Average household debt stands at Bt118,434

With an average household income of Bt17,122 in the first half of this year, more than half the households surveyed in a recent study had average debts of Bt118,434, the National Statistical Office said Monday.

Most households have monthly costs of Bt14,640, or around 85.5 of their incomes. The average debt reached Bt118,434, or 6.9 times their incomes. Most debts have been incurred through purchases of land and residences, consumption and business investment.

Only 3.4 per cent of debts were incurred by further education and training courses.

While the average household income was 7 per cent higher than in 2005, the average living costs were 9.1 per cent higher in the same period, mainly due to travel expenses caused by higher oil prices.

The Nation