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Published: 7 November 2019

Value of household production has grown slightly slower than GDP in recent years

The gross value added of household production was EUR 96.4 billion in Finland in 2018. Gross domestic product was EUR 234.5 billion in the corresponding period.

According to the internationally agreed practice, unpaid household work or services produced by households for themselves are not as a rule included in gross domestic product. However, it is possible to calculate a value for this work done by households.

The 2017 and 2018 calculations of the statistics on the value of household production make use of the data of the Household Budget Survey of 2016, the Time Use Survey of 2009 and other annual statistics. The data of the 2009 Time Use Survey are updated with regard to the numbers of household types in 2017 and 2018, and time series revised annual levels of the national accounts have been used in calculating consumption data, which have been divided into types of households based on the 2016 Household Budget Survey. The figures concerning the value of household production were calculated according to the new international guidelines.

When we talk about household production, it means household production both included in gross domestic product and excluded from gross domestic product. In the calculations, these two items are kept separate, whereby household production excluded from GDP can be taken as a proportion to GDP or it can be summed with GDP to calculate so-called extended GDP, and there is thus no overlapping in the calculations.

Calculated with the input method, the gross value added of household production covers the value of work done by households for themselves and consumption of fixed capital used in production, and it is the concept corresponding to gross domestic product in these calculations.

In 2018, gross domestic product was EUR 234.5 billion in Finland, and the gross value added of total household production EUR 96.4 billion. The share of household production in GDP was EUR 17.5 billion and the gross value added of household production excluded from GDP (so-called non-SNA) EUR 78.8 billion. The share of household production excluded from national accounts corresponded to 33.6 per cent of GDP. In 2009, 2012 and 2016, the gross value added of household production excluded from GDP as a ratio to GDP has been slightly higher.

Household production excluded from GDP as a ratio to GDP

The tables produced on Statistics Finland's Internet pages present earlier calculations according to the model designed in Finland for the years 2001 to 2012 and newer calculations compiled according to the international recommendations for the years 2009, 2012 and 2016 to 2018.

The so-called extended GDP, or the sum of GDP and the gross value added of household production excluded from GDP, was EUR 313.3 billion in 2018. The gross value added of household production – that is, we can now take into account both household production already included in GDP and excluded from GDP – is under one third of this extended GDP, that is, 30.8 per cent.

The statistics on the value of household production supplement the core system of national accounts in describing the significance of household production not included in national accounts. The statistics describe the monetary value of the goods and services produced by households for their own use.

Source: Value of household production, Statistics Finland

Inquiries: Katri Soinne 029 551 2778, kansantalous@stat.fi

Director in charge: Ville Vertanen

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Updated 7.11.2019