Income Distribution In Zambia

Zambia gini index was 49 5 in 2018 down by 0 00 from the previous year.

Income distribution in zambia. Zambia income distribution income share held by second 20. From the bottom to the top of the distribution of income and wealth and also that span over much longer periods. The personal income tax rate in zambia stands at 37 50 percent. In terms of distribution of income the survey results revealed that the bottom 80 percent of the population in terms of earnings were reported to have acquired only 31 3 percent of the total income while the top 20 percent of the population claimed 68 67 percent of the total income.

Zambia had one of the world s fastest growing economies for the ten years up to 2014 with real gdp growth averaging roughly 6 7 per annum though growth slowed during the period 2015 to 2017 due to falling copper prices reduced power generation and depreciation of the kwacha. This is the average monthly salary including housing transport and other benefits. The gdp value of zambia represents 0 02 percent of the world economy. Zambia the source for global inequality data.

This page provides zambia personal income tax rate actual values historical data forecast chart statistics economic calendar and news. Salaries range from 1 520 zmk lowest average to 26 800 zmk highest average actual maximum salary is higher. The gross domestic product gdp in zambia was worth 23 06 billion us dollars in 2019 according to official data from the world bank and projections from trading economics. Personal income tax rate in zambia averaged 35 83 percent from 2013 until 2018 reaching an all time high of 37 50 percent in 2017 and a record low of 35 percent in 2014.

The results show that individuals and households that fall in the relative affluence group have achieved a modest standard of living and are actually near the top of the country s income ladder while households in the actual middle of the income distribution in zambia have a standard of living well below what can be perceived as a. 81001 zm zambia poverty assessment stagnant poverty and inequality in a natural resource based economy december 2012 poverty reduction and economic management. This shows that income is very unevenly distributed in zambia. Gdp in zambia averaged 7 28 usd billion from 1960 until 2019 reaching an all time high of 28 05 usd billion in 2013 and a record low of 0 69 usd.

Gini index measures the extent to which the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution. Open access high quality wealth and income inequality data developed by an international academic consortium.