Question –The table below gives information on consumer spending on different items in five different countries in 2002.
Summarise the information by selecting and reporting the main features, and make comparisons where relevant.
Write at least 150 words.
In 2002, consumer spending varied significantly across five diverse countries, as depicted in the table. The data reveals insights into the allocation of financial resources on various items, offering a glimpse into the economic priorities of these nations.
The first observation from the table is that the United States led in overall consumer spending with a total of $6.2 trillion. Housing expenses claimed the lion’s share at $1.8 trillion, reflecting the importance Americans placed on accommodation. In contrast, the United Kingdom exhibited a noteworthy emphasis on recreation and culture, spending $280 billion, significantly higher than the other countries.
While all countries allocated a substantial portion of their budget to food and beverages, Japan stood out with a remarkable $760 billion expenditure in this category. Germany, on the other hand, demonstrated a frugal approach, spending a mere $420 billion on the same.
The data concludes with a clear indication that despite commonalities, each country had unique spending patterns shaped by cultural, economic, and societal factors. Understanding these variations is crucial for policymakers and businesses alike, providing valuable insights into the preferences and priorities of consumers across the globe.
