America countries

710,600,000
Antigua and Barbuda: General government final consumption expenditure (current LCU) 80,100,000 April 17, 2021

Antigua and Barbuda: General government final consumption expenditure (current LCU)

Name General government final consumption expenditure (current LCU)
Aggregation method Gap-filled total
Region Карибский регион
Country Antigua and Barbuda

Statistics: General government final consumption expenditure (current LCU)

Frequency Annual
Date 1993 - 2018
Previous value 630,500,000 (2017)
Value 710,600,000 (2018)

Definition: General government final consumption expenditure (current LCU)

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 current local currency.

Chart - Antigua and Barbuda: General government final consumption expenditure (current LCU) (1993 - 2018)

Development relevance: General government final consumption expenditure (current LCU)

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: General government final consumption expenditure (current LCU)

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.

Statistical concept and methodology: General government final consumption expenditure (current LCU)

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.