European Union - Expense (% of GDP)

Expense (% of GDP) in European Union was 36.62 as of 2019. Its highest value over the past 46 years was 43.63 in 1995, while its lowest value was 24.48 in 1973.

Definition: Expense is cash payments for operating activities of the government in providing goods and services. It includes compensation of employees (such as wages and salaries), interest and subsidies, grants, social benefits, and other expenses such as rent and dividends.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1973 24.48
1974 25.69
1975 28.23
1976 28.36
1977 28.94
1978 30.13
1979 30.73
1980 32.00
1981 32.35
1982 33.46
1983 33.64
1984 33.75
1985 34.20
1986 35.67
1987 35.89
1988 34.61
1989 34.14
1990 34.37
1991 36.90
1992 38.29
1993 39.53
1994 38.83
1995 43.63
1996 41.31
1997 40.16
1998 38.90
1999 38.58
2000 37.65
2001 37.66
2002 37.90
2003 38.26
2004 37.43
2005 37.43
2006 36.83
2007 36.20
2008 36.92
2009 40.10
2010 40.47
2011 38.92
2012 39.24
2013 39.38
2014 38.98
2015 38.37
2016 37.94
2017 37.04
2018 36.71
2019 36.62

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance