Global Household Final Consumption by Country

In 2023, Colombia exhibited the highest household final consumption as a percentage of GDP at 74.07%, followed by the United States at 68.12%. Other notable high performers included South Africa and Costa Rica. Conversely, Ireland and Luxembourg showcased the lowest consumption shares. While Colombia increased consumption significantly, countries like Brazil, the United Kingdom, and Australia saw noticeable reductions. Japan and India achieved modest gains. Over the past five years, significant fluctuations have shaped trends, particularly in developed economies, as seen with Canada and European countries experiencing variable declines.

Looking forward, countries experiencing growth in consumption might focus on enhancing disposable income and consumer confidence. Increasing consumption in emerging markets like India and Indonesia is crucial, while developed countries may stabilize after post-pandemic fluctuations. Observing technological adaptation and economic shifts could further influence global consumption patterns.