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

Household final consumption expenditure, etc. (% of GDP) in Swaziland was 68.44 as of 2016. Its highest value over the past 56 years was 89.18 in 1985, while its lowest value was 35.37 in 1964.

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 43.32
1961 44.03
1962 39.34
1963 36.63
1964 35.37
1965 40.44
1966 57.19
1967 65.17
1968 61.75
1969 59.10
1970 53.79
1971 53.88
1972 54.51
1973 52.52
1974 39.18
1975 48.12
1976 51.43
1977 55.82
1978 52.13
1979 72.04
1980 71.76
1981 72.89
1982 80.91
1983 83.95
1984 87.92
1985 89.18
1986 70.98
1987 65.98
1988 62.31
1989 61.41
1990 80.45
1991 80.86
1992 85.65
1993 83.42
1994 74.49
1995 82.28
1996 87.04
1997 76.86
1998 77.84
1999 79.88
2000 75.73
2001 73.05
2002 74.59
2003 66.86
2004 69.61
2005 77.47
2006 76.75
2007 76.73
2008 78.09
2009 77.81
2010 77.72
2011 80.48
2012 79.55
2013 75.74
2014 73.51
2015 68.56
2016 68.44

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