Average monthly household income in Serbia 78,393 dinars

The average monthly income of a household in Serbia amounted to 78,393 dinars, while household consumption amounted to 78,678 dinars, according to data from the 2022 Household Consumption Survey, published by the State Statistical Office.

Compared to the year before that, the revenues of an average household increased by 6,660 dinars or 9.2 percent. In 2020, the Consumption Survey was not conducted due to the pandemic.

The largest part of income, about half, is made up of earnings from regular employment, while about one third (32.1 percent) is made up of pensions.

The rest is income from agricultural activities, outside of regular employment, and remittances from abroad in the amount of 807 dinars.

At the same time, the average household consisting of 2.67 members spent 78,678 dinars per month, which is 6,776 dinars (9.4 percent) more than the previous year, in 2021.

By far, the largest part of the family budget is spent on food and soft drinks – 28,246 dinars or 36 percent – which is almost two percent higher than in 2021 and 2019.

On the other hand, spending on clothing and footwear fell from 5.2 to 4.9 percent of the total income. In fact, the spending on all other items declined too.

Expensive food has affected all households, but a decile analysis of household consumption shows that the poorest are most affected.

Namely, the personal consumption of 10 percent of the poorest households amounted to only 30,346 dinars per month. Of that, 14,201 dinars were spent on food, which is as much as 46.7 percent. In the second decile, food consumption accounted for 45 percent of total consumption, and with each decile, as you move towards households with higher incomes and consumption, the share of food expenses decreases.

(Biznis i Finansije, 17.11.2023)


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