Share of Household Consumption at Current Purchasing Power Parities for Bolivarian Republic of Venezuela
CSHCCPVEA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.08
Year-over-Year Change
106.12%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the share of household consumption in Venezuela's total GDP, adjusted for purchasing power parity. It provides insights into the structure and performance of the Venezuelan economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The share of household consumption at current purchasing power parities is an important indicator of a country's economic development and living standards. It reflects the proportion of a nation's total economic output that is devoted to private consumption by households.
Methodology
The data is calculated by the World Bank using national accounts and purchasing power parity conversion factors.
Historical Context
This metric is widely used by economists and policymakers to analyze domestic demand and household welfare.
Key Facts
- Venezuela's household consumption share was 57.4% in 2021.
- Household consumption has declined from over 60% of GDP in the early 2000s.
- The metric accounts for differences in domestic price levels compared to the U.S.
FAQs
Q: What does this economic trend measure?
A: This metric measures the proportion of Venezuela's total economic output that is devoted to private consumption by households, adjusted for purchasing power parity.
Q: Why is this trend relevant for users or analysts?
A: The share of household consumption is an important indicator of a country's economic development and living standards, providing insights into domestic demand and welfare.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists and policymakers to analyze the structure and performance of the Venezuelan economy, particularly in the context of domestic demand and household welfare.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the World Bank, and there may be limitations in data availability or accuracy due to economic conditions in Venezuela.
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Citation
U.S. Federal Reserve, Share of Household Consumption at Current Purchasing Power Parities for Bolivarian Republic of Venezuela (CSHCCPVEA156NRUG), retrieved from FRED.