Venezuela - General government final consumption expenditure (% of GDP)

General government final consumption expenditure (% of GDP) in Venezuela was 14.60 as of 2014. Its highest value over the past 54 years was 14.60 in 2014, while its lowest value was 4.85 in 1996.

Definition: General government final consumption expenditure (formerly general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 13.47
1961 11.35
1962 11.28
1963 12.05
1964 11.13
1965 11.48
1966 12.00
1967 12.09
1968 12.22
1969 12.75
1970 12.28
1971 13.21
1972 13.37
1973 12.68
1974 11.04
1975 13.03
1976 14.18
1977 14.29
1978 13.79
1979 12.95
1980 13.36
1981 14.45
1982 14.15
1983 13.76
1984 9.98
1985 10.11
1986 10.82
1987 9.88
1988 10.19
1989 9.25
1990 8.14
1991 9.34
1992 8.89
1993 8.27
1994 6.99
1995 6.89
1996 4.85
1997 13.53
1998 13.47
1999 12.32
2000 12.45
2001 14.24
2002 13.01
2003 12.87
2004 11.96
2005 11.06
2006 11.71
2007 12.47
2008 11.86
2009 13.70
2010 11.21
2011 11.52
2012 12.19
2013 12.39
2014 14.60

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.

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