Luxembourg | 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
Grand Duchy of Luxembourg
Records
63
Source
Luxembourg | General government final consumption expenditure (constant 2015 US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 2077407555.8906
1971 2139124210.4316
1972 2228048340.0766
1973 2304649110.0453
1974 2391109011.5602
1975 2470174009.659
1976 2539285567.616
1977 2613420999.9418
1978 2660347847.6508
1979 2719694582.6574
1980 2803594837.9336
1981 2842842746.9266
1982 2884935446.9711
1983 2939636651.5047
1984 3003533498.8758
1985 3063108793.5379
1986 3259341681.4254
1987 3573775415.6027
1988 3728585749.2316
1989 4032715437.1937
1990 4301960930.3617
1991 4475495403.5328
1992 4619114080.634
1993 4860848092.166
1994 4908651455.0586
1995 5138305090.2375
1996 5273882017.9074
1997 5461587189.7176
1998 5626078023.3172
1999 5975332710.0539
2000 6196907981.8762
2001 6620169397.4433
2002 6837537396.3844
2003 6999156810.623
2004 7222720329.5453
2005 7438989910.7246
2006 7445759048.8703
2007 7475988837.0883
2008 7715891042.8379
2009 8071638599.0105
2010 8376838966.9121
2011 8611943638.9226
2012 8942574042.2773
2013 9304955376.023
2014 9410507775.3598
2015 9592329200.3109
2016 9698586140.3332
2017 10090709076.625
2018 10637384939.555
2019 10932486521.126
2020 11728507654.018
2021 12324039807.574
2022 12647392915.879

Luxembourg | 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
Grand Duchy of Luxembourg
Records
63
Source