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

Households and NPISHs final consumption expenditure (% of GDP) in Thailand was 52.89 as of 2020. Its highest value over the past 60 years was 70.01 in 1970, while its lowest value was 48.90 in 2018.

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 67.25
1961 66.51
1962 67.67
1963 67.64
1964 66.28
1965 64.16
1966 60.71
1967 64.15
1968 63.95
1969 62.12
1970 70.01
1971 68.33
1972 69.14
1973 67.10
1974 68.10
1975 69.66
1976 68.59
1977 67.38
1978 64.52
1979 65.13
1980 65.45
1981 65.29
1982 63.57
1983 65.10
1984 63.65
1985 62.22
1986 61.39
1987 60.09
1988 56.74
1989 55.50
1990 56.56
1991 54.98
1992 54.77
1993 51.96
1994 52.13
1995 51.30
1996 51.71
1997 53.00
1998 51.68
1999 53.19
2000 54.13
2001 56.00
2002 55.66
2003 55.63
2004 55.87
2005 55.84
2006 54.45
2007 52.55
2008 53.64
2009 53.07
2010 52.18
2011 52.96
2012 53.27
2013 52.55
2014 52.60
2015 51.34
2016 50.01
2017 48.93
2018 48.90
2019 49.75
2020 52.89

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