This article will bring you to the list of the most unequal countries with the worst income equality in the world. Insider Monkey has recently published an interesting article about it. The most famous measure of income inequality is Gini coefficient or Gini ratio. It is a statistical measure of wealth distribution among nation’s residents. The higher the value of Gini index, the higher income inequality. The data on Gini coefficient by country in 2014, provided by the Organization for Economic Cooperation and Development (OECD) show that Costa Rica had the highest income inequality. In 2015 however, South Africa came first as the most unequal country. Gini coefficient ranking of 2016 suggests that Bolivia and China were some of the most unequal countries in the world in 2016. There are no data on Gini coefficient ranking of 2017. I guess all of us will have to be patient until experts do their job, so we can find out which is the country that had the highest Gini coefficient in 2017.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked four of the most unequal countries with the worst income equality in the world from their list.
The first one is Sri Lanka. Numbers show that the government of Sri Lanka has made significant progress in eradicating poverty. Urban poverty has been reduced to 5.3 %, while rural poverty has been reduced to 9.5 %. The remaining issue is an unequal distribution of income. Sri Lanka’s Gini coefficient is 49.0. The second country is Zimbabwe. Zimbabwe has been the focus of the media worldwide because of the political upheavals in the country. Whoever gets to lead the country in the following years should draw the attention to decision making bodies to a rather high Gini coefficient, which is 50.1. The next country should be The Gambia. Data from 2014 suggests that more than 60 % of the population of the Gambia lives in poverty, making it one of the poorest countries in the world. Its high poverty rate also reflects in a high Gini coefficient which is calculated to be 50.2. At last, but not least let’s check Rwanda’s numbers! 1994 genocide has shattered Rwanda’s economy into pieces. Nevertheless, the country has since managed to move forward. The unequal distribution of income remains an issue as its Gini coefficient is estimated to be 50.4. One problem at a time, Rwanda.
For any further useful information, read Insider Monkey’s article about 25 most unequal countries with the worst income equality in the world.