Money
The Smallest Gender Wage Gaps in OECD Countries
See this visualization first on the Voronoi app.
The Smallest Gender Pay Gaps in OECD Countries
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Among the 38 member countries in the Organization for Economic Cooperation and Development (OECD), several have made significant strides in addressing income inequality between men and women.
In this graphic we’ve ranked the OECD countries with the 10 smallest gender pay gaps, using the latest data from the OECD for 2022.
The gender pay gap is calculated as the difference between median full-time earnings for men and women divided by the median full-time earnings of men.
Which Countries Have the Smallest Gender Pay Gaps?
Luxembourg’s gender pay gap is the lowest among OECD members at only 0.4%—well below the OECD average of 11.6%.
| Rank | Country | Percentage Difference in Men's & Women's Full-time Earnings |
|---|---|---|
| 1 | 🇱🇺 Luxembourg | 0.4% |
| 2 | 🇧🇪 Belgium | 1.1% |
| 3 | 🇨🇷 Costa Rica | 1.4% |
| 4 | 🇨🇴 Colombia | 1.9% |
| 5 | 🇮🇪 Ireland | 2.0% |
| 6 | 🇭🇷 Croatia | 3.2% |
| 7 | 🇮🇹 Italy | 3.3% |
| 8 | 🇳🇴 Norway | 4.5% |
| 9 | 🇩🇰 Denmark | 5.8% |
| 10 | 🇵🇹 Portugal | 6.1% |
| OECD Average | 11.6% |
Notably, eight of the top 10 countries with the smallest gender pay gaps are located in Europe, as labor equality laws designed to target gender differences have begun to pay off.
The two other countries that made the list were Costa Rica (1.4%) and Colombia (1.9%), which came in third and fourth place, respectively.
How Did Luxembourg (Nearly) Eliminate its Gender Wage Gap?
Luxembourg’s virtually-non-existent gender wage gap in 2020 can be traced back to its diligent efforts to prioritize equal pay. Since 2016, firms that have not complied with the Labor Code’s equal pay laws have been subjected to penalizing fines ranging from €251 to €25,000.
Higher female education rates also contribute to the diminishing pay gap, with Luxembourg tied for first in the educational attainment rankings of the World Economic Forum’s Global Gender Gap Index Report for 2023.
See More Graphics about Demographics and Money
While these 10 countries are well below the OECD’s average gender pay gap of 11.6%, many OECD member countries including the U.S. are significantly above the average. To see the full list of the top 10 OECD countries with the largest gender pay gaps, check out this visualization.
Markets
Top 10 Countries Most in Debt to the IMF
Argentina tops the ranking, with a debt equivalent to 5.3% of the country’s GDP.
Top 10 Countries Most in Debt to the IMF
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Established in 1944, the International Monetary Fund (IMF) supports countries’ economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities.
Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate balance of payments difficulties.
In this graphic, we visualize the 10 countries most indebted to the fund.
Methodology
We compiled this ranking using the International Monetary Fund’s data on Total IMF Credit Outstanding. We selected the latest debt data for each country, accurate as of April 29, 2024.
Argentina Tops the Rank
Argentina’s debt to the IMF is equivalent to 5.3% of the country’s GDP. In total, the country owns more than $32 billion.
| Country | IMF Credit Outstanding ($B) | GDP ($B, 2024) | IMF Debt as % of GDP |
|---|---|---|---|
| 🇦🇷 Argentina | 32 | 604.3 | 5.3 |
| 🇪🇬 Egypt | 11 | 347.6 | 3.1 |
| 🇺🇦 Ukraine | 9 | 188.9 | 4.7 |
| 🇵🇰 Pakistan | 7 | 374.7 | 1.8 |
| 🇪🇨 Ecuador | 6 | 121.6 | 4.9 |
| 🇨🇴 Colombia | 3 | 386.1 | 0.8 |
| 🇦🇴 Angola | 3 | 92.1 | 3.2 |
| 🇰🇪 Kenya | 3 | 104.0 | 2.8 |
| 🇬🇭 Ghana | 2 | 75.2 | 2.6 |
| 🇨🇮 Ivory Coast | 2 | 86.9 | 2.3 |
A G20 member and major grain exporter, the country’s history of debt trouble dates back to the late 1890s when it defaulted after contracting debts to modernize the capital, Buenos Aires. It has already been bailed out over 20 times in the last six decades by the IMF.
Five of the 10 most indebted countries are in Africa, while three are in South America.
The only European country on our list, Ukraine has relied on international support amidst the conflict with Russia. It is estimated that Russia’s full-scale invasion of the country caused the loss of a third of the country’s economy. The country owes $9 billion to the IMF.
In total, almost 100 countries owe money to the IMF, and the grand total of all of these debts is $111 billion. The above countries (top 10) account for about 69% of these debts.
-
Personal Finance1 week agoVisualizing the Tax Burden of Every U.S. State
-
Misc6 days agoVisualized: Aircraft Carriers by Country
-
Culture6 days agoHow Popular Snack Brand Logos Have Changed
-
Mining1 week agoVisualizing Copper Production by Country in 2023
-
Misc1 week agoCharted: How Americans Feel About Federal Government Agencies
-
Healthcare1 week agoWhich Countries Have the Highest Infant Mortality Rates?
-
Demographics1 week agoMapped: U.S. Immigrants by Region
-
Maps1 week agoMapped: Southeast Asia’s GDP Per Capita, by Country