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06:35, 24 April 2017 Monday
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Income inequality in Europe remains high: Eurostat
Income inequality in Europe remains high: Eurostat

Eurostat data shows no improvement in inequality in income distribution in EU in 2015

World Bulletin / News Desk

Inequality in income distribution in the European Union saw no improvement in 2015 from the previous year, the bloc’s statistical authority said Wednesday.

The income quintile share ratio -- calculated as the ratio between the total income received by the 20 percent of the population with the highest income and that received by the 20 percent of the population with the lowest income -- was 5.2 points in 2015, the same as in 2014, according to a Eurostat report.

The reading had risen to 5 points in 2011 from 4.9 in 2010, and remained there before edging to 5.2 points in 2014.

Apart from the relatively high income distribution inequality in the EU, the rate also substantially varies between member states -- ranging from as low as 3.5 in Slovakia to as high as 9 in Serbia.

Slovakia and the Czech Republic ranked as the most successful EU countries in terms of income equality with a rate of 3.5 points. Finland followed with 3.6 points.

Meanwhile, Serbia scored the worst with a reading of 9 points. Romania and Lithuania followed with rates of 8.3 points and 7.5 points, respectively.

Luxembourg, Ireland and France were the best performing economies between 2013 and 2015, seeing improvements of 0.3 points, 0.2 points and 0.2 points, respectively.



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