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The gini coefficient measures the inequality among the values of a frequency distribution, such as income levels The gini coefficient incorporates the detailed shares data into a single statistic, which summarizes the dispersion of income across the entire income distribution. A gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same.
The gini coefficient, also called the gini index or gini ratio, is the most commonly used measure of income distribution—simply put, the higher the gini coefficient, the greater the gap between the incomes of a country’s richest and poorest people. The gini index is a summary measure of income inequality The gini coefficient, or gini index, is the most commonly used measure of inequality
Data are based on primary household survey data obtained from government statistical agencies and world bank country departments
The gini index, developed by corrado gini in 1912, measures income inequality on a scale from 0 (perfect equality) to 1 (perfect inequality), with south africa having the highest recorded gini. The gini coefficient, or gini index, is derived from the lorenz curve, and like the lorenz curve, it measures the degree of economic equality across a given population and simplifies this reality into a single number.
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