Iceland: Gini inequality index

The latest value from 2017 is 26.1 index points, a decline from 27.2 index points in 2016. In comparison, the world average is 35.51 index points, based on data from 77 countries. Historically, the average for Iceland from 2003 to 2017 is 27.81 index points. The minimum value, 25.4 index points, was reached in 2013 while the maximum of 31.8 index points was recorded in 2008. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Gini index measures the extent to which the distribution of income (or, in some cases, 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.