Richest 20% taking bigger slice of pie

Richest 20% taking bigger slice of pie

ANKARA-Anadolu Agency
Richest 20% taking bigger slice of pie

The share of income of the richest 20% of Turkey's population in 2018 rose 0.2 points from the previous year, the country's statistical authority announced on Sept. 18. 

The top fifth of income distribution by equalized household disposable income reached 47.6% last year, the Turkish Statistical Institute (TÜİK) said in its income and living conditions survey.

The share of the bottom fifth -- the poorest 20% of the population -- stood at 6.1%, down 0.2 points during the same period.

The Gini coefficient, a measure of income inequality ranging between 0 (complete equality) to 1 (complete inequality) was estimated at 0.408 in 2018, rising 0.003 points year-on-year.

The survey found that wages and salaries held the highest proportion of total income, with 48.5% last year, falling 0.4 points from 2017.

"This was followed by social transfers at 20.1% with an increase of 0.4 points, and entrepreneurial incomes at 18.8%, with a decrease of 0.8 points compared to 2017," it said.