Argentina - Household final consumption expenditure, etc. (% of GDP)

Household final consumption expenditure, etc. (% of GDP) in Argentina was 65.91 as of 2016. Its highest value over the past 56 years was 81.86 in 1992, while its lowest value was 56.60 in 1976.

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 66.64
1961 64.44
1962 70.77
1963 71.47
1964 71.30
1965 67.41
1966 66.99
1967 66.55
1968 67.40
1969 66.51
1970 64.95
1971 66.34
1972 66.40
1973 65.66
1974 63.97
1975 58.12
1976 56.60
1977 57.75
1978 58.14
1979 62.95
1987 75.43
1988 73.72
1989 73.51
1990 77.14
1991 80.44
1992 81.86
1993 69.84
1994 69.95
1995 69.12
1996 70.07
1997 70.78
1998 70.09
1999 69.99
2000 70.67
2001 70.36
2002 60.79
2003 62.21
2004 64.33
2005 63.04
2006 63.27
2007 62.53
2008 63.07
2009 62.98
2010 64.23
2011 64.22
2012 64.90
2013 65.99
2014 65.38
2015 65.45
2016 65.91

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 Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures.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