Belgium | Households and NPISHs Final consumption expenditure, PPP (current international $)

This indicator provides values for households and NPISHs final consumption expenditure expressed in current international dollars converted by purchasing power parity (PPP) conversion factor. 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. PPP conversion factor is a spatial price deflator and currency converter that eliminates the effects of the differences in price levels between countries. From July 2020, “Households and NPISHs final consumption expenditure: linked series (current LCU)” [NE.CON.PRVT.CN.AD] is used as underlying expenditure in local currency unit so that it’s in line with time series of PPP conversion factor, private consumption (LCU per international $), which are extrapolated with linked CPI. Statistical concept and methodology: Typically, higher income countries have higher price levels, while lower income countries have lower price levels (Balassa-Samuelson effect). Market exchange rate-based cross-country comparisons of GDP at its expenditure components reflect both differences in economic outputs (volumes) and prices. Given the differences in price levels, the size of higher income countries is inflated, while the size of lower income countries is depressed in the comparison. PPP-based cross-country comparisons of GDP at its expenditure components only reflect differences in economic outputs (volume), as PPPs control for price level differences between the countries. Hence, the comparison reflects the real size of the countries. For more information on underlying households and NPISHs final consumption expenditure in local currency, please refer to the metadata for "Households and NPISHs Final consumption expenditure, PPP (current international $)" [NE.CON.PRVT.PP.CD]. For more information on underlying PPP conversion factor, please refer to the metadata for "PPP conversion factor, private consumption (LCU per international $)" [PA.NUS.PRVT.PP]. For the concept and methodology of PPP, please refer to the International Comparison Program (ICP)’s website (https://www.worldbank.org/en/programs/icp).
Publisher
The World Bank
Origin
Kingdom of Belgium
Records
63
Source
Belgium | Households and NPISHs Final consumption expenditure, PPP (current international $)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
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1989
1990 94586703425.398
1991 100701365747.57
1992 105358588238.23
1993 107498736964.22
1994 112370145672.63
1995 116544315989.28
1996 120033790117.91
1997 123455407016.88
1998 126597624312.23
1999 130953858672.07
2000 145011071850.25
2001 149756866441.95
2002 154595403389.06
2003 155343056745.56
2004 161816729764.89
2005 168463179091.87
2006 176458966548.87
2007 184296162655.03
2008 194581531139.51
2009 197019463642.92
2010 208904180828.11
2011 220029975644.79
2012 227142064498.6
2013 236573005980.05
2014 242820925810.71
2015 247220004090.86
2016 258304118629.26
2017 267251857011.02
2018 281506224429.26
2019 296337201798.29
2020 276566345040.9
2021 299313516621.01
2022 342916391455.15

Belgium | Households and NPISHs Final consumption expenditure, PPP (current international $)

This indicator provides values for households and NPISHs final consumption expenditure expressed in current international dollars converted by purchasing power parity (PPP) conversion factor. 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. PPP conversion factor is a spatial price deflator and currency converter that eliminates the effects of the differences in price levels between countries. From July 2020, “Households and NPISHs final consumption expenditure: linked series (current LCU)” [NE.CON.PRVT.CN.AD] is used as underlying expenditure in local currency unit so that it’s in line with time series of PPP conversion factor, private consumption (LCU per international $), which are extrapolated with linked CPI. Statistical concept and methodology: Typically, higher income countries have higher price levels, while lower income countries have lower price levels (Balassa-Samuelson effect). Market exchange rate-based cross-country comparisons of GDP at its expenditure components reflect both differences in economic outputs (volumes) and prices. Given the differences in price levels, the size of higher income countries is inflated, while the size of lower income countries is depressed in the comparison. PPP-based cross-country comparisons of GDP at its expenditure components only reflect differences in economic outputs (volume), as PPPs control for price level differences between the countries. Hence, the comparison reflects the real size of the countries. For more information on underlying households and NPISHs final consumption expenditure in local currency, please refer to the metadata for "Households and NPISHs Final consumption expenditure, PPP (current international $)" [NE.CON.PRVT.PP.CD]. For more information on underlying PPP conversion factor, please refer to the metadata for "PPP conversion factor, private consumption (LCU per international $)" [PA.NUS.PRVT.PP]. For the concept and methodology of PPP, please refer to the International Comparison Program (ICP)’s website (https://www.worldbank.org/en/programs/icp).
Publisher
The World Bank
Origin
Kingdom of Belgium
Records
63
Source