ESWATINI’S WIDEST GAP BETWEEN RICH, POOR

MBABANE – Eswatini has been listed in the top five countries with the widest gap between the rich and poor.

The actual ranking for Eswatini, according to the report published late on Monday, is fourth. The rest of the countries in the top five are Namibia, Zambia, Sao Tome and Principe and Brazil, in that order. To determine the countries with the widest gaps between rich and poor, 24/7 Wall St. reviewed data on the Gini coefficient for 218 countries from the World Bank. Countries were ranked on the Gini coefficient, a measure of income inequality based on the distribution of income across a population, using the most recent year of data from 2015 to 2019. 24/7 Wall St, LLC, according to its online profile, is a Delaware corporation which runs a financial news and opinion company with content delivered over the internet.

republished

The company’s articles are republished by many of the largest news sites and portals, including MSN MarketWatch, USA Today, AOL, and newspaper and broadcast sites across America. Supplemental data on population in 2019; GDP per capita in the same year, estimated using the purchasing power parity method; and percentage of the population living on less than US$1.90 (about E26) a day in 2011 international prices, using the latest year of data from 2015 to 2019, came from the World Bank. Data about Eswatini suggests that the country is ranked third out of 115 in terms of poverty rate. When it comes to GDP per capita, Eswatini is said to be in position 122 out of 186.  GDP per capita is simply a country’s economic output divided by its population. It is a good representation of a country’s standard of living. It also describes how much citizens benefit from their country’s economy.

parity

Purchasing power parity compares different countries’ economic output. The Gini coefficient used in the report measures income inequality on a zero to one scale. A nation full of residents with the same income would score zero. The Gini coefficient of most of the 115 countries for which there is data is lower than 0.4. Just 10 have a Gini index score of over 0.5, while 20 countries scored under 0.3. For context, the US Gini coefficient is 0.414. Nearly all of the countries with the widest income gaps are located either in South America or here in Africa. 

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