Final consumption expenditure of households

Updated: 14 Jul 2021
Next update: 17 Dec 2021

Final consumption expenditure consists of expenditure incurred by resident institutional units on goods or services that are used for the direct satisfaction of individual needs or wants, or the collective needs of members of the community. Final consumption expenditure may take place on the domestic territory or abroad. Final consumption expenditure is incurred by households, non-profit institutions serving households and general government. Non-financial corporations, financial and insurance corporations do not have final consumption expenditure.

Individual consumption expenditure is the sum of households' final consumption and final consumption expenditure of non-profit institutions serving households.

   

Household consumption expenditure fell clearly

Data on household consumption expenditure were published now in summer on a detailed level by consumption category, which provides further information about the structure of private consumption in 2020. At this stage, the data are still preliminary and they involve uncertainty particularly on the detailed level.

Similarly to value added, household consumption expenditure also shows exceptionally large variations by consumption category in 2020. The consumption expenditure of Finnish households abroad, as well as that of non-resident households in Finland, remained at unusually low levels.

In addition, exceptional decreases were seen in the consumption expenditure of culture and recreation and clothing, for example. Consumption expenditure on transport was also falling heavily, as was consumption expenditure on accommodation and food service activities.

Growth in private consumption was seen especially in food, alcoholic beverages, and domestic appliances and furniture.