JUST IN: High inequality in Namibia
In Namibia, gross domestic product (GDP) per capita, which measures individual wealth, is projected to average just above US$4 100 - or about N$75 400 - during 2020-2022. As such, the country is classified as an upper-middle-income country, according to PSG.
However, this paints a misleading picture, since the distribution of income is highly unequal. According to the Namibia Statistics Agency (NSA), Namibia’s Gini coefficient was estimated at 57 for 2015-2016 – which improved from 60 in 2009-2010, but is still among the highest in the world.
The NSA estimates that 18% of Namibian households were living below the upper poverty line (US$40, or about N$730 per month) in 2015-2016, with huge variations between urban and rural areas and between ethnic groups.
Two-thirds of the Namibian population live in rural areas and engage in subsistence farming and livestock production.
#MarketWatch Online #NMHNews
However, this paints a misleading picture, since the distribution of income is highly unequal. According to the Namibia Statistics Agency (NSA), Namibia’s Gini coefficient was estimated at 57 for 2015-2016 – which improved from 60 in 2009-2010, but is still among the highest in the world.
The NSA estimates that 18% of Namibian households were living below the upper poverty line (US$40, or about N$730 per month) in 2015-2016, with huge variations between urban and rural areas and between ethnic groups.
Two-thirds of the Namibian population live in rural areas and engage in subsistence farming and livestock production.
#MarketWatch Online #NMHNews
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