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

Households and NPISHs final consumption expenditure (% of GDP) in Australia was 52.94 as of 2020. Its highest value over the past 60 years was 59.03 in 1983, while its lowest value was 52.94 in 2020.

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 57.63
1961 57.95
1962 59.01
1963 58.31
1964 57.31
1965 56.93
1966 57.68
1967 55.96
1968 56.72
1969 55.04
1970 54.06
1971 54.42
1972 54.57
1973 54.40
1974 53.49
1975 55.85
1976 55.76
1977 56.67
1978 57.80
1979 56.62
1980 55.88
1981 55.98
1982 56.04
1983 59.03
1984 56.79
1985 55.21
1986 56.30
1987 56.75
1988 55.31
1989 54.40
1990 55.07
1991 57.10
1992 58.83
1993 58.14
1994 57.58
1995 57.80
1996 57.55
1997 57.08
1998 57.47
1999 58.12
2000 57.95
2001 58.59
2002 57.87
2003 58.40
2004 57.99
2005 57.56
2006 56.72
2007 56.64
2008 56.54
2009 54.61
2010 56.00
2011 54.57
2012 54.29
2013 55.35
2014 55.57
2015 56.86
2016 57.78
2017 56.35
2018 55.98
2019 54.75
2020 52.94

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