4.2 C
Bucharest
March 2, 2021
ECONOMY

Romanians’ incomes grew by almost 7.5 pc last year

+ Expenditures represented 87.5 pc of income +  On average, foodstuffs and non-alcoholic beverages represented 38.2 pc of households’ consumption in 2015

 

In 2015, average monthly incomes stood at RON 2,687 per household per month and RON 1,011 per person, up by 7.4 and 7.8 percent respectively compared to 2014, the National Statistics Institute (INS) data published on Wednesday show.

In 2015, average expenditures stood at RON 2,352 per household per month (RON 885 per person), and represented 87.5 percent of total incomes, down by 3.2 percentage points year-on-year.

INS data show that average “in cash” incomes stood at RON 2,362 per household per month (RON 889 per person), while average “in kind” incomes stood at RON 325 per household per month (RON 122 per person). Salaries and the other forms of income associated to salaries represented the most important source of income (55.7 percent of total household income). Income from social services (23.9 percent), agriculture (2.9 percent), independent non-agricultural activities (2.4 percent), copyright and revenues from the sale of household assets (1.3 percent) rounded off overall household incomes. Incomes “in kind” hold an important share too (12.1 percent), representing mainly the value of home-grown agrofood products (10.7 percent).

According to the INS, the place of residence influences the differences in level and structure between the incomes of urban and rural households.

According to the INS, when ordered by purpose, household expenditures mainly focused on: foodstuffs, non-foodstuff products, services, transfers to public and private administration and social security budgets, in the form of taxes, contributions, levies, as well as the covering of needs related to farming (fodder, labour, farming products, veterinary services etc.).

Expenditures on investments, on the purchase or construction of homes, the purchase of plots of land and farming equipment, the purchase of company shares, hold a small share in overall household expenditures (only 0.7 percent). The place of residence determines certain particularities in what concerns the size and structure of overall expenditures.

According to the standard Classification of Individual Consumption According to Purpose (COICOP), foodstuffs and non-alcoholic beverages covered, on average, 38.2 percent of household expenditures in 2015.

Related posts

Romanians abroad could pay taxes online from July

Nine O' Clock

PM Orban: Gov’t will finalise state of emergency report by end-week and submit it to Parliament

NINE O'CLOCK

Nuclearelectrica: Construction of reactors 3 and 4 enters final stretch

Nine O' Clock