Published On: Wed, Sep 3rd, 2014

Turkey: Household expenditures have the highest share in family budgets




ISTIKLAL-STREET
In spite of statements Turkey has taken a big step towards becoming the 10th biggest economy in the world by 2023, reports show that Turks have to struggle to pay their rents in the first place.

Turkey’s households spent almost half of their income for food and housing and rent, which sums up to two-third with transport expenditures, according to data released by Turkish Statistical Institute (TSI), on Tuesday.

Household expenditures on housing and rent had the highest share in total consumption expenditures in 2013, at 25 percent and food at 19.9 percent and 17.4 percent transportation, in overall Turkey, said in the TSI statement on Household Consumption Expenditures. The total share of food, rent and transportation sum up to 62.3 percent in all expenditures.

Monthly average consumption expenditure per household rose by 8.7 percent to 2,572 lira in 2013, from 2,366 lira in 2012, whic was estimated as 2,851 lira for urban areas and 1,910 lira for rural areas in 2013.

When comparing the results of 2012 and 2013 Household Budget Surveys, it was observed that the share of food expenditures rose to 19.9 percent in 2013, from 19.6 percent in 2012 while the share of housing and rent expenditures fell to 25.0 percent in 2013, from 25.8 percent in 2012. The share of transportation expenditures rose to 17.4 percent in 2013, from 17.2 percent in 2012.



When looking at the distribution of consumption expenditures by quintiles ordered by income, it was observed that the share of food expenditures was 28.8 percent for households in the lowest quintile, while the share of food expenditures was 14.6 percent for households in the highest quintile.

Also the share of educational services expenditures was 0.7 percent for households in the lowest quintile while it was 4.0 percent for households in the highest quintile.

While the share of food expenditures of households whose main source of income is salary and wage was 17.9 percent in total expenditures, the same ratio was 24.8 percent for the households whose main source of income is pensions.

For the ratio of housing and rent expenditures in total; whereas the households whose main source of income is other transfers had the highest share with a rate of 34.5 percent and the households whose main source of income is entrepreneur income had the lowest share with a rate of 21.7 percent.

The share of transportation expenditures was 7.9 percent for the households whose main source of income is other transfers while it was 19.7 percent for households whose main source of income is entrepreneur income.

Based on above data, it would not be an exaggeration to say Turks have to come over this basic step first to get on the road to becoming an economically developed nation in the world.

SOURCE: MEDIA

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

*

code

Google+