INS: Average household income RON 3,426/month in Q3 2017, up 15 pct from Q3 2016

Anca Alexe 11/01/2018 | 14:34

According to data from the National Institute for Statistics (INS), the total monthly average income in the third quarter of 2017 was RON 3,426 lei per household, and RON 1,308 per person.  

In the previous quarter, average household income was RON 3,329/month, and in the third quarter of 2016 it was RON 2,972, meaning the yearly growth in average household income was 15.2 percent.

Salaries and other related incomes were the most important source of income (62.5 percent of the total household income). Other sources that contributed to the total household income were: social benefits (21.6 percent), agricultural income (3.2 percent), income from independent non-agricultural activities (2.3 percent), property and household asset sale income (1.2 percent) and in-kind income (7.8 percent), mainly the equivalent value of the consumption of agro-food products from own resources (6.5 percent).

The residential area bears upon the differences in level and especially in structure between household income and expenditure in urban or rural areas.

In Q3 2017, the total monthly average expenditure of the population was RON 2,885 per household and RON 1,101 per person, accounting for 84.2 percent of the total income.

The main uses of household expenditure are: consumption of food goods, non-food goods and services, and taxes, contributions and dues paid to public and private administration and to the social insurance budgets.

Expenditure is also used to cover needs related to household production (food for animals and poultry, payment for work on household production, products for sowing, veterinary services, etc.).

Expenditure on investments, intended for purchasing or building dwellings, purchasing land and equipment required by household production, purchasing shares, etc., has a small weight in the total household expenditure (only 0.7 percent).

Food and non-alcoholic beverages accounted, on average, for 33.1 percent of household consumption in Q3 2017, followed by dwelling, water, electricity, gas and other fuels (16.2 percent), alcoholic beverages and tobacco (8.2 percent), clothing and footwear (7.1 percent), transport (6.8) and others. The lowest expenditures were directed towards education (0.1 percent) and hotels, cafes and restaurants (1.5 percent).

 

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