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

Household final consumption expenditure, etc. (% of GDP) in Mexico was 66.33 as of 2016. Its highest value over the past 56 years was 79.17 in 1960, while its lowest value was 60.87 in 1983.

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 79.17
1961 78.92
1962 78.84
1963 76.72
1964 76.95
1965 75.33
1966 75.60
1967 75.41
1968 76.09
1969 75.21
1970 71.92
1971 73.22
1972 71.82
1973 70.49
1974 69.84
1975 68.72
1976 68.08
1977 66.30
1978 66.05
1979 64.41
1980 65.07
1981 64.38
1982 61.60
1983 60.87
1984 63.08
1985 64.51
1986 68.45
1987 65.84
1988 67.64
1989 68.85
1990 69.58
1991 70.50
1992 71.81
1993 69.83
1994 70.52
1995 65.67
1996 65.85
1997 67.18
1998 67.03
1999 66.98
2000 66.82
2001 68.93
2002 70.00
2003 68.24
2004 68.43
2005 68.48
2006 67.23
2007 67.63
2008 66.96
2009 66.58
2010 67.49
2011 67.42
2012 66.23
2013 67.04
2014 67.26
2015 66.57
2016 66.33

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