February 17, 2022 Author: Luca Ventura Inequality kills. Structural challenges and weak growth have undermined progress in reducing poverty, heightened by the COVID-19 pandemic. Aligned with the South African governments National Development Plans for continued reforms to sustain economic recovery and reconstruction (for a more inclusive and resilient economy), the CPF charts a clear path for collaboration in the following focus areas: (i)increased competition and an improved business environment; strengthened micro, small, and medium enterprises and the supporting ecosystem to boost job creation; (ii) increased resilience to external (climate and health) shocks; and improvements in the infrastructure investment framework and selected infrastructure services. Profit from the additional features of your individual account. Global inequality has fallen in the past three decades. Considerations to be given priority include updating its policy on national broadband in line with international best practice, fast-tracking spectrum licensing, and ensuring the independence and capacity of the Independent Communications Authority of South Africa. South Africa Overview: Development news, research, data | World Bank 16 Jul 2023 16:27:23 In a departure from previous strategies, the government has signaled its intent to make greater use of International Bank of Reconstruction and Development (IBRD) financing under the CPF. The Gini coefficient ranges from 0 to 1. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Particularly of interest is India, which is on track to overtake China's position as the most populous country by the year 2030. A higher number indicates greater inequality, with 1 being maximum inequality and 0 being perfect equality. United Nations University, Helsinki. Project activities have included measures to increase the supply and distribution of water, and to improve security through more staffing, equipment, facilities, training, fence upgrades, and improved aerial support and communications, as well as national and regional coordination. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Search is too long (150 characters maximum), Gender, Institutions and Development Database, Gender, Institutions and Development Database (GID-DB) 2023, Social Institutions and Gender Index 2023, Social Institutions and Gender Index 2019, Gender, Institutions and Development Database (GID-DB) 2019, Gender, Institutions and Development Database 2014 (GID-DB), Gender, Institutions and Development Database 2012 (GID-DB), Gender, Institutions and Development Database 2009 (GID-DB), Social Protection and Well-being Archives, Data extracted on 16 Jul 2023 19:13 UTC (GMT) from, Current Well-being (average and deprivation), Current Well-being (horizontal inequality)-by sex, Current Well-being (horizontal inequality)-by age, Current Well-being (horizontal inequality)-by education, Public and Private Social Expenditure by country, Public expenditure on disability and sickness cash benefits, in % GDP, Public expenditure on family by type of expenditure (cash and in kind), in % GDP, Public expenditure on old-age and survivors cash benefits, in % GDP, Historical Gross Replacement Rates of unemployment benefits, PTR for families claiming Guaranteed Minimum Income (GMI) benefits, PTR for families claiming Unemployment Benefits, PTRs for parents claiming Guaranteed Minimum Income (GMI) benefits and using childcare services, PTR for families claiming Unemployment Benefits and using childcare services, Adequacy of Guaranteed Minimum Income benefits, Net childcare cost for parents using childcare facilities, Access to productive and financial assets, Gender Institutions and Development Database (GID-DB) 2019, Restricted Access to Productive and Financial Resources, Social Institutions and Gender Index 2014 (SIGI), Social Institutions and Gender Index (SIGI), Gender, Institutions and Development Database (GID-DB), Indicators of gender equality in entrepreneurship, Share of self-employed in the population of employed with tertiary education, by sex, Share of self-employed in the population of employed with foreign-citizenship, by sex, Share of the population with account in a financial institution, by sex, Positive business status and outlook, by sex, Attitude towards entrepreneurial risk, by sex, Access to training and money to start a business, by sex, Share of sole-proprietor enterprises owned by women, Share of self-employed in manufacturing or construction, by sex, Share of self-employed in services, by sex, Share of self-employed in the population of 20-29 year old employed, by sex, Share of self-employed who are between 20 and 29 years old, by sex, Share of self-employed who are employers, by sex, Share of self-employed who are own-account workers, by sex, Share of the population who report borrowing money to start a business, by sex, Indicators of gender equality in employment, Labour force participation rate, by sex and age group, Employment/population ratio, by sex and age group, Employment and unemployment rate, by sex and age group, quarterly data, Share of employed in part-time employment, by sex and age group, Share of employed in involuntary part-time employment, by sex and age group, Full-time equivalent employment rate, by sex, Share of employed in temporary employment, by sex and age group, Distribution of employment by aggregate sectors, by sex, Time spent in paid and unpaid work, by sex, Expected number of years in retirement, by sex, Female share of seats on boards of the largest publicly listed companies, Length of maternity, parental and home care leave, and paid father-specific leave, Enrolment rates in pre-primary education or primary school, children aged 3 to 5 year old, By country - Public policies for families and children, By country - The labour market position of families, By indicator - Public policies for families and children, By indicator - The labour market position of families, Monthly Monetary and Financial Statistics (MEI), Bilateral Trade by Industry and End-use (ISIC4). If you continue to use this site we will assume that you are happy with it. A score of 0.4, which by most estimates China has surpassed years ago, is indicative of a highly unequal society. However, there are exceptions to this rule: in some developed countries, such as the United States and Russia, the Gini coefficient is generally high. If reliable and up-to-date GDP and income data are lacking, the Gini coefficient may be inaccurate and overstate income inequality. South Africas income inequality has become worse over the years. For many countries in Africa, income inequality is rooted in their economic structures, in which a few high-income sectors generate significant wealth, but only for a small number of people, leaving the vast majority of the workforce trapped in lower-income sectors in which they earn far less in the lower-income sectors. There are a number of reasons why high income countries have such high levels of GNI and human development. Additionally, high income countries often have better access to technology and infrastructure, which further boosts economic growth. Please create an employee account to be able to mark statistics as favorites. With a gross domestic product per capita of $65,000, the United States ranks as the richest large country in the world. In December, the World Inequality Laba research center based at the Paris School of Economicsreleased the 2022 World Inequality Report (WIR), which presents analyses of income distribution and wealth inequality generated by more than 100 researchers from all continents over the course of the past four years. To learn more about cookies, click here. The World Bank is supporting the implementation of a new wildlife initiative, a $8.9 million grant from the Global Environment Facility (GEF), to step up investment in South Africas wildlife and biodiversity sectors in the Kruger National Park, Addo Elephant National Park, and iSimangaliso Wetland Park. Research suggests that globalization has reduced global wealth inequality between nations but has increased wealth inequality within nations. The closer the score is to 0, the more equal a society, and vice versa. The operation is the first budget support South Africa has received from the World Bank during the countrys post-apartheid, democratic era. The Gini index (or Gini coefficient)is a tool used to measure wealth inequality within a group or society. Enter your email below, and you'll receive this table's data in your inbox momentarily. Inequality is a complex concept and is difficult . To learn more about cookies, All rights reserved. Inequality in wealth is even higher, and intergenerational mobility is low, meaning inequalities are passed down from generation to generation with little change over time. Please try again or select another dataset. The South Africa CCDR was prepared in late 2022 and shows that South Africas ambition to build a more inclusive, resilient, and sustainable economy depends on the extent that the country will be able to shift from its current heavy dependence on coal to low-carbon activities (decarbonize) and to address the growing risks from climate change (adapt and build resilience). Wealth inequality is closely related to income inequality, which tracks the money people earn. The Gini coefficient, also called the Gini Index or Gini ratio, is a statistical measure of distribution intended to represent the income or wealth distribution of a nation. National income is the sum of all incomes received by individuals residents in a given country over a year. The biggest . South Africa remains a dual economy with one of the highest and most persistent inequality rates in the world, with a consumption expenditure Gini coefficient of 0.67 in 2018. In this context, the COVID-19 Social Relief of Distress Grant, introduced in May 2020, was extended for another year until March 2024. The top 10% of the population of the Middle East and Northern Africa, which have the greatest wealth inequality on the globe, captureroughly 58% of the total national income; in Sub-Saharan Africa, that share amounts to 56%and in Latin America and South and South East Asia to 55%. Mining production fell while manufacturing production stagnated, as load-shedding and transport bottlenecks intensified. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Data for high-income economies are mostly from the Luxembourg Income Study database. India: wealth Gini coefficient 2021 | Statista (July 2022) World map of income inequality Gini coefficients by country. However, in most countriesespecially advanced economieswithin-country inequality has increased. Find out how good a country could be if it upgraded it's GDP data. How Inequality Is Undermining China's Prosperity - CSIS The Gini Index is a summary measure of income inequality. Gini Coefficient by Country 2023 - World Population Review Available: https://www.statista.com/statistics/1248515/india-wealth-gini-coefficient/, Wealth Gini coefficient of India from 2000 to 2021, Immediate access to statistics, forecasts & reports, Sources of wealth for ultra wealthy individuals worldwide 2020, Number of billionaires worldwide by wealth source 2021, Primary industries for the world's ultra wealthy 2019, Ultra high net worth individuals: population of global 1 percent 2021, by country, Cities with the highest number of UHNW individuals worldwide 2020, Number of ultra high net worth individuals 2021, by region, HNWI population worldwide 2010-2021, by region, Ultra high net worth individuals 2021, by country, Number of people with wealth over one million U.S dollars 2021, by country. Inflation averaged 6.9% in 2022 but was 8.2% for those at the bottom 20% of the income distribution. Incomes takes various forms and we typically distinguish two broad sources: incomes stemming from individuals labor (e.g. In 2021, China reached a score of 46.6 (0.466) points. These trends have prompted growing social demands for government support, which could put the sustainability of public finances at risk if they are to be met. European Countries #GINI Coefficient [#Income, #Wealth, # - YouTube If you are an admin, please authenticate by logging in again. High inequality is perpetuated by a legacy of exclusion and the nature of economic growth, which is not pro-poor and does not generate sufficient jobs. On the other hand, extremely income inequality that is extremely low can sometimes indicate a lack of economic growth. The values remained since 2020, however, it was a significant increase compared to 74.7 in 2000. All rights reserved. WID.world, Paris. Income Distribution Database : by country - INEQUALITY - OECD Statistics
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