Issue 76: Average Monthly Incomes and Expenditures per Household – 2015
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Average Monthly Incomes and Expenditures per Household – 2015
Issue #76 / 18.07.2016
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Based on the income and expenditure statistics per household, in 2015 compared to 2014:
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In 2015, average household monthly income (cash and non-cash) equalled 1,022 GEL which is 3.9% higher than the corresponding indicator in 2014. Together with income growth, the volume of expenditure also increased (5%) and amounted to 1,005 GEL. Along with the increase in households’ income and expenditure, in 2015 consumer prices also increased (4.0%) meaning that in 2015 there was no significant change regarding consumers’ purchasing power compared to 2014.
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In 2015, the main source of average household monthly income (1,022 GEL) is still wages (38%). It should be noted that pensions, scholarships and assistance take up a significant share (14%) in total income. Meanwhile, self-employment and selling agricultural products makes up only 16% of total income (in 2014 this indicator was 14.9%) while in 2015 self-employed people make up 57% of people in work.
In 2015, compared to 2014, the structure of average household monthly income did not change.
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Source: National Statistics Office of Georgia In 2015, about one quarter of households’ total expenditure went on everyday products such as food, drink and tobacco, while only 3% of the whole expenditure was spent on household goods such as a washing machine or kettle. A significant amount of expenses went on health care (8%), fuel and electricity (8%), transport (7%) and transfers (4%). It is also interesting that despite not yielding a high income, households still save 18% of their average monthly income, which is about 180 GEL. In 2015, compared to 2014, the structure of average monthly expenditure per household did not change.
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In the period of 2007 to 2015, the average monthly nominal salary in business and non-business sectors increased. In 2015, the average monthly salary in the non-business sector increased (6.6%) and equalled 905.8 GEL. In this period there was also a significant increase (13.8%) in the average monthly nominal salary in business sector. As a consequence, in 2015 the average monthly salary in the business sector was 4.9% higher than in the non-business sector and reached 950 GEL.
Starting from 2008, in most cases the average monthly nominal salary in the non-business sector was higher than in the business sector but in 2015 in the business sector the average monthly nominal salary was higher.
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In 2015, the average monthly salary increased in all areas of the business sector**. The highest growth was recorded in the following industries: fishing (29.3%), education (17.8%), health care (16.5%), real estate (14.6%) and construction (16.1%). Despite such growth, employees in education remain poorly paid (486 GEL). On the other hand, in the business sector the highest paid area is construction (1,352 GEL).
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Source: National Statistics Office of Georgia In 2015, agriculture was the only industry in the non-business sector*** where there was no growth in average monthly salary. Financial intermediation is the highest paid occupation not only among the non-business sector but in general. In 2015, the average monthly salary in the financial sector increased (6.0%) and reached 1690 GEL. Education remains the lowest paid job in the non-business sector as well.
** A legal entity whose primary purpose is to conduct business activities and make a profit is called a business legal entity.
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Source: Ministry of Finance of Georgia * Forecasted
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