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

Household final consumption expenditure, etc. (% of GDP) in Israel was 55.09 as of 2016. Its highest value over the past 56 years was 68.08 in 1960, while its lowest value was 47.30 in 1973.

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 68.08
1961 66.93
1962 62.62
1963 62.88
1964 62.47
1965 67.13
1966 67.00
1967 67.11
1968 65.25
1969 64.37
1970 52.53
1971 48.65
1972 47.40
1973 47.30
1974 49.17
1975 49.09
1976 51.09
1977 51.08
1978 51.21
1979 51.68
1980 49.75
1981 51.41
1982 52.62
1983 53.99
1984 50.79
1985 53.88
1986 57.96
1987 58.73
1988 58.53
1989 59.08
1990 57.65
1991 55.36
1992 55.00
1993 56.24
1994 56.84
1995 55.64
1996 54.49
1997 53.40
1998 53.49
1999 53.42
2000 53.01
2001 54.43
2002 55.30
2003 55.22
2004 55.52
2005 55.38
2006 55.48
2007 56.74
2008 57.69
2009 56.30
2010 56.76
2011 56.74
2012 56.04
2013 55.49
2014 55.67
2015 54.71
2016 55.09

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