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

Household final consumption expenditure, etc. (% of GDP) in China was 39.01 as of 2016. Its highest value over the past 56 years was 70.88 in 1962, while its lowest value was 35.82 in 2007.

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 48.02
1961 62.86
1962 70.88
1963 63.98
1964 62.41
1965 60.96
1966 57.38
1967 65.15
1968 63.80
1969 62.79
1970 56.20
1971 53.97
1972 56.12
1973 55.17
1974 55.25
1975 53.39
1976 53.94
1977 53.38
1978 49.26
1979 49.93
1980 51.49
1981 53.15
1982 51.68
1983 52.12
1984 49.76
1985 49.72
1986 50.00
1987 48.30
1988 48.57
1989 49.85
1990 48.30
1991 46.37
1992 44.13
1993 42.85
1994 42.96
1995 44.96
1996 45.75
1997 46.51
1998 44.81
1999 45.48
2000 46.22
2001 44.86
2002 44.43
2003 41.74
2004 39.87
2005 38.48
2006 36.39
2007 35.82
2008 36.46
2009 36.15
2010 35.92
2011 36.75
2012 36.63
2013 36.63
2014 37.16
2015 37.14
2016 39.01

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