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Average Monthly Income and Expenses in Romania: Q4 2023 Insights

The average total monthly incomes reached 7,504 RON per household and 2,999 RON per person in the fourth quarter of 2023, showing a 2.8% increase compared to the previous quarter. This data was revealed by the National Institute of Statistics (INS) in their recent publication.

Compared to the same period in 2022, the total average monthly incomes per household grew by 13.1%, while those per person increased by 13.3%.

On the expenditure side, the average monthly expenses per household in the last quarter of 2023 stood at 6,514 RON (2,603 RON per person), representing 86.8% of the total income. This marked an 82 RON increase per household from the third quarter of 2023.

Looking at year-over-year comparisons, the total average monthly expenses per household rose by 11.5%, and those per person increased by 11.6%.

During the period from October to December 2023, the average monthly earnings were 6,956 RON per household (2,780 RON per person), showing a 1.9% increase from the previous quarter. Additionally, the income in kind was 548 RON per month per household (219 RON per person), up by 16% compared to the third quarter of 2023.

Sources of Income

Salaries and related incomes amounted to 5,012 RON per household per month, constituting the primary income source (66.8% of total household income). Social benefits contributed significantly, with 1,530 RON per month per household (20.4% in Q4 2023), along with income in kind and other sources.

When analyzing the residential environment, urban areas recorded a higher total average monthly income per household of 8,274 RON, compared to 3,575 RON per person in rural areas. The average monthly expenses in urban settings were also higher, indicating notable differences between urban and rural expenditure patterns.

Key Insights

The data from Q4 of 2023 in Romania showcases a positive trend in average incomes, with a notable increase in both household and per person earnings. However, the rise in expenses, particularly in urban areas, highlights the need for further economic analysis and policy considerations.

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