Central African Republic - Household final consumption expenditure, etc. (% of GDP)

Household final consumption expenditure, etc. (% of GDP) in Central African Republic was 96.40 as of 2016. Its highest value over the past 56 years was 106.12 in 2014, while its lowest value was 66.94 in 1965.

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 72.00
1961 68.87
1962 69.51
1963 71.92
1964 67.82
1965 66.94
1966 71.65
1967 76.67
1968 69.09
1969 73.85
1970 71.55
1971 69.95
1972 71.49
1973 67.50
1974 80.17
1975 87.86
1976 81.63
1977 85.21
1978 85.50
1979 87.28
1980 93.71
1981 85.95
1982 89.48
1983 83.74
1984 85.56
1985 79.11
1986 82.07
1987 80.61
1988 80.67
1989 78.60
1990 80.72
1991 79.26
1992 79.97
1993 79.96
1994 73.43
1995 77.00
1996 83.96
1997 80.12
1998 83.26
1999 74.82
2000 77.56
2001 81.17
2002 80.73
2003 83.00
2004 88.00
2005 89.87
2006 90.67
2007 92.30
2008 92.65
2009 91.92
2010 92.21
2011 87.71
2012 88.05
2013 91.63
2014 106.12
2015 100.37
2016 96.40

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