The classification of household consumption in the national accounts is based on the international standard for the classification of household consumption of goods and services, COICOP (Standard for Classification of Individual Consumption by Purpose). As part of the main revision in 2024, a new version of the standard, COICOP 2018, has been incorporated into the national accounts. COICOP is being prepared by the UN, and the latest version includes a higher level of detail, as well as modernization of the consumption groups. The purpose of the change is to better reflect new consumption patterns.  However, the grouping in the national accounts is not as detailed as the most detailed divisions in COICOP.

The regrouping of the content of the aggregated consumption groups entails large changes, compared with previously published figures.

Aggregated consumption group level

The consumption groups with the largest changes are Earlier culture and leisure and the group Formerly called Post and Telecommunications Services, where modern electronic goods have been moved from Culture, sports and recreation to Information and communication.

Insurance, financial services and indirectly measured financial services are separated from Other services into a separate consumption group called Insurance and financial services.

New detailed sections

The COICOP 2018 classification is purpose-based, and there is therefore not always a clear distinction between goods and services.  In some analytical contexts, we still find it useful to be able to distinguish between goods and services. For the publication of national accounts figures, a new StatBank table 14565 is therefore created, where detailed consumption groups are found in two different divisions:

  1. One detailed division is directly based on the COICOP 2018 standard, and will be internationally comparable. However, the aggregates presented above will not be able to be derived directly with the COICOP 2018 classification.

  2. The second detailed division is a national classification that has similarities to the COICOP 2018 classification, but where a distinction is made between goods and services. The national division will be directly comparable to the aggregates in the aggregate division. For example, the three disaggregated series 61M1 Personal care, 61M2 Other personal goods, 61M3 Kindergarten and care services, 61M9 Other services add up to the aggregate 61M Other services.