Disposable incomes continued rapid rise in 2018 in Latvia

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For the second year in a row, in 2018, household disposable incomes in Latvia increased by more than 10%, according to information released recently by the Central Statistics Office.

Compared to 2017, in 2018 household disposable income increased by 11.7 %, reaching 546 euros per household member monthly. For the second year in a row, the growth rate of population income has been above 10 % (it was 11.8 % in 2017).

Income per household member increased the most in Latgale region – by 13.8 % (376 euros per month), in Zemgale – by 13.3 % (501 euros per month) and in Riga – by 13 % (669 euros per month). In Pieriga income has risen by 10.2 % (591 euros per month).

Slower income growth was registered in Kurzeme – by 8.5 % (467 euros monthly) and in Vidzeme – by 7.4 % (431 euros per month).

In urban areas growth comprised 10.9 % (575 euros per month) and in rural area – 13.6 % (483 euros per month). The share of income from labour amounted to 71.3 % of the total disposable income and the share of social transfers amounted to 22.9 %. In 2018 income of the richest sector of the population was 6.5 times higher than that of the poorest population, slightly less than in 2017 when this gap comprised 6.8 times.

 

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