Richest group’s share in income increases

ANKARA

The share of the richest 20 percent of the population in total income increased from 48 percent in 2022 to 49.8 percent last year, the Turkish Statistical Institute (TÜİK) has said.

The share of the bottom quintile, on the other hand, shrank from 6 percent to 5.9 percent.

The Gini coefficient, a measure of income inequality ranging between 0 (complete equality) to 1 (complete inequality) was estimated at 0.433 for 2023 against 0.415 in 2022, the statistics authority said on Jan. 29.

Wages and salaries captured the highest share in total income, with 48.5 percent last year, rising from 46.2 percent in 2022. Entrepreneurial income accounted for 22.1 percent of the total, up from 21 percent in the previous year.

The mean annual equivalized household disposable income increased by 72.3 percent in 2023 compared to the previous year to 83,808 Turkish Liras ($27,62).

One-person households had the highest mean annual disposable income at 100,076 liras, pointing to an increase of 37,522 liras compared to 2022.

The mean annual income of higher education graduates was 157,851 liras, followed by high school graduates at 114,374 liras. The income of illiterate individuals was 45,637 liras.

The highest annual mean income was in the services sector, with 121,013 liras, while the lowest income was in agriculture, with 92,632 liras.

Employers had the highest mean annual income for main jobs with 408,174 liras, while it was 115,622 liras for self-employed.

The mean annual income of households in Istanbul was 114,634 liras, which was the highest, followed by Ankara with 108,036 liras and the region, including the northwestern provinces of Tekirdağ, Edirne and Kırklareli, at 101,372 liras, showed the data from TÜİK.