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

Household final consumption expenditure, etc. (% of GDP) in Benin was 69.47 as of 2016. Its highest value over the past 56 years was 103.19 in 1981, while its lowest value was 68.49 in 2014.

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 84.41
1961 83.82
1962 84.48
1963 85.56
1964 88.24
1965 90.01
1966 92.34
1967 91.07
1968 88.37
1969 88.07
1970 87.95
1971 89.71
1972 88.91
1973 87.25
1974 88.33
1975 90.33
1976 92.79
1977 92.54
1978 93.64
1979 92.46
1980 97.71
1981 103.19
1982 84.22
1983 86.07
1984 84.94
1985 88.69
1986 87.22
1987 87.21
1988 89.46
1989 88.41
1990 75.73
1991 78.68
1992 80.89
1993 79.14
1994 74.31
1995 73.19
1996 72.46
1997 72.60
1998 74.14
1999 78.20
2000 78.08
2001 78.48
2002 77.71
2003 75.49
2004 73.60
2005 76.70
2006 76.40
2007 74.28
2008 75.02
2009 73.19
2010 73.43
2011 72.29
2012 71.26
2013 68.83
2014 68.49
2015 68.59
2016 69.47

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