site.btaBulgarians' Income Outpaces Spending in Q3 of 2023

After the growth of expenditures in Bulgaria outpaced that of incomes in the second quarter of the year, in the third quarter the National Statistical Institute (NSI) reported a reversal of this trend, albeit with a minimal step, data published on the NSI official website on Thursday show. Bulgarians' incomes in the period were close to BGN 2,900, while expenditures were slightly above BGN 2,700.

The total income average per household member during the third quarter of 2023 was BGN 2,874 and increased by 22.5% compared to the same quarter of 2022. The highest relative share of income within the total income was the one from wages and salaries (54.4%). The relative share of income from pensions was 30.9% and from self-employment - 6.3%. 

The total expenditure average per household member during the period was BGN 2,714 and increased by 21.2% compared to the same quarter of 2022. The greatest share in the formation of the total expenditure was expenditure on food and non-alcoholic beverages - 28.7%, as well as expenditure on housing - 16.1%, taxes and social insurance contributions - 12.7%, and transport and communication - 11.5%. 

Compared to the same quarter of 2022, expenditure on food and non-alcoholic beverages rose by 15.4% (BGN 675 to BGN 780), for alcoholic beverages and tobacco by 16.5% (BGN 87 to BGN 102), for clothing and footwear by 28% (BGN 69 to BGN 88), for housing by 2.3% (BGN 426 to BGN 436), for health by 6.5% (BGN 138 to BGN 147), for transport and communication by 25.5% (BGN 248 to BGN 311), for recreation, culture and education by 68% (BGN 149 to BGN 251), for taxes and social insurance contributions by 35.5% (BGN 255 to BGN 345). 

The consumption of most basic food products on average per household member during the third quarter of 2023 decreased compared to the same quarter of 2022.