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

Household final consumption expenditure, etc. (% of GDP) in Ghana was 66.61 as of 2016. Its highest value over the past 56 years was 90.82 in 1983, while its lowest value was 59.78 in 2012.

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 72.84
1961 79.35
1962 76.80
1963 76.18
1964 72.73
1965 77.29
1966 79.12
1967 77.26
1968 72.59
1969 74.56
1970 74.37
1971 77.40
1972 74.78
1973 75.01
1974 78.22
1975 73.33
1976 79.21
1977 77.36
1978 84.66
1979 83.11
1980 83.90
1981 87.20
1982 89.78
1983 90.82
1984 88.59
1985 83.97
1986 83.13
1987 85.45
1988 84.87
1989 84.55
1990 85.22
1991 83.20
1992 86.63
1993 79.50
1994 73.82
1995 76.34
1996 74.74
1997 83.42
1998 79.42
1999 85.70
2000 84.27
2001 83.26
2002 82.68
2003 81.46
2004 80.51
2005 80.96
2006 82.60
2007 84.64
2008 86.76
2009 80.61
2010 80.07
2011 69.34
2012 59.78
2013 65.62
2014 64.29
2015 67.76
2016 66.61

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