Private consumption, also referred to as personal consumption, consumer expenditure, or personal consumption expenditures (PCE), measures consumer spending on goods and services. Private consumption includes all purchases made by consumers, such as food, housing (rents), energy, clothing, health, leisure, education, communication, transport as well as hotels and restaurant services. It also includes durable goods (such as cars), but not households’ purchases of dwellings, which are counted as household investment.
Consumer spending accounts for between half and two-thirds of Gross Domestic Product (GDP) in most countries. Since private consumption accounts for the largest part of GDP, it is the key engine that drives economic growth.
This chart displays for Major Economies, Latin America, Euro Area, South Asia, Middle East & North Africa from 2010 to 2023.
Private Consumption (annual variation in %) Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Albania | 3.2 | -5.6 | 4.4 | 6.1 | 3.2 |
| Algeria | 2.6 | -4.8 | 1.7 | 3.6 | 4.1 |
| Angola | -6.2 | -11.3 | 3.7 | 4.0 | 3.1 |
| Argentina | -6.1 | -12.2 | 9.5 | 9.4 | 1.0 |
| Armenia | 11.5 | -13.8 | 2.7 | 5.6 | 5.6 |
| Australia | 0.9 | -6.0 | 5.0 | 7.4 | 2.5 |
| Austria | 0.7 | -7.6 | 4.6 | 5.2 | -0.3 |
| Azerbaijan | 5.9 | -8.7 | 3.6 | 4.4 | - |
| Bahrain | 1.9 | -4.4 | 18.9 | 8.4 | - |
| Bangladesh | 4.9 | 3.0 | 8.0 | 7.5 | 2.0 |
| Belarus | 5.1 | -1.5 | 4.6 | -0.1 | 9.1 |
| Belgium | 1.4 | -7.2 | 5.6 | 3.6 | 0.6 |
| Belize | 4.2 | -12.0 | 15.5 | 9.9 | 2.0 |
| Bolivia | 3.7 | -7.9 | 5.3 | 3.4 | 3.2 |
| Bosnia-Herz. | 2.3 | -3.5 | 4.2 | 1.9 | 1.1 |
| Botswana | 3.1 | 2.3 | 2.5 | 3.1 | 5.6 |
| Brazil | 2.6 | -4.6 | 3.0 | 4.1 | 3.2 |
| Brunei | 5.9 | 5.3 | 21.9 | 8.3 | 11.1 |
| Bulgaria | 6.0 | -0.4 | 8.5 | 3.9 | 1.4 |
| Cambodia | 3.4 | -1.9 | -2.4 | 5.2 | 4.6 |
| Cameroon | 4.1 | 0.3 | 4.7 | 4.3 | 3.5 |
| Canada | 1.5 | -6.4 | 5.9 | 5.5 | 1.8 |
| CdI | 4.5 | 1.4 | 5.3 | 3.4 | 2.8 |
| Chile | 0.7 | -7.4 | 21.0 | 1.6 | -5.2 |
| China | 6.4 | -2.5 | 12.2 | 0.8 | - |
| Colombia | 4.1 | -5.0 | 14.7 | 10.7 | 0.8 |
| Costa Rica | 1.7 | -6.9 | 8.3 | 2.6 | 5.0 |
| Croatia | 4.0 | -5.2 | 10.9 | 6.9 | 3.2 |
| Cuba | -0.9 | -8.7 | -2.7 | 2.1 | - |
| Cyprus | 4.5 | -6.1 | 5.7 | 10.0 | 6.0 |
| Czech Republic | 3.0 | -6.6 | 4.1 | 0.4 | -2.9 |
| Denmark | 1.8 | -1.3 | 6.8 | -2.1 | 1.4 |
| Dominican Republic | 4.6 | -3.4 | 6.6 | 5.1 | 2.5 |
| DR Congo | 5.5 | -1.3 | 4.5 | 3.1 | 3.5 |
| Ecuador | 2.1 | -10.6 | 11.3 | 7.4 | 1.4 |
| Egypt | -0.1 | 4.7 | 7.3 | 6.2 | 3.6 |
| El Salvador | 1.7 | -8.1 | 9.5 | 2.5 | 3.4 |
| Estonia | 4.2 | -1.0 | 7.2 | 3.1 | -1.5 |
| Ethiopia | 8.3 | 8.7 | 5.7 | 7.2 | - |
| Euro Area | 1.4 | -7.9 | 4.7 | 4.9 | 0.7 |
| Finland | 0.4 | -3.4 | 3.2 | 0.9 | 0.5 |
| France | 1.7 | -6.5 | 5.2 | 3.0 | 0.9 |
| Georgia | 5.2 | 10.1 | 12.3 | -2.8 | 4.7 |
| Germany | 1.7 | -6.8 | 2.3 | 5.6 | -0.4 |
| Ghana | 14.2 | 1.7 | 6.2 | 5.7 | 14.3 |
| Greece | 2.3 | -6.1 | 5.4 | 8.8 | 1.7 |
| Guatemala | 4.7 | -1.6 | 8.5 | 4.3 | 4.4 |
| Haiti | -1.0 | -4.0 | 1.2 | -0.7 | 3.0 |
| Honduras | 4.8 | -7.6 | 16.8 | 5.7 | 4.3 |
| Hong Kong | -0.8 | -10.6 | 5.6 | -2.2 | 7.7 |
| Hungary | 5.3 | -1.3 | 5.1 | 6.5 | -1.9 |
| Iceland | 1.7 | -3.1 | 6.9 | 8.3 | 0.6 |
| India | 5.2 | -5.3 | 11.7 | 6.8 | 4.0 |
| Indonesia | 5.0 | -2.6 | 2.0 | 4.9 | 4.8 |
| Iran | -4.7 | 0.5 | 3.9 | 8.7 | 4.1 |
| Iraq | 1.6 | -5.5 | 2.6 | 2.7 | - |
| Ireland | 2.9 | -9.5 | 8.9 | 10.7 | 4.8 |
| Israel | 4.0 | -7.4 | 11.3 | 7.4 | -0.9 |
| Italy | 0.0 | -10.6 | 5.8 | 5.0 | 1.0 |
| Jamaica | 1.0 | - | - | - | - |
| Japan | -0.6 | -4.4 | 0.7 | 2.1 | 0.8 |
| Jordan | -1.4 | 3.1 | 3.6 | - | - |
| Kazakhstan | 6.1 | -3.7 | 6.3 | 2.0 | 7.6 |
| Kenya | 5.0 | -1.5 | 6.2 | 3.1 | 6.1 |
| Korea | 2.4 | -4.6 | 3.7 | 4.2 | 1.8 |
| Kosovo | 5.6 | 2.5 | 7.3 | 3.4 | 3.1 |
| Kuwait | 2.4 | -11.3 | 7.6 | 1.7 | - |
| Kyrgyzstan | 3.5 | 0.0 | 22.9 | 35.1 | 27.7 |
| Latvia | -0.1 | -4.8 | 8.1 | 5.1 | -1.0 |
| Lebanon | -2.4 | -14.0 | 2.1 | 2.3 | 0.2 |
| Lithuania | 2.8 | -3.0 | 8.0 | 2.0 | -0.4 |
| Luxembourg | 2.5 | -8.5 | 11.3 | 2.3 | 4.0 |
| Malaysia | 7.7 | -3.9 | 1.8 | 11.3 | 4.7 |
| Malta | 5.6 | -11.3 | 12.0 | 11.2 | 12.4 |
| Mexico | 0.9 | -10.0 | 8.6 | 4.8 | 4.2 |
| Moldova | 2.9 | -7.1 | 16.2 | -3.6 | -0.7 |
| Mongolia | 5.8 | 2.1 | -5.9 | 8.1 | 9.7 |
| Montenegro | 3.1 | -4.6 | 4.1 | 9.7 | 6.5 |
| Morocco | 2.2 | -5.6 | 6.9 | -0.7 | 1.9 |
| Mozambique | 5.9 | -0.6 | 5.8 | 7.2 | 9.1 |
| Myanmar | 0.4 | 2.0 | -25.0 | 1.7 | - |
| Netherlands | 1.0 | -6.1 | 4.5 | 6.9 | 0.8 |
| New Zealand | 3.2 | -1.7 | 7.9 | 4.1 | 1.0 |
| Nicaragua | -1.8 | -0.3 | 8.9 | 6.0 | 7.3 |
| Nigeria | -1.1 | -1.7 | 25.6 | -4.1 | -10.9 |
| North Macedonia | 3.7 | -3.6 | 8.6 | 5.5 | 1.2 |
| Norway | 1.0 | -6.2 | 5.1 | 7.8 | -0.9 |
| Oman | -3.8 | 9.6 | 1.7 | 7.1 | 5.4 |
| Pakistan | 5.6 | -2.9 | 9.5 | 7.1 | 2.7 |
| Panama | 6.9 | -7.9 | 6.7 | 3.0 | 4.8 |
| Paraguay | 1.8 | -3.6 | 6.1 | 2.3 | 2.7 |
| Peru | 3.2 | -9.9 | 12.4 | 3.6 | 0.1 |
| Philippines | 5.9 | -8.0 | 4.2 | 8.3 | 5.6 |
| Poland | 3.3 | -3.5 | 6.5 | 5.1 | -0.3 |
| Portugal | 3.6 | -6.8 | 5.0 | 5.5 | 1.9 |
| Puerto Rico | 4.4 | -5.0 | 22.2 | 6.6 | 3.2 |
| Qatar | 2.9 | -10.5 | - | - | - |
| Romania | 3.0 | -3.8 | 7.3 | 5.2 | 2.8 |
| Russia | 3.8 | -5.9 | 9.9 | -1.1 | 6.5 |
| Rwanda | 2.0 | 1.3 | 6.0 | 12.1 | 8.0 |
| Saudi Arabia | 6.5 | -8.0 | 9.5 | 4.9 | 5.3 |
| Senegal | 3.8 | 2.3 | 3.4 | 3.5 | 7.4 |
| Serbia | 3.6 | -2.0 | 7.6 | 3.5 | 0.6 |
| Singapore | 2.7 | -13.3 | 8.1 | 8.2 | 3.8 |
| Slovakia | 2.9 | 0.7 | 2.9 | 5.0 | -3.1 |
| Slovenia | 5.5 | -6.2 | 10.5 | 5.0 | 0.2 |
| South Africa | 1.3 | -6.1 | 6.2 | 2.5 | 0.7 |
| Spain | 1.0 | -12.2 | 7.2 | 4.9 | 1.7 |
| Sri Lanka | 3.8 | -5.8 | 2.7 | -0.5 | -1.6 |
| Sudan | -0.6 | -3.4 | -0.9 | -0.8 | -18.0 |
| Sweden | 0.8 | -3.1 | 5.8 | 2.9 | -2.0 |
| Switzerland | 1.2 | -3.4 | 2.2 | 4.3 | 1.5 |
| Taiwan | 2.5 | -2.4 | -0.1 | 4.0 | 7.9 |
| Tajikistan | 5.0 | 3.3 | 4.6 | 15.5 | - |
| Tanzania | 2.7 | 5.3 | 4.9 | 2.2 | 2.7 |
| Thailand | 4.0 | -0.8 | 0.6 | 6.2 | 7.1 |
| Trinidad and Tobago | 0.1 | 0.4 | 0.4 | 0.2 | - |
| Tunisia | 2.3 | -2.1 | 2.4 | 2.2 | -0.6 |
| Turkey | 1.5 | 3.2 | 15.4 | 19.0 | 13.6 |
| Turkmenistan | -5.2 | -2.0 | 4.6 | 1.3 | - |
| UAE | 6.5 | -1.1 | 2.5 | 19.4 | 14.1 |
| Uganda | 8.8 | -2.9 | 6.5 | 7.5 | 2.5 |
| Ukraine | 10.9 | 1.7 | 6.9 | -28.7 | 6.3 |
| United Kingdom | 1.1 | -13.1 | 7.2 | 7.4 | 0.5 |
| United States | 2.1 | -2.5 | 8.8 | 3.0 | 2.5 |
| Uruguay | 0.9 | -8.4 | 3.2 | 5.7 | 3.6 |
| Uzbekistan | 6.0 | -2.4 | 11.6 | 11.2 | 6.2 |
| Venezuela | -35.9 | -12.3 | 2.3 | 6.3 | - |
| Vietnam | 7.0 | 0.4 | 2.2 | 7.7 | 3.5 |
| Yemen | 6.5 | -1.6 | -3.1 | 0.8 | - |
| Zambia | -4.7 | -11.2 | -11.0 | 16.1 | - |
| Zimbabwe | -5.8 | -2.3 | 1.5 | 4.5 | 2.1 |