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

Household final consumption expenditure, etc. (% of GDP) in Madagascar was 77.05 as of 2016. Its highest value over the past 56 years was 91.52 in 1991, while its lowest value was 75.62 in 2001.

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 85.37
1961 83.65
1962 82.37
1963 83.86
1964 83.43
1965 84.29
1966 81.89
1967 79.37
1968 78.97
1969 78.77
1970 79.41
1971 80.55
1972 81.59
1973 83.29
1974 84.82
1975 86.06
1976 83.01
1977 84.50
1978 85.43
1979 87.45
1980 89.33
1981 88.23
1982 90.32
1983 89.00
1984 86.17
1985 89.96
1986 85.51
1987 86.70
1988 85.37
1989 81.67
1990 86.43
1991 91.52
1992 88.86
1993 90.00
1994 89.78
1995 89.93
1996 84.11
1997 87.46
1998 85.15
1999 85.62
2000 83.24
2001 75.62
2002 84.17
2003 81.87
2004 84.53
2005 85.95
2006 81.80
2007 79.84
2008 80.77
2009 85.04
2010 86.66
2011 87.79
2012 87.98
2013 88.80
2014 85.29
2015 79.56
2016 77.05

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