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

Household final consumption expenditure, etc. (% of GDP) in Sweden was 44.26 as of 2016. Its highest value over the past 51 years was 54.70 in 1966, while its lowest value was 44.26 in 2016.

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 54.53
1966 54.70
1967 54.51
1968 54.40
1969 53.88
1970 46.28
1971 46.83
1972 47.35
1973 47.16
1974 46.98
1975 45.49
1976 46.74
1977 47.97
1978 48.51
1979 47.21
1980 46.16
1981 47.97
1982 48.88
1983 47.33
1984 45.85
1985 45.71
1986 46.45
1987 47.21
1988 46.85
1989 44.97
1990 44.64
1991 47.27
1992 48.17
1993 50.19
1994 49.22
1995 47.45
1996 47.53
1997 47.42
1998 46.85
1999 46.88
2000 46.84
2001 46.30
2002 46.47
2003 46.37
2004 45.85
2005 45.97
2006 44.81
2007 44.35
2008 44.61
2009 47.15
2010 46.44
2011 46.30
2012 46.54
2013 46.67
2014 46.13
2015 44.98
2016 44.26

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 Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures.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