Published: 11 November 2020
Value of household production has grown at the same rate as GDP in 2019
The gross value added of household production was EUR 99.5 billion in Finland in 2019. Gross domestic product was EUR 240.6 billion in the corresponding period.
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.
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 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.
The 2019 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 several other annual statistics. The data of the 2009 Time Use Survey are updated with regard to the numbers of household types in 2019, and annual national accounts data have been used in the calculation of consumption data, which are divided by household type based on the 2016 Household Budget Survey. The figures concerning the value of household production are calculated according to international guidelines.
Household production refers to 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.
Statistics Finland's StatFin database contains calculations for 2009, 2012 and 2016 to 2019 compiled in accordance with the international recommendation both at the level of the whole economy and by type of household. Previous calculations according to the model compiled in Finland for the years 2001 to 2012 can be found in the archive.
In 2019, gross domestic product was EUR 240.6 billion in Finland, and the gross value added of total household production EUR 99.5 billion. The share of household production in GDP was EUR 18.1 billion and the gross value added of household production excluded from GDP (so-called non-SNA) EUR 81.4 billion. The share of household production excluded from national accounts corresponded to 33.9 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, after which it has decreased slightly. In 2018 and 2019, the ratio has been the same, that is, the value of household production has grown in the same way as GDP in 2019.
Household production excluded from GDP as a ratio to GDP
The so-called extended GDP, or the sum of GDP and the gross value added of household production excluded from GDP, was EUR 322.0 billion in 2019. 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 close on one-third of this extended GDP, that is, 30.9 per cent.
Source: Value of household production, Statistics Finland
Inquiries: Katri Soinne 029 551 2778, kansantalous@stat.fi
Head of Department in charge: Mari Ylä-Jarkko
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Updated 11.11.2020
Statistics:
Value of household production [e-publication].
ISSN=2490-0192. 2019. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/kotsa/2019/kotsa_2019_2020-11-11_tie_001_en.html