GDP real wage decreased for the first time in the last 10 years — FBK

Date of publication

15.04.2011

According to results of 2010 GDP real wage made 39,5%.This essential macroeconomic showing is calculated as the ratio of aggregate nominal wage engaged in economy towards amount of national GDP. As experts note for the first time in the last ten years GDP real wage decreased: so, in 2000 the showing was 23,6%, in 2008 it went up to 35,2%, while in 2009 GDP real wage made record-breaking 40%.

Notwithstanding certain decrease the present amount of Russian GDP real wage is still higher than the showings of Belgium (38,1%), Norway (37,5%), Italy (30,9%) as well as Malta (38,1%) and Spain (37,7%) (see the table in Russian). “It is at the same level as showings of Netherlands and Cyprus (in both countries the GDP real wage is also 39,5%), however these countries are considerably ahead of Russia in terms of social level of living,” – notes Igor Nikolaev, Director of FBK’s Strategic Analysis Department.

According to Igor Nikolaev, the present Russia’s high showings can be explained by considerable increase of the level of social support in 2009-2010, as well as the increase of the global oil prices. “The global trend allowed increasing salaries without increasing labor efficiency. Finally the average salary according to results of 2010 made 21193 which is 12,8% more than in 2009”, - the expert explained.

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