General government revenue (% of GDP) for Philippines in year 2014 is 18.865 %. Revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government?s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.
This makes Philippines No. 163 in world rankings according to General government revenue (% of GDP) in year 2014. The world's average General government revenue (% of GDP) value is 31.60 %; Philippines is 12.74 less than the average.
In the previous year, 2013, General government revenue (% of GDP) for Philippines was 18.50 % General government revenue (% of GDP) for Philippines in 2014 was or will be 1.98% more than it was or will be in 2013.
In the following or forecasted year, 2015, General government revenue (% of GDP) for Philippines was or will be 18.75 %, which is 0.61% less than the 2014 figure.