Finland - Households and NPISHs final consumption expenditure (% of GDP)

Households and NPISHs final consumption expenditure (% of GDP) in Finland was 51.14 as of 2020. Its highest value over the past 50 years was 54.52 in 2014, while its lowest value was 47.55 in 2001.

Definition: Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1970 54.35
1971 53.69
1972 54.11
1973 52.83
1974 51.04
1975 52.84
1976 53.37
1977 53.80
1978 53.77
1979 52.75
1980 51.89
1981 51.80
1982 52.77
1983 52.58
1984 51.78
1985 52.07
1986 52.16
1987 52.15
1988 50.80
1989 50.26
1990 50.06
1991 53.18
1992 54.01
1993 53.87
1994 52.56
1995 50.96
1996 51.55
1997 50.10
1998 49.09
1999 48.84
2000 47.80
2001 47.55
2002 48.25
2003 49.65
2004 49.38
2005 49.64
2006 49.82
2007 48.58
2008 49.32
2009 52.15
2010 52.63
2011 53.16
2012 54.04
2013 54.18
2014 54.52
2015 54.47
2016 54.33
2017 53.16
2018 53.09
2019 52.57
2020 51.14

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Household final consumption expenditure is often estimated as a residual, by subtracting all other known expenditures from GDP. The resulting aggregate may incorporate fairly large discrepancies. When household consumption is calculated separately, many of the estimates are based on household surveys, which tend to be one-year studies with limited coverage. Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures. Complicating the issue, in many developing countries the distinction between cash outlays for personal business and those for household use may be blurred. Informal economic activities pose a particular measurement problem, especially in developing countries, where much economic activity is unrecorded. A complete picture of the economy requires estimating household outputs produced for home use, sales in informal markets, barter exchanges, and illicit or deliberately unreported activities. The consistency and completeness of such estimates depend on the skill and methods of the compiling statisticians.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts