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

Household final consumption expenditure, etc. (% of GDP) in Nicaragua was 78.48 as of 2016. Its highest value over the past 56 years was 95.42 in 1992, while its lowest value was 48.19 in 1985.

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 78.87
1961 77.75
1962 76.95
1963 76.68
1964 74.86
1965 74.20
1966 75.37
1967 78.26
1968 76.96
1969 75.09
1970 74.27
1971 74.79
1972 72.11
1973 77.47
1974 74.32
1975 78.43
1976 72.19
1977 70.80
1978 72.75
1979 74.00
1980 82.53
1981 73.90
1982 67.86
1983 56.67
1984 55.44
1985 48.19
1986 55.81
1987 51.96
1988 81.33
1989 78.50
1990 58.64
1991 89.36
1992 95.42
1993 90.38
1994 87.78
1995 85.40
1996 85.27
1997 85.97
1998 85.39
1999 84.25
2000 85.75
2001 86.63
2002 89.22
2003 89.33
2004 87.88
2005 87.57
2006 87.21
2007 87.87
2008 86.63
2009 88.23
2010 86.81
2011 83.36
2012 81.86
2013 82.11
2014 80.14
2015 77.99
2016 78.48

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