Dominican Republic - Households and NPISHs final consumption expenditure (% of GDP)

Households and NPISHs final consumption expenditure (% of GDP) in Dominican Republic was 69.69 as of 2020. Its highest value over the past 60 years was 84.22 in 1992, while its lowest value was 67.80 in 2019.

Definition: Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 70.12
1961 73.86
1962 75.29
1963 75.12
1964 76.26
1965 77.67
1966 80.06
1967 80.32
1968 81.23
1969 78.85
1970 79.26
1971 81.69
1972 74.72
1973 74.06
1974 76.04
1975 72.68
1976 80.72
1977 81.29
1978 81.22
1979 76.76
1980 81.64
1981 75.52
1982 79.53
1983 79.09
1984 82.89
1985 80.22
1986 76.68
1987 80.15
1988 75.63
1989 79.43
1990 81.70
1991 83.07
1992 84.22
1993 80.98
1994 78.84
1995 78.56
1996 77.63
1997 74.62
1998 71.90
1999 71.34
2000 71.69
2001 70.43
2002 70.35
2003 72.10
2004 70.84
2005 72.13
2006 71.60
2007 70.89
2008 73.50
2009 74.27
2010 74.34
2011 76.27
2012 75.04
2013 73.18
2014 71.61
2015 70.92
2016 70.49
2017 69.45
2018 68.30
2019 67.80
2020 69.69

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Household final consumption expenditure is often estimated as a residual, by subtracting all other known expenditures from GDP. The resulting aggregate may incorporate fairly large discrepancies. When household consumption is calculated separately, many of the estimates are based on household surveys, which tend to be one-year studies with limited coverage. Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures. Complicating the issue, in many developing countries the distinction between cash outlays for personal business and those for household use may be blurred. Informal economic activities pose a particular measurement problem, especially in developing countries, where much economic activity is unrecorded. A complete picture of the economy requires estimating household outputs produced for home use, sales in informal markets, barter exchanges, and illicit or deliberately unreported activities. The consistency and completeness of such estimates depend on the skill and methods of the compiling statisticians.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts