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

Household final consumption expenditure, etc. (% of GDP) in Costa Rica was 63.25 as of 2016. Its highest value over the past 56 years was 77.92 in 1965, while its lowest value was 57.84 in 1982.

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 76.91
1961 73.12
1962 71.83
1963 73.63
1964 74.83
1965 77.92
1966 74.13
1967 74.19
1968 74.08
1969 72.68
1970 73.67
1971 72.18
1972 70.02
1973 68.16
1974 73.78
1975 71.62
1976 66.35
1977 65.21
1978 67.60
1979 66.90
1980 65.55
1981 60.14
1982 57.84
1983 72.54
1984 72.27
1985 74.37
1986 70.85
1987 72.34
1988 71.84
1989 72.48
1990 72.91
1991 72.93
1992 72.88
1993 73.35
1994 72.01
1995 70.88
1996 73.08
1997 71.58
1998 68.57
1999 67.92
2000 66.11
2001 65.29
2002 67.24
2003 68.38
2004 67.79
2005 69.68
2006 68.78
2007 69.04
2008 70.42
2009 66.29
2010 65.40
2011 66.68
2012 66.25
2013 66.40
2014 66.19
2015 64.13
2016 63.25

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