The Consumer Basket In Different Countries

The well-known blogger Polina Harbert decided to find out what $20 can buy in different countries around the world. She asked her fellow bloggers to buy $20 worth of groceries, take photos, and send them to her. Her goal was to determine which country offers the most value for this amount.

We at AdmiGram.com admire Polina’s enthusiasm, as she is essentially the first person to showcase a real-world “market basket” to the global public. To better understand how affordable life is for an average family in these countries, we decided to complement Polina’s findings with official statistical data.

The Consumer Basket in Different Countries

A bit of theory: What is a basket of goods?

The term “basket of goods” (or “market basket”) refers to a fixed set of goods and services necessary to satisfy a person’s basic needs. The cost of this basket is calculated in the local currency and is used to determine the average monthly cost of living.

In monetary terms, the value of the market basket should not fall below the government-mandated minimum wage or pension. The items included in this basket are typically divided into three categories:

Food products
Non-food items
Services

The percentage breakdown of these categories varies by country. For instance, in Europe, food accounts for only about 20% of the total cost, whereas in the poorest countries, this share can exceed 50–90%. Generally, the more developed a country’s economy, the greater the variety of goods and services included in its basket.