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

Households and NPISHs final consumption expenditure (% of GDP) in Peru was 64.94 as of 2020. Its highest value over the past 60 years was 77.31 in 1992, while its lowest value was 52.39 in 1960.

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 52.39
1961 52.94
1962 53.86
1963 56.69
1964 54.51
1965 57.12
1966 55.85
1967 57.91
1968 62.98
1969 62.82
1970 68.53
1971 68.76
1972 70.38
1973 67.01
1974 68.24
1975 72.11
1976 72.10
1977 71.59
1978 66.97
1979 59.43
1980 53.45
1981 57.97
1982 55.91
1983 59.82
1984 60.47
1985 59.16
1986 66.52
1987 66.93
1988 68.28
1989 68.12
1990 74.64
1991 77.24
1992 77.31
1993 76.81
1994 72.34
1995 71.11
1996 72.07
1997 70.49
1998 71.36
1999 70.20
2000 70.92
2001 71.98
2002 71.57
2003 70.57
2004 68.00
2005 64.93
2006 60.14
2007 60.16
2008 62.43
2009 63.78
2010 61.73
2011 60.42
2012 62.24
2013 63.10
2014 64.57
2015 65.32
2016 65.00
2017 64.15
2018 63.80
2019 64.71
2020 64.94

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