Household debt slows
Household debt over the first six months of the year rose 6.4 per cent from 2004 to an average of Bt118,434 per household, a lower growth rate than the 12.6-per-cent increase recorded in 2004, according to National Statistical Office data released yesterday.
The average household debt represents about 6.9 times the average monthly income. Of the total debt, 35.2 per cent is debt for land and house purchase, followed by 24.6 per cent for consumption and 19.9 per cent for business establishment. The debt for education represents only 3.4 per cent. The remaining 13.8 per cent is for agricultural activities. The National Statistical Office also announced that over the first six months of the year, household income rose 7 per cent from 2004 to Bt17,122 per month, while household expenses rose 9.1 per cent to Bt14,640 per month. Of household income, 70.7 per cent was derived from work, comprising 37.1 per cent from wages and salaries, 20.6 per cent from business, and 13 per cent from the agricultural sector. Of household expenses, 28.7 per cent was spent on essential goods and non-alcoholic drinks, 22.2 per cent on furniture and appliances, 21.5 per cent on transportation and communication, and 10.9 per cent on other items.
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