Gini Index Income Inequality By Country
Thus a gini index of 0 represents perfect equality while an index of 100 implies perfect inequality.
Gini index income inequality by country. R p 20 the ratio of the average income of the richest 20 to the poorest 20. The ratio of the average income of the richest 10 to the poorest 10. Gini index world bank estimate world bank development research group. The gini coefficient was developed by italian statistician corrado gini in 1912 and is the most commonly used measurement of wealth or income inequality.
Colombia has ranked in the top 2 for inequality gini index since 2003. The gini index or gini coefficient is a statistical measure of distribution developed by the italian statistician corrado gini. 11 of the top 16 countries by inequality gini index are latin american and caribbean. Income inequality is defined by gini index between 0 and 1 where 0 corresponds with perfect equality and 1 corresponds with absolute inequality.
A lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients starting with the poorest individual. 8 of the top 15 countries by inequality gini index are catholic. South africa is the top country by gini index in the world. The gini coefficient sometimes called the gini index or gini ratio is a statistical measure of distribution intended to represent the income or wealth distribution of a nation.
Income inequality gini index data source. The gini coefficient here measures the degree of income inequality on a scale from 0. Data are based on primary household survey data obtained from government statistical agencies and world bank country departments. The top 5 countries also includes namibia sri lanka china and zambia.
This statistic shows a ranking of the estimated worldwide gini index in 2020 differentiated by country. The coefficient ranges from 0 to 1 with 0 representing 0 and 1 representing 100. 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. The gini index is used to gauge economic inequality by measuring income distribution or wealth distribution.
The data refer to 2010 2017. Brazil has ranked in the top 3 for inequality gini index since 1996. As of 2018 gini index in south africa was 57 7. A gini index of 0 expresses perfect equality while index of 100 expresses maximal inequality.
A coefficient of 0.