wise up & start complaining, look how people are treated in europe or america & make your country follow.

    3. Companies should increase the Pinoy Workers Salaries to the amount of 40,000 to 30,000 a month to survive. At present the salary is unacceptable, prices were very high not enough to survived. That’s the reason why Crimes is Rampant everywhere a scaring place to live, so how can you invite tourist to come to the Philippines a ‘Dangerous place to walk around and Tour.