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National Income and Expenditure 2020

Expenditure

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The Expenditure approach uses all spending on final demand to produce an estimate for Gross Domestic Product. We do this by estimating:

personal expenditure on consumer goods and services
expenditure by central and local government on current goods and services
gross domestic fixed capital formation
value of physical changes in stocks

The value of exports is then added and imports are deducted.

The following tables show the contributions of the different components of the Expenditure approach to Gross Domestic Product at current market prices and at constant market prices.

Exports increased by 9.5% in 2020, while imports declined by 7.4% reflecting a decrease in imports of intellectual property. Fixed capital formation decreased by 23.0% in 2020. This was largely driven by the decrease in R&D related IP imports. For more information see Capital Formation. Personal consumption decreased by 10.4% while government net current expenditure rose by 10.9%, two series significantly impacted by COVID-19.

Figure 5.1 below shows the relative contributions of each of the components of expenditure.

	Personal consumption of goods and services	Net expenditure by local and central government on goods and services	Gross domestic fixed capital formation	Value of physical changes in stocks	Net exports of goods and services
2012	84.1085656973	27.1230132614	34.2715605438818	1.1587812779682	30.614156822
2013	85.1448993008	26.1850221587	33.3831262991374	0.3042192489971	33.788361703
2014	87.9856015485	27.3339160298	40.2471619909977	3.0912641199874	35.185429959
2015	91.3450249713	27.9658265032	63.2003031721151	4.5519943869668	75.6787737380001
2016	96.2643672679	29.2731940557	96.7028495841966	4.7650471769784	42.353400146
2017	99.4623369721	31.0271225632	98.7094532358103	4.2222604243808	65.626778307
2018	105.3647821605	32.7871383308	92.1174603775165	0.9737429648367	93.103259732
2019	111.0543325533	35.8962859108	191.085565873184	3.9253932543106	12.552570987
2020	100.1577399908	40.4145037684	147.73803783195	4.6980574471833	83.053067762

For a further breakdown of personal consumption of goods and services go to Consumption of Personal Income.

For a further breakdown of gross domestic fixed capital formation go to Capital Formation.

Table 5 Expenditure on Gross and Net National Income at Current Market Prices

Table 5 Expenditure on Gross and Net National Income at Current Market Prices
							€ million
Description	ESA Code	2015	2016	2017	2018	2019	2020¹
79. Personal consumption of goods and services	P.3	91,345	96,264	99,462	105,365	111,054	100,158
of which:
79(a) Final consumption expenditure of households and NPISHs		86,507	91,160	93,915	99,339	104,588	93,419
79(b) Final consumption expenditure of government		4,838	5,105	5,548	6,026	6,467	6,739
80. Net expenditure by central and local government on current goods and services	P.3	27,966	29,273	31,027	32,787	35,896	40,415
81. Gross domestic fixed capital formation	P.51 & P.53	63,200	96,703	98,709	92,117	191,086	147,738
82. Value of physical changes in stocks	P.51 & P.52	4,552	4,765	4,222	974	3,925	4,698
of which
82(a) Net additions to the breeding stocks		155	46	30	-18	28	7
83. Exports of goods and services²	P.6	320,565	328,235	359,655	401,001	456,097	488,877
84. Imports of goods and services²	P.7	-244,886	-285,882	-294,028	-307,898	-443,544	-405,824
85. Statistical discrepancy (equals -Item 12, Table 1)		58	699	-2,123	1,696	2,012	-3,193
86. Gross domestic product at current market prices	B.1*g	262,800	270,058	296,925	326,043	356,526	372,869
87. Net factor income from the rest of the world	D.1 & D.4	-62,043	-51,082	-62,251	-74,655	-80,952	-90,235
	(net to abroad)
88. Gross national product at current market prices		200,757	218,976	234,674	251,388	275,574	282,633
89. EU subsidies	D.3	1,571	1,479	1,504	1,566	1,589	1,512
90. EU taxes	D.2	-327	-486	-433	-433	-456	-410
91. Gross national income at current market prices	B.5*g	202,001	219,970	235,746	252,521	276,707	283,735
91.1 minus Provision for depreciation		-56,846	-63,597	-72,367	-78,115	-86,863	-102,619
91.2 Net National Income at current market prices	B.5*n	145,155	156,373	163,379	174,406	189,844	181,116

¹Preliminary
²Excluding factor income flows

Open in Excel: National Income and Expenditure 2020 Table 5 (XLS 24KB)

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Table 5.1 Annual Percentage Changes in the Main Constituents of Table 5

Table 6 Expenditure on Gross and Net National Income at Constant Market Prices (chain linked annually and referenced to year 2019)

Table 6 Expenditure on Gross and Net National Income at Constant Market Prices (chain linked annually and referenced to year 2019)
							€ million
Description	ESA Code	2015	2016	2017	2018	2019	2020 ¹
92. Personal consumption of goods and services	P.3	96,218	101,094	103,405	107,481	111,054	99,504
of which:
92(a). Final consumption expenditure of households and NPISHs		91,147	95,781	97,707	101,342	104,588	92,975
92(b). Final consumption expenditure of government		5,075	5,318	5,701	6,139	6,467	6,529
93. Net expenditure by central and local government on current goods and services	P.3	29,470	30,787	31,960	33,511	35,896	39,811
94. Gross domestic fixed capital formation	P.51 & P.53	70,225	105,695	105,063	95,802	191,086	147,077
95. Value of physical changes in stocks	P.51 & P.52	3,801	4,184	3,692	907	3,925	4,929
of which:
95(a). Net additions to the breeding stocks		129	45	28	-17	28	6
96. Exports of goods and services²	P.6	322,930	337,740	370,287	413,051	456,097	499,415
97. Imports of goods and services²	P.7	-251,724	-299,581	-303,062	-313,118	-443,544	-410,530
98. Statistical discrepancy (equals -item 66, Table 4)		..	..	..	..	2,012	-2,762
99. Gross domestic product at constant market prices	B.1*g	280,370	286,096	311,673	339,817	356,526	377,444
100. Net factor income from the rest of the world	D.1 & D.4	-63,153	-53,129	-64,740	-77,476	-80,952	-92,498
	(net to abroad)
101. Gross national product at constant market prices		216,759	233,186	247,007	262,340	275,574	284,945
102. EU subsidies	D.3	1,599	1,508	1,530	1,583	1,589	1,525
103. EU Taxes	D.2	-333	-495	-439	-437	-456	-411
104. Gross national income at constant market prices	B.5*g	218,045	234,200	248,100	263,488	276,707	286,059
104.1 Provision for depreciation	P.51c	-58,827	-64,860	-72,455	-78,153	-86,863	-104,405
104.2 Net national income at constant market prices	B.5*n	159,850	169,912	176,006	185,625	189,844	181,654

¹Preliminary
²Excluding factor income flows
^..Chain linked series not additive except for 2019 and 2020

Open in Excel: National Income and Expenditure 2020 Table 6 (XLS 24KB)

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Table 6.1 Annual Percentage Changes in the Main Constituents of Table 6

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Table 5.1 Annual Percentage Changes in the Main Constituents of Table 5

Description	ESA Code	2015-2020	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020
Personal consumption of goods and services	P.3	1.9	5.4	3.3	5.9	5.4	-9.8
Net expenditure by central and local government on current goods and services	P.3	7.6	4.7	6.0	5.7	9.5	12.6
Gross domestic physical capital formation	P.5	17.6	49.8	1.4	-9.6	109.5	-21.8
of which
Gross domestic fixed capital formation	P.51 & P.53	18.5	53.0	2.1	-6.7	107.4	-22.7
Exports of goods and services	P.6	8.8	2.4	9.6	11.5	13.7	7.2
Imports of goods and services	P.7	10.6	16.7	2.8	4.7	44.1	-8.5
Gross domestic product at current market prices	B.1*g	7.2	2.8	9.9	9.8	9.3	4.6
Gross national product at current market prices		7.1	9.1	7.2	7.1	9.6	2.6
Gross national income at current market prices	B.5*g	7.0	8.9	7.2	7.1	9.6	2.5
Net national income at current market prices	B.5*n	4.5	7.7	4.5	6.7	8.9	-4.6

Table 6.1 Annual Percentage Changes in the Main Constituents of Table 6

Description	ESA Code	2015-2020	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020
Personal consumption of goods and services	P.3	0.7	5.1	2.3	3.9	3.3	-10.4
Net expenditure by central and local government on current goods and services	P.3	6.2	4.5	3.8	4.9	7.1	10.9
Gross domestic physical capital formation	P.5	15.5	48.4	-1.0	-11.1	101.6	-22.1
of which
Gross domestic fixed capital formation	P.51 & P.53	15.9	50.5	-0.6	-8.8	99.5	-23.0
Exports of goods and services	P.6	9.1	4.6	9.6	11.5	10.4	9.5
Imports of goods and services	P.7	10.3	19.0	1.2	3.3	41.7	-7.4
Gross domestic product at constant market prices	B.1*g	6.1	2.0	8.9	9.0	4.9	5.9
Gross national product at constant market prices		5.6	7.6	5.9	6.2	5.0	3.4
Gross national income at constant market prices	B.5*g	5.6	7.4	5.9	6.2	5.0	3.4
Net national income at constant market prices	B.5*n	2.6	6.3	3.6	5.5	2.3	-4.3

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