Get Gini Coefficient
Pics. The gini coefficient incorporates the detailed shares data into a single statistic, which summarizes the dispersion of income across the entire income distribution. Gini coefficient is widely used in fields as diverse as sociology, economics, health science, ecology, engineering and agriculture.
Although the gini coefficient measures wealth inequality, it doesn't measure or factor in overall wealth. The gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the same income) and 1 corresponds with perfect inequality (where one person has all the income—and everyone else has no income). The shown data are an excerpt of statista's key market.
The index is based on the gini coefficient, a statistical dispersion measurement that ranks income distribution on a scale between 0 and 1.
Developed by italian statistician corrado gini in 1912, the gini coefficient is the most commonly used measure of inequality. The nordic countries and western european countries, such as austria, belgium. The gini index is a summary measure of income inequality. The higher the number, the greater the degree of income inequality.