Sunday, August 30, 2009

Comparing private domestic consumption

Among all major developing economies, India has the largest private domestic consumption as share of the GDP, at 57% in 2008.

This compares favorably with the developed economies, whereas China has an astonishingly low 37% share (though in absolute terms, private consumption there totaled $890 billion in 2007, making the country the world’s fifth-largest consumer market, behind the United States, Japan, the United Kingdom, and Germany).

(HT: Paul Kedrosky, McKinsey Global Institute)

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