Statistics Iceland has published statistics on risk of poverty and income distribution in 2003-2004. These are based on the survey of income and living conditions carried out within the framework of EU-SILC.
In 2003 and 2004, 10% of the population living in private households was at risk of poverty according to the EU-SILC definition. The at-risk-of-poverty threshold, set at 60% of median equivalised income, was 102,664 ISK for persons living alone in 2004 and 215,594 ISK for two adults with two children.
In 2004, 15.4% of persons aged 16–24 years old were at risk of poverty and 5.9% of persons aged 50–64 years old.
A higher percentage of persons who live alone are at risk of poverty than of persons living with others. The same applies to persons living in rented accommodations compared to persons living in their own homes.
In 2004, the income quintile share ratio shows that persons in the top income quintile had 3.5 times the equivalised income of those in the bottom income quintile. Another measure of income distribution, the Gini-coefficient was 0.25 in 2004.
Of 31 European nations, one nation had a lower at risk-of-poverty rate than Iceland, two had the same rate and 27 countries had a higher at rate. Two nations had lower income quintile share ratio than Iceland and 28 nations had a higher ratio. Three European nations had a lower Gini-coefficient and 27 had a higher Gini-coefficient.
Risk of poverty and income distribution 2003-2004 - Statistical Series