There are some countries where income inequality is high, which means there is a big difference between the top and bottom earners, while there are nations that have low income inequality.
Let's take a look at some nations that have low income inequality.
Note: The ranking is based on Gini coefficient, which measures the extent to which the distribution of income varies from perfect equality.
Source: Organisation for Economic Co-operation and Development.
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Slovenia
Gini coefficient: 0.24
Overall rank: 1
Slovenia, which has a GDP per capita of $28,600, is a developed country that has a well-educated workforce, world-class infrastructure and high quality of life.
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Denmark
Gini coefficient: 0.25
Overall rank: 2
Denmark, one of the wealthiest economies in the world, has a GDP per capita of $56,790, excellent quality of life and is one of the most open societies in the globe.
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Norway
Gini coefficient: 0.25
Overall rank: 3
Norway, which has one of the biggest oil and gas reserves in the world, has a GDP per capita of $53,269, high quality of life and is constantly rated among the top in Human Development Index.
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The Czech Republic
Gini coefficient: 0.26
Overall rank: 4
The Czech Republic, one of the most developed economies in central and eastern Europe, has a GDP per capita of $26,426, high quality of life and excellent infrastructure.
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Slovakia
Gini coefficient: 0.26
Overall rank: 5
Slovakia, which in recent years has taken several measures to attract foreign investments, has a GDP per capita of $24,300, low inflation and high quality of life.
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Belgium
Gini coefficient: 0.26
Overall rank: 6
Belgium, one of the wealthiest economies in the world, has a GDP per capita of $38,100, excellent infrastructure and is constantly rated high in Human Development Index.
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Sweden
Gini coefficient: 0.26
Overall rank: 7
Sweden, one of the richest economies in the world, is constantly rated high in gender equality, ease of doing business, openness and quality of life.
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Finland
Gini coefficient: 0.26
Overall rank: 8
Finland, one of the most developed economies in the world, has a GDP per capita of $36,700, a booming manufacturing sector and is rated high on Human Development Index.
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Austria
Gini coefficient: 0.26
Overall rank: 9
Austria, one of the richest economies in the world, is constantly rated high on quality of life, gender equality and openness.
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Hungary
Gini coefficient: 0.27
Overall rank: 10
Hungary, which began market liberalisation after the 1990s, has per capita GDP of $22,119, attracts billions of dollars in foreign investments every year and provides high quality of life.
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Luxembourg
Gini coefficient: 0.29
Overall rank: 11
Luxembourg, one of the wealthiest economies in the world, has per capita GDP of $80,700, a thriving banking sector and one of the highest standards of living.
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France
Gini coefficient: 0.29
Overall rank: 12
France, the fifth-largest economy in the world, has per capita GDP of $41,141, thriving manufacturing and banking sectors and is constantly rated high on Human Development Index.
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Ireland
Gini coefficient: 0.29
Overall rank: 13
Ireland, one of the wealthiest economies in the world, has per capita GDP of $41,700, thriving service sector and high standard of living.
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The Netherlands
Gini coefficient: 0.29
Overall rank: 14
The Netherlands, one of the richest economies in the world, has per capita GDP of $42,300, a booming dairy industry and is constantly ranked high in openness.
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Germany
Gini coefficient: 0.30
Overall rank: 15
Germany, one of the biggest economic powerhouses in the world, has per capita GDP of $43,741, a booming export sector and high quality of life.
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Iceland
Gini coefficient: 0.30
Overall rank: 16
Iceland, which was hit badly by the 2008 global economic crisis, has per capita GDP of $38,400, a booming fish industry and tops the Human Development Index.
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Switzerland
Gini coefficient: 0.30
Overall rank: 17
Switzerland, one of the richest economies in the world, has per capita GDP of $54,600, booming banking and dairy industries and high standard of life.
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Greece
Gini coefficient: 0.31
Overall rank: 18
Greece, which was hit badly by the 2008 global economic crisis, has per capita GDP of $24,505, a booming tourism industry and high living standard.
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South Korea
Gini coefficient: 0.31
Overall rank: 19
South Korea, one of the most developed economies in the world, has per capita GDP of $32,020, a booming manufacturing sector and is constantly rated high on Human Development Index.
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Poland
Gini coefficient: 0.31
Overall rank: 20
Poland, which was hit badly by the 2008 global economic crisis, is the sixth-largest economy in the European Union, has a booming service sector and high standard of living.
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Estonia
Gini coefficient: 0.32
Overall rank: 21
Estonia, which was like many other European nations hit badly by the 2008 global economic crisis, has per capita GDP of $21.200, high living standard and low inflation rate.
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Spain
Gini coefficient: 0.32
Overall rank: 22
Spain, which saw its real estate market plunge after the 2008 global economic crisis, has per capita GDP of $29,156, excellent infrastructure and high standard of living.
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Canada
Gini coefficient: 0.32
Overall rank: 23
Canada, whose economy is dominated by the services sector, is one of the richest countries in the world.
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Japan
Gini coefficient: 0.33
Overall rank: 24
Japan, one of the biggest economies in the world, is a major global manufacturing powerhouse.
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New Zealand
Gini coefficient: 0.33
Overall rank: 25
New Zealand, one of the biggest producers of dairy products, has per capita GDP of $30,804, high living standard and market openness.
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