List of largest consumer markets

Last updated April 20, 2024

Below is a list of the largest consumer markets of the world, according to data from the World Bank. The countries are sorted by their household final consumption expenditure (HFCE) which represents consumer spending in nominal terms.^[1] A large (and especially larger than the whole economy (100% GDP)) percentage typically indicates the existence of an informal economy, at least in terms of income.

Country	HFCE (millions of USD, nominal)	% of GDP	Year
United States ^[2]	20,434,569	69%	2023
European Union	8,762,887	51%	2023
China	6,720,652	38%	2023
India ^[3]	2,372,016	64%	2024
Japan	2,320,919	55%	2023
Germany	2,215,427	50%	2023
United Kingdom	2,000,593	64%	2023
France	1,526,060	52%	2023
Brazil	1,311,778	63%	2023
Italy	1,280,149	59%	2023
Canada	1,149,319	56%	2023
Mexico	1,147,583	69%	2023
Russia	987,401	53%	2023
Australia	853,774	50%	2023
South Korea	843,735	49%	2023
Spain	790,988	58%	2023
Indonesia	734,858	53%	2023
Turkey	655,749	58%	2022
Switzerland	449,583	51%	2023
Netherlands	435,470	41%	2021
Poland	434,436	58%	2023
Saudi Arabia	409,066	37%	2022
Argentina	402,612	62%	2023
Philippines	332,439	75%	2022
Bangladesh	317,538	69%	2022
Nigeria	314,092	62%	2022
Belgium	310,875	50%	2023
Thailand	304,302	53%	2023
Pakistan	295,688	85%	2022
Hong Kong	267,992	70%	2023
Austria	257,599	50%	2023
Sweden	257,592	43%	2023
Colombia	251,016	75%	2019
Malaysia	218,057	60%	2019
Egypt	214,381	85%	2018
Iran	212,093	48%	2017
South Africa	211,693	60%	2019
Israel	202,887	55%	2018
Norway	180,832	45%	2019
Vietnam	178,531	68%	2019
Chile	177,850	63%	2019
United Arab Emirates	163,876	39%	2019
Denmark	161,928	47%	2019
Romania	159,034	64%	2019
Portugal	152,462	64%	2019
Iraq	146,808	63%	2019
Peru	146,529	65%	2019
Greece	142,649	68%	2019
Finland	141,340	53%	2019
Singapore	133,929	36%	2019
New Zealand	119,491	57%	2018
Ireland	118,252	30%	2019
Czech Republic	116,850	47%	2019
Ukraine	115,825	75%	2019
Kazakhstan	94,443	52%	2019
Kenya	78,786	82%	2019
Hungary	77,780	48%	2019
Algeria	74,738	44%	2019
Morocco	68,985	58%	2019
Ethiopia	65,875	69%	2019
Guatemala	65,114	85%	2019
Ecuador	64,999	61%	2019
Puerto Rico	64,276	64%	2018
Dominican Republic	61,884	70%	2019
Slovakia	59,134	56%	2019
Sri Lanka	58,216	69%	2019
Angola	57,124	56%	2018
Cuba	55,987	56%	2018
Kuwait	55,109	45%	2018
Lebanon	46,275	87%	2019
Ghana	46,241	69%	2019
Qatar	43,135	24%	2019
Bulgaria	40,443	60%	2019
Côte d'Ivoire	39,914	68%	2019
Myanmar	39,688	52%	2018
Costa Rica	39,111	63%	2019
Uruguay	37,225	66%	2019
Jordan	35,989	85%	2018
Croatia	35,108	58%	2019
Serbia	35,023	68%	2019
Belarus	34,734	55%	2019
Democratic Republic of the Congo	33,525	71%	2019
Lithuania	32,921	61%	2019
Tanzania	31,696	59%	2017
Uzbekistan	31,528	54%	2019
Panama	31,335	50%	2017
Oman	29,685	39%	2019
Tunisia	28,757	72%	2018
Bolivia	27,991	68%	2019
Cameroon	27,906	72%	2019
Slovenia	27,789	52%	2019
Azerbaijan	27,251	57%	2019
Paraguay	25,034	66%	2019
Uganda	24,373	71%	2019
El Salvador	22,437	83%	2019
Nepal	21,284	69%	2019
Luxembourg	20,968	29%	2019
Latvia	20,356	60%	2019
Honduras	20,163	80%	2019
Cambodia	18,804	69%	2019
Zimbabwe	18,729	77%	2018
Senegal	16,153	69%	2019
Cyprus	15,939	65%	2019
Estonia	15,293	49%	2019
Bosnia and Herzegovina	15,283	76%	2019
Afghanistan	15,051	79%	2019
Bahrain	14,907	40%	2018
Macao	13,657	25%	2019
Sudan	13,653	72%	2019
Palestine	13,110	90%	2018
Mali	12,706	73%	2019
Jamaica	12,558	76%	2019
Georgia	12,290	69%	2019
Iceland	12,289	51%	2019
Albania	12,263	80%	2019
Zambia	11,675	43%	2018
Armenia	11,549	84%	2019
Mauritius	10,666	75%	2019
Laos	10,383	66%	2016
Mozambique	10,346	69%	2019
Burkina Faso	10,124	64%	2019
Moldova	10,124	85%	2019
Madagascar	9,942	71%	2019
Benin	9,850	68%	2019
Botswana	9,399	51%	2019
Guinea	9,309	68%	2019
Niger	9,122	71%	2019
Namibia	9,052	73%	2019
Nicaragua	9,025	72%	2019
Haiti	8,631	102%	2019
Chad	8,609	76%	2019
Bahamas	8,568	69%	2018
North Macedonia	8,224	65%	2019
Mongolia	7,668	55%	2019
Rwanda	7,421	73%	2019
Kyrgyzstan	6,937	82%	2019
Kosovo	6,697	84%	2019
Gabon	6,433	39%	2019
Equatorial Guinea	6,379	58%	2019
Malta	6,286	43%	2019
Malawi	6,073	79%	2019
Tajikistan	5,897	82%	2017
Mauritania	4,306	57%	2019
Barbados	4,082	78%	2019
Sierra Leone	4,043	99%	2018
Montenegro	3,950	72%	2019
Liberia	3,915	128%	2019
Togo	3,590	66%	2019
Guam	3,455	58%	2018
Congo	3,351	31%	2019
Eswatini	3,132	66%	2018
Brunei	2,755	20%	2019
US Virgin Islands	2,527	66%	2017
Guyana	2,495	58%	2019
Burundi	2,336	78%	2016
Central African Republic	1,916	86%	2019
Aruba	1,858	61%	2017
Lesotho	1,836	75%	2019
Gambia	1,603	91%	2019
Bhutan	1,480	60%	2018
Djibouti	1,473	44%	2019
Guinea-Bissau	1,346	100%	2019
Belize	1,287	68%	2019
Cape Verde	1,220	62%	2019
Greenland	1,105	36%	2018
Seychelles	1,085	64%	2019
Comoros	1,076	91%	2018
East Timor	1,063	68%	2018
Northern Mariana Islands	616	47%	2018
San Marino	570	37%	2017
American Samoa	472	74%	2018
Saint Kitts and Nevis	450	43%	2019
Palau	197	69%	2018
Marshall Islands	163	74%	2018
Kiribati	151	77%	2018
World	48,793,177	58%	2018

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References

↑ "Household final consumption expenditure (current US$) | Data". data.worldbank.org. Retrieved 7 April 2018.
↑ "Personal Consumption Expenditures". 27 July 2018.
↑ "Market outlook: Where is the Indian market headed in 2023?".

Sources

United Nations Statistics Division - National Accounts Main Aggregates Database

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[1] "Household final consumption expenditure (current US$) | Data". data.worldbank.org. Retrieved 7 April 2018.

[2] "Personal Consumption Expenditures". 27 July 2018.

[3] "Market outlook: Where is the Indian market headed in 2023?".

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v t e Consumption
Topics	Consumption function Final consumption expenditure Instant gratification Intertemporal consumption Random walk hypothesis Autonomous consumption Induced consumption Conspicuous consumption
Theories	Absolute income hypothesis Life-cycle hypothesis Permanent income hypothesis Random walk model of consumption Relative income hypothesis
Lists	List of largest consumer markets

List of largest consumer markets

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