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

Households and NPISHs final consumption expenditure (% of GDP) in Sweden was 43.88 as of 2020. Its highest value over the past 60 years was 55.83 in 1960, while its lowest value was 43.88 in 2020.

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
1960 55.83
1961 55.28
1962 54.75
1963 54.40
1964 52.54
1965 52.49
1966 52.42
1967 52.06
1968 51.98
1969 51.67
1970 50.42
1971 50.24
1972 50.53
1973 50.10
1974 50.58
1975 49.11
1976 50.21
1977 50.61
1978 50.32
1979 49.63
1980 48.72
1981 49.73
1982 50.53
1983 48.92
1984 47.64
1985 48.04
1986 48.40
1987 49.46
1988 49.38
1989 48.09
1990 47.63
1991 49.29
1992 49.74
1993 50.85
1994 49.84
1995 48.02
1996 48.04
1997 47.96
1998 47.33
1999 47.51
2000 47.52
2001 47.05
2002 47.13
2003 46.94
2004 46.34
2005 46.54
2006 45.34
2007 44.91
2008 45.16
2009 47.57
2010 46.90
2011 46.48
2012 46.89
2013 47.04
2014 46.81
2015 46.04
2016 45.86
2017 45.72
2018 45.70
2019 44.94
2020 43.88

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