Lower middle income | General government final consumption expenditure (constant 2015 US$)

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. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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. Measures of growth in consumption and capital formation are subject to two kinds of inaccuracy. The first stems from the difficulty of measuring expenditures at current price levels. The second arises in deflating current price data to measure volume growth, where results depend on the relevance and reliability of the price indexes and weights used. Measuring price changes is more difficult for investment goods than for consumption goods because of the one-time nature of many investments and because the rate of technological progress in capital goods makes capturing change in quality difficult. (An example is computers - prices have fallen as quality has improved.) To obtain government consumption in constant prices, countries may deflate current values by applying a wage (price) index or extrapolate from the change in government employment. Neither technique captures improvements in productivity or changes in the quality of government services. 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.
Publisher
The World Bank
Origin
Lower middle income
Records
63
Source
Lower middle income | General government final consumption expenditure (constant 2015 US$)
year value
1960 47261201804.759
1961 46956758274.938
1962 48576866945.723
1963 56124798086.827
1964 61283465468.194
1965 66393138726.652
1966 70553835156.523
1967 74339452142.672
1968 80757825108.017
1969 88125272102.86
1970 96849879809.102
1971 110779785687.55
1972 124743322281.55
1973 130288528926.58
1974 161729060294.79
1975 190575454416.77
1976 211695647419.97
1977 212535338658.85
1978 218507710795.77
1979 220806655509.1
1980 215214627941.61
1981 219115824077.98
1982 225033542423.16
1983 229770306716.94
1984 230259108548.48
1985 242762294515.33
1986 235266540023.73
1987 239253789564.17
1988 246769250592.15
1989 251767793972.58
1990 258855789902.76
1991 267207234976.75
1992 271956845628.52
1993 290249835300.45
1994 289750832919.48
1995 295619153767.78
1996 301693440255.27
1997 312570559616.5
1998 330387874105.56
1999 338571892335.23
2000 351462155899.29
2001 360883467083.39
2002 369946688324.04
2003 383887765309.42
2004 402494265851.86
2005 422777179405.73
2006 449923001964.55
2007 466934045898.45
2008 497134161950.16
2009 537945382395.54
2010 558131521312.73
2011 585771377912.94
2012 609775224910.68
2013 623315282052.63
2014 647655192489.61
2015 687224611413.49
2016 722232356855.79
2017 767904425498.84
2018 803123863032.74
2019 823913295825.58
2020 827828993774.63
2021 873480305048.1
2022 891403263661.04

Lower middle income | General government final consumption expenditure (constant 2015 US$)

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. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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. Measures of growth in consumption and capital formation are subject to two kinds of inaccuracy. The first stems from the difficulty of measuring expenditures at current price levels. The second arises in deflating current price data to measure volume growth, where results depend on the relevance and reliability of the price indexes and weights used. Measuring price changes is more difficult for investment goods than for consumption goods because of the one-time nature of many investments and because the rate of technological progress in capital goods makes capturing change in quality difficult. (An example is computers - prices have fallen as quality has improved.) To obtain government consumption in constant prices, countries may deflate current values by applying a wage (price) index or extrapolate from the change in government employment. Neither technique captures improvements in productivity or changes in the quality of government services. 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.
Publisher
The World Bank
Origin
Lower middle income
Records
63
Source