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

Households and NPISHs final consumption expenditure (% of GDP) in Sierra Leone was 101.19 as of 2020. Its highest value over the past 56 years was 107.73 in 2013, while its lowest value was 63.80 in 1973.

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
1964 78.56
1965 79.86
1966 79.19
1967 86.82
1968 83.60
1969 71.53
1970 74.20
1971 76.79
1972 77.07
1973 63.80
1974 65.62
1975 77.61
1976 80.69
1977 79.53
1978 71.51
1979 75.03
1980 90.72
1981 90.66
1982 88.22
1983 87.80
1984 82.14
1985 91.69
1986 79.08
1987 71.67
1988 73.07
1989 78.14
1990 78.51
1991 77.09
1992 84.45
1993 86.49
1994 76.77
1995 93.48
1996 92.80
1997 95.30
1998 92.97
1999 94.27
2000 105.83
2001 94.85
2002 94.55
2003 93.97
2004 90.76
2005 89.17
2006 86.51
2007 89.54
2008 91.97
2009 93.93
2010 76.20
2011 96.07
2012 89.79
2013 107.73
2014 100.83
2015 103.09
2016 102.11
2017 93.04
2018 97.69
2019 98.60
2020 101.19

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