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

Households and NPISHs final consumption expenditure (% of GDP) in Bolivia was 69.32 as of 2020. Its highest value over the past 60 years was 86.49 in 1961, while its lowest value was 59.50 in 2012.

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 84.01
1961 86.49
1962 84.78
1963 83.87
1964 78.06
1965 76.74
1966 77.36
1967 78.34
1968 75.67
1969 75.15
1970 73.69
1971 75.83
1972 72.61
1973 70.34
1974 67.53
1975 72.78
1976 72.18
1977 71.99
1978 70.13
1979 67.32
1980 67.57
1981 70.83
1982 72.91
1983 73.49
1984 69.18
1985 73.77
1986 81.40
1987 80.18
1988 79.00
1989 77.13
1990 76.86
1991 77.83
1992 79.44
1993 79.37
1994 77.60
1995 75.82
1996 75.13
1997 74.71
1998 75.06
1999 76.84
2000 76.37
2001 75.29
2002 73.82
2003 71.01
2004 67.91
2005 66.32
2006 62.77
2007 63.23
2008 62.22
2009 65.50
2010 62.30
2011 60.70
2012 59.50
2013 60.19
2014 62.94
2015 68.42
2016 68.91
2017 67.65
2018 67.01
2019 68.44
2020 69.32

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