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

Household final consumption expenditure, etc. (% of GDP) in Honduras was 77.51 as of 2016. Its highest value over the past 56 years was 81.93 in 2013, while its lowest value was 62.76 in 1994.

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 76.67
1961 75.90
1962 73.95
1963 75.98
1964 76.49
1965 74.88
1966 75.06
1967 72.32
1968 72.75
1969 72.40
1970 73.83
1971 71.75
1972 70.98
1973 71.62
1974 74.05
1975 77.67
1976 72.33
1977 68.88
1978 66.75
1979 65.96
1980 69.39
1981 72.21
1982 74.22
1983 76.11
1984 75.72
1985 74.35
1986 73.60
1987 71.23
1988 67.51
1989 69.92
1990 66.83
1991 67.56
1992 66.60
1993 64.86
1994 62.76
1995 63.51
1996 64.45
1997 64.62
1998 66.63
1999 68.96
2000 70.75
2001 72.49
2002 73.30
2003 73.86
2004 73.94
2005 75.33
2006 77.68
2007 77.78
2008 79.92
2009 78.55
2010 78.12
2011 77.64
2012 78.62
2013 81.93
2014 80.33
2015 77.76
2016 77.51

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