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

Household final consumption expenditure, etc. (% of GDP) in Burkina Faso was 62.72 as of 2015. Its highest value over the past 55 years was 98.77 in 1981, while its lowest value was 57.59 in 1994.

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 95.03
1961 94.05
1962 93.92
1963 93.90
1964 92.10
1965 92.96
1966 94.03
1967 96.66
1968 94.75
1969 95.19
1970 93.47
1971 92.41
1972 90.35
1973 87.89
1974 82.36
1975 86.81
1976 85.83
1977 92.89
1978 91.92
1979 93.84
1980 97.98
1981 98.77
1982 91.72
1983 90.18
1984 90.59
1985 80.85
1986 80.85
1987 77.56
1988 77.32
1989 74.35
1990 73.52
1991 69.96
1992 69.65
1993 70.92
1994 57.59
1995 63.34
1996 67.72
1997 64.67
1998 68.85
1999 78.51
2000 74.72
2001 74.30
2002 73.80
2003 72.13
2004 72.03
2005 72.18
2006 71.56
2007 68.23
2008 69.60
2009 68.52
2010 62.84
2011 59.61
2012 58.35
2013 61.12
2014 60.60
2015 62.72

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