What is the Gini coefficient for South Africa?
63
Gini Coefficient by Country 2022
| Country | Gini % – World Bank | Gini % – CIA World Factbook |
|---|---|---|
| South Africa | 63 | 63 |
| Namibia | 59.1 | 59.1 |
| Suriname | 57.9 | |
| Zambia | 57.1 | 57.1 |
Does South Africa have a high Gini coefficient?
South Africa is acknowledged as having the highest Gini coefficient in the world. The Gini coefficient is a measure of income inequality in a country.
What does it mean when we say that the Gini coefficient of South Africa is the largest in the world?
Thus, if everyone in a group (or for that matter in a country) has the same income, the coefficient will be 0. If all the income goes to one person and none to the rest, the co-efficient will be 1.
What was South Africa’s Gini coefficient in 2005?
0.59
While the Coloured population experienced the largest relative increase in inequality, with their Gini coefficient increasing from 0.49 in 1995 to 0.59 in 2005, the African population displayed the highest level of inequality in both years.
How do you calculate Gini coefficient?
The Gini coefficient can be calculated using the formula: Gini Coefficient = A / (A + B), where A is the area above the Lorenz Curve and B is the area below the Lorenz Curve.
What does a Gini coefficient of 0 63 in South Africa indicate?
perfect equality
Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.
What was the level of inequality in 2011?
Looking at taxable income in the NIDS data, the overall Gini coefficient in 2011 was relatively high at 0.823. Below the R120,000 filing threshold, inequality is measured at 0.762. As the top end of the distribution is truncated, the level of inequality decreases.
How do you calculate Gini index in data mining?
Summary: The Gini Index is calculated by subtracting the sum of the squared probabilities of each class from one. It favors larger partitions. Information Gain multiplies the probability of the class times the log (base=2) of that class probability.
What is the Gini coefficient of South Africa?
South Africa is known as one of the most unequal countries in the world, reporting a per-capita expenditure Gini coefficient of 0,67 in 2006, dropping to 0,65 in 2015. This is according to the Inequality Trends in South Africa report released by Stats SA.
Which country has the highest Gini coefficient in the world?
South Africa is acknowledged as having the highest Gini coefficient in the world. The Gini coefficient is a measure of income inequality in a country. The eradication of all forms of inequality was probably the most important aspiration for people pre-democracy.
What information does the Gini index give?
The Gini index gives information on the distribution of income in a country. In an ideal situation in which incomes are perfectly distributed, the coefficient is equal to zero, whereas one represents the highest inequality situation.
How unequal is South Africa?
HOW UNEQUAL IS SOUTH AFRICA? South Africa is known as one of the most unequal countries in the world, reporting a per-capita expenditure Gini coefficient of 0,67 in 2006, dropping to 0,65 in 2015. This is according to the Inequality Trends in South Africa report released by Stats SA.