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

Household final consumption expenditure, etc. (% of GDP) in Oman was 28.08 as of 2015. Its highest value over the past 48 years was 57.90 in 1998, while its lowest value was 8.72 in 1974.

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
1967 53.09
1968 27.19
1969 22.90
1970 19.38
1971 17.11
1972 24.93
1973 23.97
1974 8.72
1975 15.89
1976 20.54
1977 26.76
1978 32.74
1979 26.13
1980 27.69
1981 25.85
1982 31.90
1983 31.37
1984 30.81
1985 32.63
1986 36.36
1987 30.98
1988 45.85
1990 45.73
1991 51.54
1992 50.07
1993 52.08
1994 51.12
1995 51.46
1996 48.58
1997 47.67
1998 57.90
1999 50.19
2000 35.36
2001 37.26
2002 36.15
2003 37.59
2004 37.17
2005 30.56
2006 29.71
2007 30.42
2008 28.05
2009 36.45
2010 31.99
2011 28.45
2012 22.06
2013 22.24
2014 22.61
2015 28.08

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 Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures.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