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

Households and NPISHs final consumption expenditure (% of GDP) in Paraguay was 63.17 as of 2020. Its highest value over the past 58 years was 83.41 in 1964, while its lowest value was 53.88 in 1989.

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
1962 82.46
1963 83.30
1964 83.41
1965 78.92
1966 79.26
1967 79.09
1968 80.24
1969 79.56
1970 77.47
1971 79.51
1972 77.00
1973 73.77
1974 75.17
1975 74.26
1976 72.49
1977 72.10
1978 69.83
1979 71.19
1980 71.24
1981 71.13
1982 74.90
1983 78.17
1984 75.40
1985 72.59
1986 68.82
1987 69.96
1988 61.71
1989 53.88
1990 62.89
1991 61.71
1992 63.30
1993 65.42
1994 68.14
1995 63.62
1996 65.80
1997 65.89
1998 61.92
1999 63.11
2000 64.24
2001 63.87
2002 57.99
2003 58.27
2004 61.07
2005 60.81
2006 61.89
2007 63.26
2008 66.22
2009 66.59
2010 64.08
2011 63.29
2012 65.78
2013 62.63
2014 63.95
2015 63.73
2016 62.29
2017 62.89
2018 64.34
2019 65.31
2020 63.17

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