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IP01010 Gini and Hoover indexes and income quantile ratios by age, sex, type of household and region (2009-2021)

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Høgni P. Vilhelm
9/12/2023
number
A
6/4/2024
6/12/2015
Yes
Statistics Faroe Islands
IP01010_INNT_GINFIM
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region

S-Streymoy includes Hestur, Koltur and Nólsoy
Vágar includes Mykines
Sandoy includes Skúgvoy and St. Dímun

measure

Gini index

A measure of inequality of income. A zero shows perfect equality while 100% show maximum inequality (one household has all the income).

Hoover index

Also known as Robin Hood index. The proportion of all income which would have to be redistributed to achieve a state of perfect equality

Income quintile ratio 80/20

Ratio of the average income of the richest 20% of the population to the average income of the poorest 20% of the population

Income quantile ratio 90/10

Ratio of the average income of the richest 10% of the population to the average income of the poorest 10% of the population

Income quantile ratio 99/1

Ratio of the average income of the richest 1% of the population to the average income of the poorest 1% of the population