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2022 Expenditure (million $)

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$200K

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$1M

$1.2M

$1.4M

$1.6M

$1.8M

$2M

$2.2M

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Consumer Spending by Country 2024

Consumer spending is the total amount of money that an individual or household spends on products and services. It includes multiple components, based on whether the spending is affected by income. Consumer spending is a measure of a country's buying power, which is in turn a measure of that country's overall economy.

Components

The primary components of consumer spending include induced consumption and autonomous consumption.

Induced consumption is the consumption of products and services that changes when a consumer experiences a change in disposable income. These expenditures aren't generally considered essential for survival.

On the other hand, autonomous consumption, also known as exogenous consumption, is consumption that doesn't vary with changes in income. It still occurs even when the consumer has no income, such as a rent or mortgage payment. While an increase in income may cause a consumer to obtain more expensive housing, this expense is still considered autonomous. Autonomous consumption is considered a form of dissaving when the consumer's income is actually zero, because it must be financed by savings or borrowing. Unlike induced consumption, autonomous consumption doesn't systematically fluctuate with income.

HFCE

Household final consumption expenditure (HFCE) is a measure of income that represents consumer spending. It includes all the expenditures incurred by households on products and services, even when their cost isn't economically significant. It also includes imputed expenditures, such as the rent of services. For example, the rent of housing is usually a household's most important imputed expenditure.

HFCE includes all housing expenses, not just the most common ones like mortgage and rent payments. It also includes communal arrangements such as boarding houses, retirement homes, nursing homes and prisons.

The following data is from the World Bank showing the world's top ten consumer markets by country, as measured by HFCE. It shows the country, most recent year for which data is available and that country's HFCE in millions of US dollars:

Country
2022 Expenditure
Germany$2,083,917
India$2,049,573
United Kingdom$1,931,272
France$1,497,840
Italy$1,212,875
Brazil$1,211,040
Canada$1,161,030
Russia$1,082,143
Mexico$964,862
Australia$817,199

In some countries, the HFCE may be larger than its entire economy, as measured by its Gross Domestic Product (GDP). This apparent impossibility generally indicates the country only has an informal economy, at least in terms of income.

  • Expenditure values rounded to the nearest million dollars.

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Country
2022 Expenditure (million $)
2021 Expenditure (million $)
2020 Expenditure (million $)
Germany$2,083,917$2,097,994$1,957,172
India$2,049,573$1,925,314$1,636,928
United Kingdom$1,931,272$1,891,938$1,619,082
France$1,497,840$1,557,796$1,406,793
Italy$1,212,875$1,211,900$1,101,009
Brazil$1,211,040$1,006,518$932,073
Canada$1,161,030$1,088,747$942,307
Russia$1,082,143$904,188$768,870
Mexico$964,862$830,998$687,750
Australia$817,199$786,528$693,048
South Korea$805,580$835,502$762,812
Spain$797,013$802,791$716,500
Indonesia$699,624$660,039$624,142
Turkey$523,726$452,864$408,890
Netherlands$432,999$425,278$383,195
Switzerland$407,402$399,724$381,888
Argentina$402,970$296,692$245,943
Saudi Arabia$395,495$368,754$324,987
Egypt$393,422$365,239$321,048
Poland$389,910$382,744$338,862
Pakistan$324,176$290,281$244,891
Bangladesh$317,891$286,288$250,332
Philippines$307,001$296,593$271,563
Belgium$292,643$290,670$259,514
Thailand$270,146$264,413$265,483
Sweden$259,905$280,132$240,599
Israel$258,784$240,166$200,111
South Africa$256,080$258,425$211,096
Colombia$246,755$231,152$191,327
Hong Kong$240,281$239,703$228,846
Austria$238,899$239,547$218,347
Malaysia$234,023$215,983$205,295
Chile$192,225$195,282$148,361
Romania$190,551$178,120$153,595
Norway$187,748$188,226$159,726
Iran$172,372$154,929$110,924
Denmark$169,283$181,621$164,216
Portugal$161,362$161,147$146,710
Peru$155,614$136,997$129,210
Greece$150,561$145,975$132,014
Finland$145,642$151,840$139,067
Singapore$139,336$124,929$112,156
Czech Republic$136,428$127,857$111,506
Ireland$120,567$119,235$105,874
Ukraine$105,848$138,061$114,778
Ethiopia$98,099$80,354$75,407
Hungary$89,147$87,938$77,820
Kenya$86,629$82,822$76,942
Guatemala$84,041$73,912$64,875
Puerto Rico$82,416$72,529$65,470
Morocco$81,702$84,951$71,669
Algeria$79,447$72,295$66,856
Dominican Republic$75,132$62,589$54,950
Ecuador$71,730$65,165$58,837
Slovakia$71,006$67,373$61,415
Bulgaria$53,278$49,010$41,055
Ghana$51,582$55,499$49,149
Uzbekistan$49,777$41,614$35,461
DR Congo$48,503$35,384$33,665
Sri Lanka$46,135$54,152$53,031
Costa Rica$43,403$40,247$38,972
Serbia$42,955$41,593$35,542
Tanzania$41,637$38,181$36,047
Lithuania$41,178$38,727$33,105
Sudan$41,085$29,166$21,485
Croatia$41,000$39,543$33,936
Belarus$39,344$35,444$32,058
Nepal$35,007$31,524$28,490
Tunisia$34,459$34,483$31,478
Slovenia$34,185$31,567$6,908
Azerbaijan$34,164$28,708$25,994
Uganda$32,334$29,214$26,795
Cameroon$31,921$33,015$29,897
Myanmar$28,147$30,940$40,830
El Salvador$28,088$24,795$20,090
Paraguay$27,736$25,072$2,511
Honduras$27,293$24,170$19,449
Luxembourg$24,989$25,860$22,513
Latvia$24,975$22,733$19,627
Haiti$20,109$20,383$14,087
Cambodia$19,670$17,572$17,983
Palestine$19,592$16,028$13,779
Estonia$19,042$17,906$15,596
Georgia$18,911$15,551$12,789
Senegal$18,672$18,276$16,860
Cyprus$17,444$16,845$15,420
Guinea$15,652$11,680$10,270
Iceland$14,537$13,294$11,209
Albania$14,304$13,744$12,228
Mali$13,877$14,181$12,821
Armenia$13,450$9,982$8,523
Nicaragua$12,525$10,567$8,394
Moldova$12,316$11,441$9,500
Somalia$12,042$10,720$9,989
Macau$11,855$13,009$11,869
Jamaica$11,207$10,470$10,257
Madagascar$11,081$11,149$10,047
Benin$10,623$11,904$10,652
Namibia$9,857$9,439$7,320
Rwanda$9,835$8,015$7,633
Niger$9,806$10,745$9,791
North Macedonia$9,524$9,362$8,165
Mauritius$9,073$8,395$8,286
Chad$8,881$9,639$9,645
Bahamas$8,799$8,033$6,471
Mongolia$8,780$8,102$8,051
Botswana$8,533$8,104$7,262
Malta$7,721$7,471$6,592
Equatorial Guinea$6,904$7,498$6,907
Gabon$6,147$6,649$6,429
Togo$5,959$6,337$5,482
Republic of the Congo$5,922$6,073$5,313
Mauritania$5,046$4,967$4,507
Montenegro$4,645$4,279$3,874
Brunei$3,773$3,481$2,853
Bermuda$3,685$3,430$3,288
Burundi$2,275$2,080$1,984
Central African Republic$2,269$2,287$2,122
Gambia$1,865$1,714$1,680
Cape Verde$1,595$1,302$1,152
Belize$1,470$1,482$1,211
Comoros$1,240$1,257$1,225
Samoa$692$684$627
Seychelles$585$486$483
China$6,792,012$5,610,764
United States$15,902,575$144,116,166
Nigeria$273,984$276,222
Japan$2,678,586$2,726,763
Vietnam$202,965$193,991
Iraq$84,597$94,614
Angola$28,980$28,071
Mozambique$10,824$9,231
Ivory Coast$43,390
Syria$11,207
Zambia$7,259$6,969
Kazakhstan$99,444$90,680
Zimbabwe$21,300$17,380
Bolivia$27,154$25,436
Cuba$54,345
Tajikistan$7,183$6,312
United Arab Emirates$140,386
Sierra Leone$4,506$4,111
Libya$9,730$28,307
Kyrgyzstan$7,428$5,848
New Zealand$145,546$120,920
Lebanon$27,540$31,759
Oman$39,081$33,459
Bosnia and Herzegovina$16,102$14,549
Qatar$39,319$37,513
Lesotho$1,886
Bahrain$15,383$14,586
Timor Leste$1,074$1,073
Eswatini$3,120$2,617
Djibouti$1,752
Fiji$2,852
Bhutan$1,610$1,458
Solomon Islands$966
Maldives$1,903$1,900
French Polynesia$3,900
Barbados$3,888$3,786
Guam$3,801$3,544
Kiribati$154
Tonga$512$447
Aruba$1,810$1,651
United States Virgin Islands$2,762
Antigua and Barbuda$823
Greenland$1,159$1,088
Faroe Islands$1,565$1,390
Northern Mariana Islands$644
American Samoa$598$534
Marshall Islands$173$171
San Marino$615$559
showing: 172 rows

Which country has the highest consumer spending?

The country with the highest GDP and the highest consumer spending rate is the United States. China comes in at a distant second place.

Frequently Asked Questions

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