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Income Inequality - GINI index

(Index)

Colombia is the top country by GINI index in the world. As of 2014, GINI index in Colombia was 53.5 index. The top 5 countries also includes Paraguay, Brazil, Panama, and Honduras.

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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. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.