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

Household final consumption expenditure, etc. (% of GDP) in Denmark was 47.43 as of 2016. Its highest value over the past 50 years was 59.56 in 1967, while its lowest value was 46.71 in 2001.

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
1966 59.39
1967 59.56
1968 58.55
1969 57.37
1970 55.12
1971 53.75
1972 51.27
1973 52.40
1974 52.77
1975 53.89
1976 55.02
1977 55.36
1978 54.62
1979 54.35
1980 54.06
1981 54.31
1982 53.13
1983 52.44
1984 52.59
1985 52.54
1986 52.88
1987 51.62
1988 50.77
1989 50.52
1990 49.74
1991 49.92
1992 49.99
1993 49.79
1994 50.94
1995 50.55
1996 50.17
1997 49.94
1998 50.14
1999 48.75
2000 47.06
2001 46.71
2002 46.94
2003 47.25
2004 47.73
2005 47.79
2006 47.40
2007 47.49
2008 47.39
2009 48.48
2010 47.61
2011 47.91
2012 48.04
2013 47.69
2014 47.16
2015 47.13
2016 47.43

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 Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures.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