Luxembourg - Households and NPISHs final consumption expenditure (% of GDP)

Households and NPISHs final consumption expenditure (% of GDP) in Luxembourg was 30.68 as of 2020. Its highest value over the past 50 years was 56.85 in 1981, while its lowest value was 30.68 in 2020.

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
1970 47.17
1971 51.21
1972 50.03
1973 45.66
1974 43.06
1975 53.95
1976 52.87
1977 55.63
1978 54.11
1979 54.01
1980 54.86
1981 56.85
1982 56.31
1983 55.69
1984 54.30
1985 54.98
1986 51.84
1987 52.58
1988 51.11
1989 48.44
1990 48.25
1991 48.25
1992 46.51
1993 44.70
1994 44.39
1995 44.44
1996 43.96
1997 42.57
1998 43.59
1999 41.37
2000 40.07
2001 40.82
2002 41.58
2003 41.60
2004 40.08
2005 38.34
2006 36.22
2007 34.39
2008 34.16
2009 35.42
2010 34.38
2011 34.42
2012 34.31
2013 33.27
2014 32.72
2015 32.53
2016 32.63
2017 33.19
2018 33.45
2019 33.54
2020 30.68

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 Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures.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