Sri Lanka | Households and NPISHs final consumption expenditure (% of GDP)

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. 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 Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures.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.
Publisher
The World Bank
Origin
Democratic Socialist Republic of Sri Lanka
Records
63
Source
Sri Lanka | Households and NPISHs final consumption expenditure (% of GDP)
1960 77.03402027
1961 72.38801971
1962 73.29430205
1963 73.4314552
1964 75.26996986
1965 75.16474518
1966 75.05951781
1967 74.95429899
1968 74.84907157
1969 74.7438478
1970 74.63861241
1971 74.53338078
1972 74.4281498
1973 74.32297327
1974 74.21774431
1975 74.11250329
1976 74.00728404
1977 73.9020518
1978 73.79683581
1979 73.69160288
1980 73.58637846
1981 73.48114817
1982 73.37592455
1983 73.27070501
1984 73.16548073
1985 73.06026174
1986 72.95502413
1987 72.84979387
1988 72.7445919
1989 72.63935591
1990 72.53412227
1991 72.4289033
1992 72.32367623
1993 72.21845005
1994 72.113234
1995 72.00800573
1996 71.90278183
1997 71.79756097
1998 71.69233172
1999 71.5871041
2000 71.48186757
2001 71.37661131
2002 71.27143213
2003 71.84822998
2004 70.93757966
2005 69.01408278
2006 67.66228375
2007 67.15217979
2008 69.9505428
2009 64.44740784
2010
2011
2012
2013
2014
2015 63.94474828
2016 62.20013604
2017 59.11215112
2018 60.25096785
2019 62.69719724
2020 62.80333101
2021 61.19055753
2022 62.00706021

Sri Lanka | Households and NPISHs final consumption expenditure (% of GDP)

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. 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.
Publisher
The World Bank
Origin
Democratic Socialist Republic of Sri Lanka
Records
63
Source