25 countries that have least income inequality

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.