2 February 2011 Regional households’ disposable income Years 2006-2009 Istat disseminates regional accounts for households up to disposable income for the years 2008 and 2009. Regional households’ accounts show the economic behaviour of the Household sector in its crucial steps, from production to disposable income formation in each Italian region. Data are provided at NUTS2 level. Data for 2007 and 2006 have been revised, coherently with national sector accounts published in July 20101 and with regional accounts published in September 20102. Main results During the period 2006-2009 households’ disposable income has been concentrating for about 53% in the North area, for 26% in the South and the Islands and for the remaining 21% in the Centre. The North-west area quota decreased from 31.1% in 2006 to 30.5% in 2009, while the Centre quota increased from 20.9% in 2006 to 21.4% in 2009 and the South quota from 25.9% to 26.1%. The North-east one remained unchanged at 22%. The growth rate of household disposable income progressively reduced from +3.5% in 2006 to -2.7% in 2009. The decline was more evident in the North (-4.1% in the North-West, -3.4 in the North-East), less in the Centre (-1,8%) and in the South and the Islands (-1,2%). This is mainly due to the fall of property incomes, even if in some regions (especially Piemonte and Abruzzo), the decrease of compensation of employees gave an important contribution too (Figure 1). The decline of North-west households’ income in 2009 is to be imputed to the performance of Piemonte and Lombardia, that alone accounted for 90% of this area disposable income. In Piemonte, in fact, the labour input supplied by employees reduced and therefore their compensation declined. Lombardia, instead, suffered from the drop of profits distributed by enterprises induced by the decrease of their value added3. Households living in the South and the Islands appear to have less suffered the impact of the economic crises. Calabria and Sicilia are the only two Italian regions where household disposable income slightly increased. In the same regions also the GDP dynamic has been better than elsewhere. Southern regions also benefited of the performance of net interests received by households. The lower propensity to risky investments of southern households, while in the previous year retained the growth of property income, in 2009 saved them from the decrease of receivable interest lead by the economic crises (interest rates of less risky asset decreased less). Moreover, the lower debt load of southern households limited the negative impact on gross operating surplus of the increase of intermediate costs for Fisim4, caused by the increase of the spread on borrowing rates. Also in 2008, when the national disposable income increased by 2.3%, North-West recorded the lowest growth rate (+1.8%), because of feeble growth in Lombardia and Liguria (+1.2% and +1.8%). In this year, instead the North-East, displayed the most relevant increase: this is the area where the regions experienced a faster growth: Friuli-Venezia Giulia, Veneto and Trento (+5%, +4.3% and +3.6% respectively). At the same 1 Statistics in brief - Annual non-financial accounts (1990-2009) published on: 22 July 2010 (http://en.istat.it/salastampa/comunicati/non_calendario/20100722_00/). 2 Statistics in brief - Regional Accounts (year 2009), published on: 28 September 2010 (http://en.istat.it/salastampa/comunicati/non_calendario/20100928_00/). 3 We remind that compensation of employees received by resident households do not completely overlap with compensation of employees displayed in regional accounts which are recorded according to employers residence. 4 Services offered by financial intermediaries that do not have an explicit price, but are indirectly paid for by the spread between rates applied to savers and borrowers. time Centre and South and the Islands raised similarly to national average (+2.5 and 2.2 respectively). The highest growth rate in the Central area is recorded for Lazio (+2.9%), the highest in the Southern area are displayed for Abruzzo (+3.4%) and Basilicata (+3.1%). The regions where household disposable income showed the weakest growth are in the South: Molise (+ 0.8%) and Calabria (+1.1%). Figure 1 - Contribution to households’ disposable income growth rate – Year 2009 2009 2009 5.0 gross operating surplus compensation of employees social benefits-contrib.-curr.taxes+other tr. social benefits-contrib.-curr.taxes+other tr. property income compensation of employees mixed income gross operating surplus disposable income mixed income property income disposable income 3.0 3.0 2.0 1.0 1.0 0.0 -1.0 -1.0 -3.0 -2.0 -3.0 -5.0 -4.0 -7.0 -5.0 -6.0 -9.0 ITALY V. Pi em on t D e Lo ' Ao m st a ba rd Bo ia lza n Tr o en t Ve o Fr ne t iu li- o V. G Em Lig . ilia uria -R o To m. sc an U a m br M ia ar ch e La z Ab io ru zz M o C olis am e pa ni a Pu Ba gli sil a ic C at a al ab ria Si Sa cilia rd eg na IT AL Y -7.0 NorthWest NorthEast Centre South and Islands Figure 2 - Contribution to households’ disposable income growth rate – Year 2008 2008 2008 6.0 gross operating surplus compensation of employees social benefits-contrib.-curr.taxes+other tr. mixed income property income disposable income 5.0 5.5 social benefits-contrib.-curr.taxes+other tr. property income compensation of employees mixed income gross operating surplus disposable income 4.5 4.0 3.5 3.0 2.0 2.5 1.0 1.5 0.0 0.5 -1.0 -2.0 -0.5 -3.0 -1.5 -4.0 Pi em V. ont D e Lo ' Ao m st a ba rd Bo ia lza n Tr o en t Ve o Fr ne t iu li- o V. G Em Lig . ilia uria -R o To m. sc an U a m br i M a ar ch e La z Ab io ru zz M o C olis am e pa ni a Pu Ba gli sil a ic C at a al ab ria Si Sa cilia rd eg na IT AL Y -2.5 ITALY NorthWest NorthEast Centre South and Islands Figure 3 - Contribution to households’ disposable income growth rate – Year 2007 2007 7.0 gross operating surplus compensation of employees social benefits-contrib.-curr.taxes+other tr. 2007 mixed income property income disposable income 6.0 social benefits-contrib.-curr.taxes+other tr. property income compensation of employees mixed income gross operating surplus disposable income 6.0 5.0 5.0 4.0 4.0 3.0 3.0 2.0 2.0 1.0 1.0 0.0 0.0 -1.0 -1.0 -2.0 Pi V. em on t D' e A Lo os m ba t a rd Bo i a lza no Tr en t Ve o Fr net iu o liV. G Em Lig . ilia uria -R o To m. sc an U a m br i M a ar ch e La z Ab io ru zz M o C olis am e pa ni a Pu Ba gli sil a ic at C al a ab ria Si Sa cilia rd eg na IT AL Y -2.0 ITALY NorthWest NorthEast Centre South and Islands Up to 2008, households living in the North-western regions recorded the highest per capita5 disposable income, but in 2009 the North-eastern regions topped the list, and Bolzano ranked first, overtaking EmiliaRomagna. During 2009 per-inhabitant disposable income of southern regions decreased less than in the other areas, converging to the national average. Nevertheless, differences in levels of per capita disposable income remain significant: northern regions still recorded the highest levels and the southern regions the lowest, while the central regions were in an intermediate position. The only exception was Toscana, which was closer to Northern regions levels (Figure 4). Figure 4 - Disposable household income per inhabitant - Year 2009 5 Wide differences in size and population of the Italian regions makes it meaningless to compare the total amounts of disposable income, comparisons are normally expressed in terms of amounts per head of the population. Table 1 – Households’ disposable income. Main aggregates by regions and area -Year 2006 (millions of euro) Piemonte Valle d'Aosta - Vallée d'Aoste Lombardia Bolzano-Bozen Trento Veneto Friuli-Venezia Giulia Liguria Emilia-Romagna Toscana Umbria Marche Lazio Abruzzo Molise Campania Puglia Basilicata Calabria Sicilia Sardegna Italy1 North-West North-East Centre South and Islands Italy Gross operating surplus (+) 8,066 231 20,918 981 903 9,563 2,460 3,375 9,342 6,929 1,509 2,606 10,879 1,618 427 6,296 4,903 674 2,373 6,068 2,125 102,245 32.0 22.7 21.4 23.9 100 Mixed Compensation of Property income employees incomes, net* (+) (+) (+) 20,776 48,157 20,902 649 1,402 575 41,387 123,270 48,924 2,814 6,210 1,973 2,053 6,004 1,924 21,237 54,763 20,585 4,719 14,968 4,545 6,944 15,832 7,067 19,681 51,743 22,163 16,012 39,470 15,535 3,310 8,635 2,918 6,506 15,941 6,092 20,302 66,786 18,455 4,337 11,606 3,155 1,122 2,503 769 13,832 42,245 12,306 11,262 29,671 7,635 2,069 4,503 1,131 5,691 13,847 3,379 13,421 36,470 8,552 5,290 13,939 3,163 223,414 607,964 211,748 31.3 22.6 20.6 25.5 100 31.0 22.0 21.5 25.5 100 36.6 24.2 20.3 18.9 100 Primary Social incomes Current taxes contributions (=) (-) (-) 97,901 14,941 18,227 2,857 446 516 234,499 38,190 45,300 11,978 1,728 2,274 10,884 1,730 2,141 106,148 15,056 20,593 26,692 3,978 5,456 33,218 5,536 5,761 102,929 15,539 19,227 77,946 11,386 14,531 16,372 2,301 3,155 31,145 4,098 6,006 116,422 18,598 24,242 20,716 2,858 4,327 4,821 590 933 74,679 9,564 14,544 53,471 6,812 10,675 8,377 972 1,646 25,290 2,922 4,678 64,511 8,325 12,570 24,517 3,202 4,847 1,145,371 168,769 221,648 32.2 22.6 21.1 24.1 100 35.0 22.5 21.6 20.9 100 31.5 22.4 21.6 24.5 100 Social benefits (+) 23,980 687 49,492 2,266 2,533 21,873 6,810 9,800 23,374 19,287 4,597 7,328 27,516 5,688 1,255 19,948 15,873 2,261 7,587 18,598 6,857 277,613 Other current transfers, net (+) 1,444 17 3,086 7 128 1,623 429 453 1,240 1,311 159 413 1,512 134 12 84 5 12 49 80 31 - 11,767 30.2 20.5 21.2 28.1 100 42.6 29.1 28.8 0.5 100 Disposable income (=) 87,269 2,565 197,415 10,235 9,418 90,749 23,639 31,268 90,297 70,005 15,354 27,956 99,586 19,085 4,565 70,603 51,862 8,008 25,326 62,294 23,294 1,020,800 31.1 22.0 20.9 26.0 100 Table 2 – Households’ disposable income. Main aggregates by regions and area - Year 2007 (millions of euro) Piemonte Valle d'Aosta - Vallée d'Aoste Lombardia Bolzano-Bozen Trento Veneto Friuli-Venezia Giulia Liguria Emilia-Romagna Toscana Umbria Marche Lazio Abruzzo Molise Campania Puglia Basilicata Calabria Sicilia Sardegna Italy1 North-West North-East Centre South and Islands Italy 1 Gross operating surplus (+) 8,640 250 21,916 1,062 971 9,870 2,613 3,474 9,834 7,410 1,648 2,786 11,804 1,749 443 6,653 5,228 687 2,460 6,389 2,279 108,165 31.7 22.5 21.9 23.9 100 Mixed Compensation of Property income employees incomes, net* (+) (+) (+) 20,586 50,139 21,767 693 1,418 615 42,084 127,609 51,884 2,888 6,522 2,083 2,163 6,212 2,126 21,484 57,630 21,306 4,946 15,468 4,836 7,344 16,475 7,569 20,493 54,430 23,335 16,660 40,757 16,325 3,252 9,207 2,943 6,422 16,673 6,307 20,902 70,166 19,537 4,526 12,005 3,364 1,149 2,615 771 14,026 43,540 12,929 11,329 30,720 8,089 2,175 4,591 1,190 5,593 14,316 3,464 13,542 37,231 8,854 5,386 14,179 3,380 227,642 631,902 222,677 31.0 22.8 20.8 25.4 100 31.0 22.2 21.6 25.2 100 36.7 24.1 20.3 18.9 100 Primary Social incomes Current taxes contributions (=) (-) (-) 101,132 16,055 19,208 2,976 487 539 243,493 41,364 47,447 12,555 1,852 2,409 11,472 1,856 2,235 110,290 16,375 21,838 27,863 4,257 5,721 34,862 5,894 6,146 108,092 16,635 20,467 81,152 12,154 15,257 17,050 2,463 3,387 32,188 4,436 6,328 122,409 19,964 25,635 21,644 3,066 4,585 4,978 629 992 77,148 10,198 15,397 55,366 7,262 11,342 8,643 1,034 1,736 25,833 3,077 4,932 66,016 8,814 13,102 25,224 3,398 5,115 1,190,386 181,271 233,820 32.2 22.7 21.2 23.9 100 35.2 22.6 21.5 20.7 100 31.4 22.5 21.6 24.5 100 Social benefits (+) 24,873 705 51,585 2,393 2,658 22,873 7,064 10,116 24,307 20,036 4,794 7,730 29,192 5,947 1,324 21,037 16,687 2,380 8,043 19,930 7,294 290,968 Other current transfers, net (+) 1,495 12 3,346 71 142 1,734 331 461 1,374 1,415 136 310 949 105 109 115 88 1 114 31 41 - 11,502 30.0 20.4 21.2 28.4 100 46.0 31.8 24.4 2.2 100 Disposable income (=) 89,247 2,667 202,921 10,616 9,897 93,216 24,618 32,477 93,923 72,362 15,858 28,844 105,053 19,835 4,790 72,705 53,537 8,254 25,981 63,999 23,964 1,054,761 31.0 22.0 21.1 25.9 100 National total does not include economic activities not ascribable to specific territory (ex: Italian embassies abroad, sea oil rig). (*) Property incomes include the flows of mixed income transferred from producer to consumer unit. The national balancing item of this flow is zero, while at a regional level it is determined by the difference between the residence of the productive unit and the one of its owner. Interests included in this flow are corrected for Fisim. Table 3 – Households’ disposable income. Main aggregates by regions and area - Year 2008 (millions of euro) Piemonte Valle d'Aosta - Vallée d'Aoste Lombardia Bolzano-Bozen Trento Veneto Friuli-Venezia Giulia Liguria Emilia-Romagna Toscana Umbria Marche Lazio Abruzzo Molise Campania Puglia Basilicata Calabria Sicilia Sardegna Italy1 North-West North-East Centre South and Islands Italy Gross operating surplus (+) 9,116 263 23,374 1,093 1,013 10,362 2,737 3,800 10,508 8,016 1,701 2,933 12,891 1,889 453 6,833 5,627 698 2,524 7,078 2,476 115,384 Mixed Compensation of Property income employees incomes, net* (+) (+) (+) 20,833 52,381 22,114 709 1,468 653 42,694 131,375 49,964 3,099 6,746 2,087 2,226 6,510 2,124 21,161 61,193 22,653 4,962 15,987 5,466 7,502 16,962 7,511 20,953 56,566 22,660 16,893 43,013 15,453 3,414 9,406 2,904 6,608 17,197 6,359 20,974 72,989 19,505 4,569 12,638 3,385 1,219 2,735 764 14,366 43,842 13,017 11,293 31,987 7,961 2,254 4,747 1,208 5,661 14,483 3,471 13,368 38,587 8,637 5,472 14,405 3,337 230,231 655,217 221,234 31.7 22.3 22.1 23.9 100 31.1 22.8 20.8 25.3 100 30.9 22.4 21.8 24.9 100 36.2 24.9 20.0 18.9 100 Primary Social incomes Current taxes contributions (=) (-) (-) 104,444 16,713 20,165 3,093 489 566 247,407 42,834 49,331 13,025 1,940 2,545 11,873 1,943 2,364 115,369 17,058 23,263 29,152 4,485 5,972 35,775 6,172 6,396 110,687 17,716 21,484 83,375 12,709 16,243 17,425 2,624 3,519 33,097 4,660 6,631 126,359 21,134 26,850 22,481 3,209 4,863 5,171 683 1,051 78,058 10,882 15,741 56,868 7,772 11,880 8,907 1,095 1,819 26,139 3,296 5,094 67,670 9,404 13,722 25,690 3,641 5,283 1,222,066 190,457 244,780 32.0 22.9 21.3 23.8 100 34.7 22.7 21.6 21.0 100 31.2 22.7 21.8 24.3 100 Social benefits (+) 26,126 755 53,864 2,470 2,827 24,032 7,382 10,471 25,351 20,997 5,021 8,048 30,654 6,271 1,405 22,326 17,569 2,528 8,431 21,006 7,598 305,133 Other current transfers, net (+) 1,567 51 3,705 171 139 1,848 218 586 1,592 1,436 125 396 897 168 16 209 133 12 79 168 94 - 12,432 29.9 20.3 21.2 28.6 100 47.5 31.9 23.0 2.4 100 Disposable income (=) 92,125 2,742 205,401 10,839 10,254 97,232 25,859 33,092 95,246 73,984 16,178 29,458 108,132 20,512 4,826 73,970 54,918 8,509 26,259 65,718 24,270 1,079,530 30.9 22.2 21.1 25.8 100 Table 4 – Households’ disposable income. Main aggregates by regions and area - Year 2009 (millions of euro) Piemonte Valle d'Aosta - Vallée d'Aoste Lombardia Bolzano-Bozen Trento Veneto Friuli-Venezia Giulia Liguria Emilia-Romagna Toscana Umbria Marche Lazio Abruzzo Molise Campania Puglia Basilicata Calabria Sicilia Sardegna Italy1 North-West North-East Centre South and Islands Italy 1 Gross operating surplus (+) 9,330 267 23,166 1,118 998 10,203 2,683 3,800 10,610 7,934 1,738 2,971 12,895 1,874 450 6,870 5,584 707 2,509 7,217 2,500 115,424 Mixed Compensation of Property income employees incomes, net* (+) (+) (+) 20,600 50,600 16,603 652 1,515 505 41,658 130,058 39,076 3,042 6,927 1,714 2,217 6,706 1,722 20,857 60,613 18,347 4,808 15,958 4,280 7,491 17,133 5,883 20,231 56,398 17,750 17,127 42,926 12,595 3,294 9,286 2,463 6,552 17,079 5,220 20,880 73,299 16,111 4,553 11,920 2,827 1,227 2,676 669 14,234 43,128 10,812 10,712 31,817 6,530 2,160 4,805 1,005 5,788 14,676 2,927 13,542 38,710 7,465 5,360 14,513 2,828 226,984 650,744 177,332 31.7 22.2 22.1 24.0 100 31.0 22.5 21.1 25.4 100 30.7 22.5 21.9 24.9 100 35.0 24.7 20.5 19.8 100 Primary Social incomes Current taxes contributions (=) (-) (-) 97,133 15,820 19,569 2,939 478 574 233,958 41,056 48,803 12,801 1,903 2,607 11,643 1,905 2,428 110,020 16,416 23,046 27,729 4,307 5,954 34,307 6,021 6,465 104,989 16,929 21,407 80,582 12,396 16,255 16,781 2,541 3,475 31,822 4,520 6,632 123,185 20,824 26,973 21,174 3,094 4,652 5,022 669 1,040 75,044 10,679 15,534 54,643 7,726 11,789 8,677 1,095 1,835 25,900 3,283 5,157 66,934 9,317 13,846 25,201 3,615 5,296 1,170,484 184,594 243,338 31.5 22.8 21.6 24.1 100 34.3 22.5 21.8 21.4 100 31.0 22.8 21.9 24.3 100 Social benefits (+) 27,395 788 56,732 2,617 2,920 25,117 7,754 11,053 26,608 22,035 5,257 8,405 32,162 6,594 1,451 23,302 18,524 2,635 8,884 22,016 7,922 320,168 Other current transfers, net (+) 1,512 17 3,722 138 146 1,878 232 529 1,584 1,468 101 376 931 133 45 294 124 6 68 130 75 - 12,188 30.0 20.3 21.2 28.5 100 47.5 32.6 23.6 3.7 100 Disposable income (=) 87,627 2,658 197,109 10,770 10,084 93,797 24,990 32,345 91,677 72,498 15,921 28,699 106,619 19,889 4,809 72,427 53,776 8,376 26,412 65,917 24,137 1,050,532 30.5 22.0 21.3 26.2 100 National total does not include economic activities not ascribable to specific territory (ex: Italian embassies abroad, sea oil rig). (*) Property incomes include the flows of mixed income transferred from producer to consumer unit. The national balancing item of this flow is zero, while at a regional level it is determined by the difference between the residence of the productive unit and the one of its owner. Interests included in this flow are corrected for Fisim. Contact person: National Accounts Directorate ISTAT – Italian National Institute of Statistics Via A. Depretis 74b – 00184 Rome, Italy Francesca Tartamella ph. +39 06 4673.3128