Households and NPISHs Final consumption expenditure, PPP (constant 2021 international $)

This metric represents the aggregated monetary value of goods and services acquired by households and non-profit institutions serving households, reflecting the consumer demand dynamics within an economy. It encompasses the purchase of both essential and durable goods, such as vehicles and electronics, while excluding residential real estate transactions but accounting for imputed rents from owner-occupied housing. Additionally, it incorporates fees paid to governmental bodies for permits and licenses, offering a comprehensive view of household financial engagement. By converting expenditures into constant 2017 international dollars through purchasing power parity rates, this measure provides a clearer picture of real consumption patterns, allowing for better cross-country comparisons and insights into living standards and economic well-being over time. Source: