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

Household final consumption expenditure, etc. (% of GDP) in South Africa was 59.89 as of 2016. Its highest value over the past 56 years was 63.81 in 1960, while its lowest value was 47.88 in 1980.

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 63.81
1961 61.47
1962 60.94
1963 60.59
1964 61.90
1965 62.70
1966 61.96
1967 61.38
1968 60.45
1969 61.85
1970 62.98
1971 60.21
1972 58.93
1973 59.71
1974 59.08
1975 57.18
1976 57.22
1977 52.35
1978 53.01
1979 49.71
1980 47.88
1981 54.14
1982 58.49
1983 54.14
1984 55.92
1985 52.29
1986 52.93
1987 54.31
1988 54.70
1989 54.37
1990 56.72
1991 58.17
1992 60.35
1993 60.67
1994 60.30
1995 62.06
1996 61.32
1997 61.86
1998 61.98
1999 61.86
2000 62.37
2001 61.77
2002 61.12
2003 61.47
2004 62.52
2005 62.46
2006 63.39
2007 62.54
2008 59.81
2009 59.03
2010 59.02
2011 59.61
2012 61.23
2013 60.56
2014 60.19
2015 59.92
2016 59.89

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