Media ININ Economy We Trust
01-09-2019 / WAM
The per capita private consumption expenditure in the UAE increased to about 63 thousand dirhams in 2019, an increase of 14.1% compared with 55.2 thousand dirhams in 2018 and based on these official data contained in the report of the Federal Competitiveness and Statistics has increased the average monthly expenditure per capita To AED 5250 compared to AED 4,600 during the same period.
The increase in the annual and monthly expenditure of individuals came after a significant increase in private consumption expenditure in 2018, which amounted to 586.2 billion dirhams, a growth of 14.2% compared to 513.4 billion dirhams in 2017.
According to economic concepts, private consumer spending reflects the extent to which individuals spend on durable goods such as cars, furniture and non-durable goods such as food and consumer goods, in addition to spending on school services, water, electricity and other basic and luxury services.
According to official figures, private consumption expenditure accounted for about 40.6% of GDP at constant prices in 2018, which amounted to about 1.442 trillion dirhams.
Government spending reached AED 199.8 billion in 2018, a growth of 3.4% compared to AED 193.16 billion in 2017.
According to economic concepts, government consumer spending reflects the total expenditure of the state to provide consumer services, such as health, education, culture, defense, security and justice, because the state is consumed when spending to meet the general needs of the population in the country.
It is noteworthy that private consumption and government are the main engine of the economy of any country.
