What is the world Gini index?

GINI index (World Bank estimate) – Country Ranking

What is a good Gini index?

It is influenced by the distribution of income between people. Gini index < 0.2 represents perfect income equality, 0.2–0.3 relative equality, 0.3–0.4 adequate equality, 0.4–0.5 big income gap, and above 0.5 represents severe income gap. The Gini coefficient is a measure of inequality of a distribution.

Is a high Gini index good?

A higher Gini index indicates greater inequality, with high-income individuals receiving much larger percentages of the total income of the population. Global inequality as measured by the Gini index increased over the 19th and 20th centuries, but has declined in more recent years.

Which country has the best Gini index?

The countries with the highest Gini coefficients are:

• South Africa – 63.0.
• Namibia – 59.1.
• Zambia – 57.1.
• Sao Tome and Principe – 56.3.
• Eswatini – 54.6.
• Mozambique – 54.0.
• Brazil – 53.9.
• Hong Kong – 53.9.

Which country has the lowest Gini?

Slovenia
The Gini coefficient was proposed by Gini as a measure of inequality of income or wealth. For OECD countries, in the late 20th century, considering the effect of taxes and transfer payments, the income Gini coefficient ranged between 0.24 and 0.49, with Slovenia being the lowest and Mexico the highest.

Which country has the smallest gap between rich and poor?

Percentage share of income (poorest and richest 20% of population)

What does a Gini index of 50 mean?

A Gini coefficient of 50 represents 50 percent concentration in a country’s income distribution. What does it mean to have 50 percent concentration in a country’s income? A Gini of 50 could mean that half the people share all of the income while the other half get nothing.

Which country has the smallest income gap?

On the opposite end, the following countries have the least income inequality: Azerbaijan – 22.5….The Gini Coefficient

• Zambia – 58.1.
• Mozambique – 53.9.
• Botswana – 53.4.
• Brazil – 53.1.
• Angola – 51.3.
• Colombia – 51.
• Zimbabwe – 50.3.
• Panama – 49.7.

What country has the lowest Gini?

Which country has the best income equality?

Norway. The country with the most egalitarian economy in the world is Norway.

Which country has the lowest wealth gap?

Which country has lowest Gini coefficient?

Where does World Bank get Gini index data?

GINI index (World Bank estimate) World Bank, Development Research Group. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments.

Who is the creator of the Gini coefficient?

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. The Gini coefficient was developed by Italian statistician Corrado Gini in 1912 and is the most commonly used measurement of wealth or income inequality.

Which is higher the Gini index or the Inequality Index?

The more unequal a country’s income distribution, the higher its Gini index, e.g., a Sub-Saharan country with an index of 50. If income were distributed with perfect equality the index would be zero; if income were distributed with perfect inequality, the index would be 100.

What was the Gini index in 2017 in Canada?

GINI index 2017 2018 Australia 31.80 33.20 Austria 28.80 27.80 Belgium 24.40 25.90 Canada 31.40 31.20