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

Household final consumption expenditure, etc. (% of GDP) in Fiji was 81.21 as of 2016. Its highest value over the past 56 years was 81.84 in 2004, while its lowest value was 51.92 in 1998.

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 69.84
1961 76.96
1962 74.59
1963 66.83
1964 61.24
1965 74.66
1966 69.59
1967 68.58
1968 65.23
1969 65.54
1970 67.10
1971 68.48
1972 70.84
1973 78.72
1974 74.31
1975 68.01
1976 69.56
1977 64.08
1978 65.27
1979 57.50
1980 57.17
1981 63.74
1982 62.53
1983 64.01
1984 62.93
1985 62.17
1986 62.28
1987 63.29
1988 69.55
1989 66.93
1990 73.03
1991 69.98
1992 72.22
1993 72.59
1994 73.18
1995 60.79
1996 63.43
1997 62.30
1998 51.92
1999 61.73
2000 70.61
2001 74.50
2002 66.57
2003 69.73
2004 81.84
2005 72.96
2006 77.33
2007 74.52
2008 76.51
2011 64.04
2012 67.70
2013 63.85
2014 71.63
2015 67.12
2016 81.21

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