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

Households and NPISHs final consumption expenditure (% of GDP) in China was 38.11 as of 2020. Its highest value over the past 60 years was 72.16 in 1962, while its lowest value was 34.33 in 2010.

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 50.45
1961 66.27
1962 72.16
1963 67.63
1964 60.52
1965 54.87
1966 54.06
1967 60.28
1968 61.73
1969 57.47
1970 52.94
1971 51.37
1972 52.27
1973 51.97
1974 51.88
1975 50.29
1976 53.15
1977 50.70
1978 47.82
1979 49.12
1980 50.94
1981 53.23
1982 53.36
1983 53.50
1984 50.69
1985 50.86
1986 51.02
1987 49.67
1988 49.62
1989 51.09
1990 49.99
1991 47.92
1992 45.27
1993 44.00
1994 44.09
1995 45.75
1996 46.85
1997 45.90
1998 45.51
1999 46.21
2000 46.73
2001 45.52
2002 44.91
2003 42.71
2004 40.61
2005 39.59
2006 37.75
2007 36.37
2008 35.29
2009 35.33
2010 34.33
2011 34.92
2012 35.39
2013 35.83
2014 36.71
2015 37.77
2016 38.67
2017 38.54
2018 38.52
2019 39.25
2020 38.11

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