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Personal Consumption of Goods & Services | Net Expenditure by Local & Central Government on Goods & Services | Gross Domestic Fixed Capital Formation | Final Domestic Demand | |
2016 | 118.8719176407 | 36.1805105646 | 118.581934189872 | 273.1457782209 |
2017 | 123.1416607559 | 37.5456118636 | 122.998020161758 | 283.1783120024 |
2018 | 130.2866632918 | 39.2687277937 | 111.822469852883 | 280.9003192727 |
2019 | 134.0375191247 | 41.5657337795 | 223.285912909811 | 398.7908790487 |
2020 | 121.5181282663 | 46.3649772813 | 186.512612413065 | 354.2411760742 |
2021 | 132.3598407015 | 49.4391325069 | 112.093170710399 | 293.9137097936 |
2022 | 146.6045258938 | 50.6834059216 | 115.202018675114 | 312.3449932162 |
2023 | 153.9261751442 | 53.2171452634 | 130.595913073008 | 337.7392334806 |
2024 | 158.4593955444 | 56.0483826635 | 93.4210294778072 | 307.9288076857 |
Figure 9.1 shows the contributions to final domestic demand. Of this total, personal consumption of goods and services accounts for 51.5%, net expenditure by central and local government on current goods and services accounts for 18.2% while gross domestic fixed capital formation accounts for 30.3%.
Personal Consumption of Goods & Services | Net Expenditure by Local & Central Government on Goods & Services | Modified Gross Domestic Fixed Capital Formation | Modified Final Domestic Demand | |
2016 | 123.1416607559 | 36.1805105646 | 48.7834124708 | 203.4336911959 |
2017 | 123.1416607559 | 37.5456118636 | 51.9415147144 | 212.0488978942 |
2018 | 130.2866632918 | 39.2687277937 | 55.4353268268 | 224.3063955586 |
2019 | 134.0375191247 | 41.5657337795 | 53.9161577881 | 229.1210394418 |
2020 | 121.5181282663 | 46.3649772813 | 48.25760963 | 216.2405535821 |
2021 | 132.3598407015 | 49.4391325069 | 51.8035154537 | 233.7052073084 |
2022 | 146.6045258938 | 50.6834059216 | 56.0205535463 | 253.3018228756 |
2023 | 153.9261751442 | 53.2171452634 | 61.7544505082 | 268.8977709158 |
2024 | 158.4593955444 | 56.0483826635 | 59.1331237955 | 273.6409020034 |
Figure 9.2 shows the contributions to modified final domestic demand. For this deglobalised measure, personal consumption of goods and services accounts for 57.9%, net expenditure by central and local government on current goods and services accounts for 20.5% while modified gross domestic capital formation accounts for 21.6%.
Final Domestic Demand comprises of:
(a) Personal consumption of goods and services
(b) Net expenditure by central and local government
(c) Gross domestic fixed capital formation
Final Domestic Demand fell by 8.8% in real terms in 2024 compared with 2023. When the Value of physical changes in stocks and net acquisitions of valuables are taken into account, Total Domestic Demand decreased by 9.8% in the year.
Modified Final Domestic Demand comprises of:
(a) Personal consumption of goods and services
(b) Net expenditure by central and local government
(c) Modified Gross domestic fixed capital formation – Excludes investment in Aircraft related to Leasing, and R&D service imports and trade in IP
Modified Final Domestic Demand expanded by 1.8% in year 2024 over 2023 in real terms while Modified Total Domestic Demand (which also includes the value of physical changes in stocks and net acquisitions of valuables) increased by 0.3% over the same period.
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