Estimates of actual individual consumption per capita, that captures consumption enhancing individuals’ material well-being, might provide a more accurate measure of living standards than Gross Domestic Product per capita that includes imports and exports, investment and government consumption beyond services provided that benefit individuals. International Comparison Program estimates suggest that actual individual consumption per capita for major economies is between two thirds and a quarter lower than GDP per capita in purchasing power terms since it excludes output of non-residents in each country, investment and the contribution of natural resources. For South Africa, actual individual consumption per capita is 72% of the level of GDP per capita.
