Household income is a measure of income received by the household sector. It includes every form of cash income, e.g., salaries and wages, retirement income, investment income and cash transfers from the government. It may include near-cash government transfers like food stamps, and it may be adjusted to include social transfers in-kind, such as the value of publicly provided health care and education.
Household income can be measured on various bases, such as per household, per capita, per earner, or on an equivalised basis. Because the number of people or earners per household can vary significantly between regions and over time, the choice of measurement basis can impact household income rankings and trends.
When taxes and mandatory contributions are subtracted from household income, the result is called net or disposable household income. A region's mean or median net household income can be used as an indicator of the purchasing power or material well-being of its residents. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group. Median income is the amount that divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.
The list below represents a national accounts-derived indicator for a country or territory's gross household disposable income per capita (including social transfers in kind). According to the OECD, 'household disposable income is income available to households such as wages and salaries, income from self-employment and unincorporated enterprises, income from pensions and other social benefits, and income from financial investments (less any payments of tax, social insurance contributions and interest on financial liabilities). 'Gross' means that depreciation costs are not subtracted.' [1] This indicator also takes account of social transfers in kind 'such as health or education provided for free or at reduced prices by governments and not-for-profit organisations.' [1] The data shown below is published by the OECD and is presented in purchasing power parity (PPP) in order to adjust for price differences between countries.
Location | 2022* (USD PPP) [1] |
---|---|
United States | 62,300 (2021) |
Luxembourg | 59,700 |
Switzerland | 52,000 |
Germany | 51,600 |
Austria | 50,200 |
Netherlands | 48,800 |
Norway | 47,700 (2021) |
Belgium | 47,400 |
Australia | 46,800 (2021) |
France | 46,400 |
Sweden | 43,900 |
Finland | 43,600 |
Canada | 43,600 |
Denmark | 42,800 |
European Union | 41,500 |
United Kingdom | 40,800 |
Italy | 40,400 |
Ireland | 38,300 |
Slovenia | 36,600 |
Lithuania | 36,300 |
Czechia | 35,600 |
Spain | 34,500 |
Portugal | 34,500 |
Japan | 33,900 (2021) |
South Korea | 32,700 |
Poland | 32,200 |
New Zealand | 31,900 (2019) |
Hungary | 29,800 |
Slovakia | 29,500 |
Estonia | 29,200 |
Latvia | 28,600 |
Greece | 28,000 |
Chile | 23,100 (2021) |
Russia | 20,600 (2019) |
Mexico | 20,500 |
Costa Rica | 17,900 (2021) |
*Figures have been rounded to the nearest hundred; if data is unavailable for 2022, figures for 2021, 2020 or 2019 are shown.
Country | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | Δ |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Australia | 31,443 | 31,731 | 32,885 | 34,159 | 35,909 | 35,619 | 37,073 | 37,673 | 37,206 | 37,657 | 38,181 | 38,217 | 38,571 | 38,830 | 39,314 | 40,525 | 42,022 | 42,940 | — | 11,497 |
Austria | 39,569 | 40,808 | 41,743 | 42,595 | 42,989 | 42,871 | 42,478 | 42,196 | 42,593 | 41,751 | 41,771 | 41,336 | 41,874 | 42,252 | 42,577 | 42,837 | 41,473 | 42,781 | 43,452 | 3,883 |
Belgium | 36,928 | 37,066 | 37,661 | 38,276 | 38,827 | 38,906 | 38,334 | 37,957 | 38,043 | 38,001 | 38,084 | 38,164 | 38,573 | 39,067 | 39,327 | 40,129 | 40,110 | 41,289 | 40,770P | 3,842 |
Canada | 30,210P | 30,482P | 31,772P | 32,548P | 33,431P | 33,732P | 34,497P | 34,699P | 35,082P | 35,476P | 35,520P | 36,292P | 35,879P | 36,739P | 36,909P | 37,277P | 39,204P | 39,582P | 39,065P | 8,855 |
Costa Rica | — | — | — | — | — | — | — | — | 14,088 | 14,274 | 14,554 | 15,038 | 15,953 | 16,957 | 17,236 | 17,405 | — | — | — | 3,317 |
Czech Republic | 22,870 | 23,641 | 24,525 | 25,090 | 25,360 | 25,772 | 25,907 | 25,648 | 25,430 | 25,399 | 26,003 | 26,761 | 27,487 | 28,646 | 29,695 | 30,663 | 30,766 | 32,045 | 31,163 | 8,293 |
Denmark | 31,761 | 32,347 | 33,020 | 32,818 | 32,747 | 33,452 | 34,424 | 34,584 | 34,428 | 34,680 | 35,018 | 36,025 | 36,930 | 37,354 | 37,814 | 38,392 | 37,939 | 38,368 | 38,353 | 6,592 |
Estonia | 13,968 | 15,438 | 17,434 | 18,788 | 20,093 | 18,567 | 17,883 | 18,511 | 18,525 | 19,526 | 20,388 | 21,605 | 22,496 | 23,288 | 24,595 | 25,494 | 25,885 | 27,036 | 25,673 | 11,705 |
Finland | 32,147 | 32,512 | 33,057 | 33,981 | 34,602 | 34,718 | 35,396 | 35,495 | 35,317 | 35,163 | 34,861 | 35,139 | 35,698 | 35,966 | 36,567 | 37,295 | 37,366 | 37,939 | 37,250 | 5,103 |
France | 35,569 | 35,736 | 36,381 | 37,213 | 37,203 | 37,685 | 38,164 | 38,109 | 37,952 | 37,534 | 37,862 | 38,083 | 38,583 | 39,052 | 39,313 | 39,923 | 39,218 | 40,583P | 40,781P | 5,212 |
Germany | 36,965 | 37,285 | 37,745 | 37,893 | 38,311 | 38,322 | 38,738 | 39,372 | 39,637 | 39,653 | 40,156 | 40,776 | 41,716 | 42,241 | 43,014 | 43,338P | 43,858P | 44,059P | 43,758P | 6,793 |
Greece | 27,353 | 27,429 | 28,822 | 29,655 | 29,824 | 29,933 | 27,367 | 24,120 | 21,394 | 20,349 | 20,782 | 21,266 | 21,387 | 21,315 | 21,604 | 22,947 | 22,288P | 23,871P | 24,399P | -2,954 |
Hungary | 18,799 | 19,664 | 20,044 | 19,169 | 18,839 | 18,182 | 18,081 | 18,752 | 18,235 | 18,600 | 19,160 | 19,871 | 20,681 | 21,873 | 23,422 | 24,458 | 24,127 | 25,587 | 26,527P | 7,728 |
Ireland | 26,413 | 27,777 | 28,184 | 29,005 | 29,937 | 29,541 | 28,685 | 27,332 | 27,424 | 26,856 | 26,819 | 27,731 | 28,615 | 29,751 | 30,255 | 31,265 | 33,129 | 33,621 | 33,386 | 6,973 |
Italy | 36,257 | 36,279 | 36,456 | 36,693 | 35,895 | 35,062 | 34,423 | 34,082 | 32,289 | 32,034 | 32,192 | 32,560 | 32,980 | 33,352 | 33,711 | 33,810 | 33,223 | 34,416 | 34,081 | -2,176 |
Japan | 27,415 | 27,906 | 28,295 | 28,617 | 28,334 | 28,541 | 28,957 | 29,099 | 29,515 | 29,711 | 29,337 | 29,698 | 30,163 | 30,420 | 30,660 | 31,124 | 32,366 | 31,768 | 31,709 | 4,294 |
Korea | 18,421 | 18,809 | 19,417 | 20,229 | 20,513 | 20,742 | 21,505 | 21,821 | 22,246 | 23,043 | 23,714 | 24,936 | 25,263 | 25,650 | 26,404 | 27,165 | 27,926 | 28,478 | — | 10,057 |
Latvia | 13,201 | 14,727 | 16,718 | 18,189 | 18,912 | 16,783 | 16,304 | 15,775 | 16,568 | 17,172 | 17,953 | 19,172 | 20,183 | 21,136 | 22,207 | 22,657 | 23,159 | 24,397 | 23,781 | 10,580 |
Lithuania | 17,880 | 19,166 | 21,225 | 21,841 | 23,644 | 21,459 | 21,774 | 22,350 | 22,918 | 23,872 | 24,322 | 25,410 | 27,191 | 27,756 | 28,934 | 30,933 | 32,863 | 33,685 | 32,137 | 14,257 |
Luxembourg | 45,560 | 44,604 | 45,225 | 45,782 | 46,053 | 47,178 | 47,212 | 47,029 | 47,336 | 48,436 | 48,446 | 47,816 | 47,333 | 48,372 | 49,007 | 50,017 | 52,107 | 52,101 | 51,946 | 6,386 |
Mexico | 14,914P | 14,912 | 15,740 | 15,624 | 15,483 | 15,281 | 15,409 | 16,356 | 16,449 | 16,672 | 16,879 | 17,725 | 17,692 | 17,555 | 17,509 | 17,808 | 16,454 | 17,490P | 17,164P | 2,250 |
Netherlands | 34,697 | 34,645 | 36,004 | 36,688 | 37,155 | 37,731 | 37,685 | 37,777 | 37,468 | 37,010 | 37,388 | 37,746 | 38,286 | 38,454 | 39,175 | 39,940 | 40,393 | 41,497P | 41,860P | 7,163 |
New Zealand | 25,173 | 25,686 | 26,484 | 27,851 | 27,202 | 27,794 | 28,124 | 28,934 | 29,139 | 29,509 | 29,378 | 30,078 | 30,881 | 31,632 | 32,635 | 33,599 | 35,372 | — | — | 10,199 |
Norway | 35,254 | 37,570 | 35,519 | 36,897 | 37,520 | 38,578 | 39,125 | 39,938 | 40,907 | 41,711 | 42,120 | 43,442 | 42,833 | 43,256 | 43,289 | 43,737 | 43,407 | 44,835 | 43,623 | 8,369 |
Poland | 16,227 | 16,419 | 17,237 | 18,017 | 18,787 | 19,694 | 20,525 | 20,568 | 20,792 | 21,014 | 22,149 | 22,808 | 24,067 | 24,918 | 25,932 | 27,198 | 28,336 | 28,274 | 28,588 | 12,361 |
Portugal | 25,893 | 26,030 | 25,847 | 26,098 | 26,347 | 27,023 | 26,867 | 25,772 | 24,867 | 24,629 | 24,476 | 25,226 | 25,895 | 26,232 | 26,883 | 27,881 | 27,164 | 28,124 | 28,176P | 2,283 |
Slovakia | 15,873 | 16,436 | 17,187 | 18,819 | 20,032 | 20,310 | 20,746 | 20,203 | 20,080 | 19,982 | 20,381 | 21,436 | 22,062 | 22,701 | 24,142 | 24,797 | 24,811 | 25,429 | 25,299 | 9,426 |
Slovenia | 23,160 | 24,141 | 24,690 | 25,536 | 26,209 | 25,832 | 25,684 | 25,736 | 24,686 | 24,119 | 24,357 | 24,901 | 25,997 | 26,759 | 27,830 | 28,671 | 29,751 | 30,995 | 30,997 | 7,837 |
Spain | 29,655 | 30,208 | 30,420 | 30,518 | 30,739 | 30,833 | 30,325 | 29,790 | 27,802 | 27,548 | 27,567 | 28,674 | 29,356 | 29,783 | 30,112 | 30,987 | 30,435 | 31,203P | 30,308P | 653 |
Sweden | 30,420 | 31,044 | 32,177 | 33,335 | 33,948 | 34,234 | 34,835 | 35,538 | 36,351 | 36,642 | 36,960 | 37,592 | 38,553 | 38,540 | 38,632 | 38,821 | 38,166 | 39,404 | 39,048 | 8,628 |
Switzerland | 38,387 | 39,165 | 40,203 | 41,371 | 41,445 | 41,696 | 42,089 | 42,196 | 42,828 | 43,491 | 43,694 | 43,926 | 44,109 | 43,533 | 43,499 | 44,059 | 45,284 | 45,189P | 45,784P | 7,397 |
United Kingdom | 31,908 | 32,407 | 32,733 | 33,564 | 33,179 | 33,491 | 33,572 | 32,674 | 33,222 | 33,634 | 34,172 | 35,785 | 35,774 | 35,889 | 36,291 | 36,876 | 35,712 | 37,326 | 36,564 | 4,656 |
United States | 44,407 | 44,402 | 45,434 | 45,954 | 46,360 | 46,242 | 46,665 | 47,208 | 48,066 | 47,089 | 48,200 | 49,605 | 50,220 | 51,283 | 52,678 | 54,040 | 57,374 | 59,037 | 55,532 | 11,125 |
The median equivalised disposable income is the median of the disposable income which is equivalised by dividing income by the square root of household size; the square root is used to acknowledge that people sharing accommodation benefit from pooling at least some of their living costs. [4] [5] The median equivalised disposable income for individual countries corrected for purchasing power parity (PPP) for 2021 in United States dollars is shown in below table. [3]
Location | 2021 (USD PPP) |
---|---|
Luxembourg | 49,748 |
United States | 48,625 |
Norway | 41,621 |
Switzerland | 39,698 |
Canada | 39,388 |
Austria | 37,715 |
Belgium | 37,110 |
Iceland | 36,853 |
Australia | 36,835 |
Netherlands | 35,891 |
Germany | 35,537 |
Denmark | 34,061 |
Sweden | 33,472 |
New Zealand | 32,158 |
South Korea | 31,882 |
Ireland | 31,392 |
Finland | 30,727 |
France | 30,622 |
Slovenia | 28,698 |
Italy | 27,949 |
United Kingdom | 26,884 |
Spain | 26,630 |
Estonia | 26,075 |
Poland | 24,264 |
Czech Republic | 23,802 |
Israel | 21,366 |
Japan | 21,282 |
Lithuania | 20,856 |
Latvia | 19,908 |
Croatia | 19,680 |
Portugal | 19,147 |
Greece | 16,774 |
Slovak Republic | 16,410 |
Hungary | 15,361 |
Romania | 15,898 |
Bulgaria | 14,990 |
Turkey | 10,341 |
Chile | 10,101 |
Costa Rica | 8,915 |
Mexico | 6,090 |
South Africa | 6,068 |
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic health of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund.
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law.
Per capita income (PCI) or average income measures the average income earned per person in a given area in a specified year.
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies. PPP is effectively the ratio of the price of a market basket at one location divided by the price of the basket of goods at a different location. The PPP inflation and exchange rate may differ from the market exchange rate because of tariffs, and other transaction costs.
Disposable income is total personal income minus current taxes on income. In national accounting, personal income minus personal current taxes equals disposable personal income or household disposable income. Subtracting personal outlays yields personal savings, hence the income left after paying away all the taxes is referred to as disposable income.
The poverty threshold, poverty limit, poverty line, or breadline is the minimum level of income deemed adequate in a particular country. The poverty line is usually calculated by estimating the total cost of one year's worth of necessities for the average adult. The cost of housing, such as the rent for an apartment, usually makes up the largest proportion of this estimate, so economists track the real estate market and other housing cost indicators as a major influence on the poverty line. Individual factors are often used to account for various circumstances, such as whether one is a parent, elderly, a child, married, etc. The poverty threshold may be adjusted annually. In practice, like the definition of poverty, the official or common understanding of the poverty line is significantly higher in developed countries than in developing countries.
The median income is the income amount that divides a population into two groups, half having an income above that amount, and half having an income below that amount. It may differ from the mean income. Both of these are ways of understanding income distribution.
Real income is the income of individuals or nations after adjusting for inflation. It is calculated by dividing nominal income by the price level. Real variables such as real income and real GDP are variables that are measured in physical units, while nominal variables such as nominal income and nominal GDP are measured in monetary units. Therefore, real income is a more useful indicator of well-being since it measures the amount of goods and services that can be purchased with the income. Growth of real income is related to real gross national income per capita growth.
Household income is an economic standard that can be applied to one household, or aggregated across a large group such as a county, city, or the whole country. It is commonly used by the United States government and private institutions to describe a household's economic status or to track economic trends in the US.
Personal income is an individual's total earnings from wages, investment interest, and other sources. The Bureau of Labor Statistics reported a median weekly personal income of $1,139 for full-time workers in the United States in Q1 2024. For the year 2022, the U.S. Census Bureau estimates that the median annual earnings for all workers was $47,960; and more specifically estimates that median annual earnings for those who worked full-time, year round, was $60,070.
Income in India discusses the financial state in India. With rising economic growth and India's income is also rising rapidly. As an overview, India's per capita net national income or NNI was around Rs. 98,374 in 2022-23. The per-capita income is a crude indicator of the prosperity of a country. In contrast, the gross national income at constant prices stood at over 128 trillion rupees. According to a 2021 report by the Pew Research Center, India has roughly 1.2 billion lower-income individuals, 66 million middle-income individuals, 16 million upper-middle-income individuals, and barely 2 million in the high-income group. According to The Economist, 78 million of India's population are considered middle class as of 2017, if defined using the cutoff of those making more than $10 per day, a standard used by the India's National Council of Applied Economic Research. According to the World Bank, 93% of India's population lived on less than $10 per day, and 99% lived on less than $20 per day in 2021.
Poverty in Switzerland refers to people who are living in relative poverty in Switzerland. In 2018, 7.9% of the population or some 660,000 people in Switzerland were affected by income poverty. Switzerland has also a significant number of working poor, estimated at 145,000 in 2015.
Median household disposable income in the UK was £29,400 in the financial year ending (FYE) 2019, up 1.4% (£400) compared with growth over recent years; median income grew by an average of 0.7% per year between FYE 2017 and FYE 2019, compared with 2.8% between FYE 2013 and FYE 2017.
This article includes several ranked indicators for Chile's regions.
Wealth is the total sum value of monetary assets and valuable material possessions owned by an individual, minus private debt, at a set point in time.