Laos: Household consumption, percent of GDP

The latest value from 2016 is 65.69 percent, a decline from 71.23 percent in 2015. In comparison, the world average is 63.50 percent, based on data from 169 countries. Historically, the average for Laos from 1984 to 2016 is 77.94 percent. The minimum value, 65.69 percent, was reached in 2016 while the maximum of 93.91 percent was recorded in 1988. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: 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.