Iran’s Gini Index Surges

Iran’s Gini Index stood at 0.4006 in the last fiscal year (March 2020-21) compared with the previous year’s 0.3992, the Persian-language daily Shargh reported, citing the Statistical Center of Iran.  
The Gini index, or Gini coefficient, was devised by an Italian statistician named Corrado Gini in 1912. By far, it has been the most popular measure of socioeconomic inequality, especially in terms of income and wealth distribution.
The Gini index ranks income inequality on a scale of zero — no inequality — to one, the maximum level of inequality. In other words, the closer the number is to one, the more wealth is concentrated in the hands of fewer people and the bigger the income disparity. Because of the way the scale is constructed, a modest-sounding difference in the Gini ratio implies a big difference in inequality.