REDUCED INEQUALITIES

Efforts have been made in some countries to reduce income inequality, increase zero-tariff access for exports from LDCs and developing countries, and provide additional assistance to LDCs and small island developing States (SIDS). However, progress will need to accelerate to reduce growing disparities within and among countries.

• Between 2010 and 2016, in 60 out of 94 countries with data, the incomes of the poorest 40 per cent of the population grew faster than those of the entire population.
• In 2016, over 64.4 per cent of products exported by LDCs to world markets and 64.1 per cent of those from SIDS faced zero tariffs, an increase of 20 per cent since 2010. Developing countries overall had duty-free market access for about 50 per cent of all products exported in 2016.
• In 2016, receipts by developing countries from member countries of the Development Assistance Committee of the OECD, multilateral agencies and other key providers totalled $315 billion; of this amount, $158 billion was ODA. In 2016, total ODA to LDCs and SIDS from all donors totalled $43.1 billion and $6.2 billion, respectively.
• Based on provisional data, among the $613 billion in total remittances recorded in 2017, $466 billion went to low- and middle-income countries. While the global average cost of sending money has gradually declined in recent years, it was estimated at 7.2 per cent in 2017, more than double the target transaction cost of 3 per cent.

Source: Report of the Secretary-General, The Sustainable Development Goals Report 2018