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

Household final consumption expenditure, etc. (% of GDP) in Congo was 56.46 as of 2016. Its highest value over the past 56 years was 96.87 in 1960, while its lowest value was 27.23 in 1992.

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 96.87
1961 85.95
1962 82.41
1963 83.37
1964 83.43
1965 80.45
1966 75.28
1967 77.74
1968 79.26
1969 80.41
1970 81.84
1971 76.32
1972 77.00
1973 62.25
1974 53.37
1975 70.74
1976 77.48
1977 73.72
1978 67.07
1979 54.86
1980 46.75
1981 56.47
1982 40.01
1983 39.84
1984 38.82
1985 52.48
1986 59.43
1987 56.58
1988 60.14
1989 52.68
1990 31.81
1991 38.15
1992 27.23
1993 31.35
1994 39.40
1995 46.61
1996 45.85
1997 41.38
1998 45.47
1999 43.98
2000 29.12
2001 35.45
2002 30.66
2003 51.79
2004 32.82
2005 37.16
2006 45.90
2007 36.21
2008 41.60
2009 45.04
2010 38.61
2011 35.29
2012 35.91
2013 45.04
2014 42.13
2015 68.08
2016 56.46

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