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Key Facts: The Global Rise of Consumers

Private consumption is rising rapidly in the world’s emerging markets.

February 9, 2015

Credit: Trey Ratcliff - www.flickr.com

1. While 60% of the world’s population lives in Asia, that continent currently accounts for only about 28% of private (household) consumption globally.

2. Most Asian countries have a long way to go before reaching U.S. rates of private household consumption, which stood at 69% of national GDP in 2012.

3. At 61% of GDP, Japan’s private consumption matches the U.S. rate reached back in 1980.

4. Private consumption levels, as a share of GDP, is at or rapidly approaching the U.S.’s 1980 rate in several other major emerging markets. India stands at 57%, while Indonesia is at 55%.

Source: United Nations Statistical Division with additional analysis by The Globalist Research Center

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Takeaways

Private consumption is rising rapidly in the world’s emerging markets.

Asia currently accounts for only about 28% of private consumption globally.

Private consumption in most Asian countries has a long way to go before reaching US rates.