Norway - Household final consumption expenditure, etc. (% of GDP)

Household final consumption expenditure, etc. (% of GDP) in Norway was 45.51 as of 2016. Its highest value over the past 51 years was 55.33 in 1969, while its lowest value was 38.36 in 2008.

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
1965 54.19
1966 53.71
1967 53.12
1968 53.77
1969 55.33
1970 52.01
1971 51.93
1972 51.33
1973 50.25
1974 49.04
1975 50.20
1976 50.60
1977 51.87
1978 49.97
1979 49.73
1980 47.00
1981 46.44
1982 47.18
1983 46.88
1984 45.54
1985 47.38
1986 51.47
1987 50.74
1988 50.27
1989 49.11
1990 48.88
1991 49.09
1992 49.93
1993 49.73
1994 49.50
1995 48.89
1996 48.07
1997 46.91
1998 48.53
1999 47.17
2000 42.44
2001 42.67
2002 44.74
2003 45.74
2004 44.35
2005 41.96
2006 40.26
2007 40.46
2008 38.36
2009 42.20
2010 41.91
2011 40.24
2012 39.63
2013 40.14
2014 40.94
2015 43.41
2016 45.51

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 Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures.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