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Upper-middle-income economies — 2021 GNI per capita of $4,256 to $13,205. High-income economies — 2021 GNI per capita of $13,206 or more. More than half of the world's countries are middle-income countries, which display a diverse range of regions, sizes, populations, and cultures.
Middle income countries are a diverse group by size, population and income level, and are home to 5 of the world’s 7 billion people and 73% of the world’s poor people. MICs also represent about one-third of global GDP and are major engines of global growth.
The world’s Middle Income Countries (MICs), which are defined as having a per capita gross national income of $1,086 to $13,205 (2022) are a diverse group by size, population, and income level.
- What Is A Middle-Income country?
- Understanding Middle-Income Countries
- Mic Characteristics
- The Significance of Mics
- Graduating from Lower- to Upper-Middle Income
- The Bottom Line
According to the World Bank, middle-income countries (MICs) are defined as economies with a gross national income (GNI) per capita between $1,136 and $13,845 as of 2024. MICsconsist of lower-middle-income countries and upper-middle-income countries, both of which are part of the income categories that the World Bank uses to classify economies for o...
The World Bankhas historically classified every economy as low-, middle-, or high-income. It now further specifies countries as having low-, lower-middle-, upper-middle-, or high-income economies. The World Bank uses GNI per capita, in current U.S. dollars converted by the Atlas method of a three-year moving average of exchange rates, as the basis ...
MICs are broken up into lower-middle-income and upper-middle-income economies. Lower-middle-income economies have per capita GNIs between $1,136 and $4,465, while upper-middle economies have per capita GNIs between $4,466 and $13,845. MICs are a very diverse group by region, size, population, and income level, ranging from tiny nations with small p...
MICs are essential for continued global economic growthand stability. According to the World Bank, sustainable growth and development in MICs have positive spillovers to the rest of the world. Examples are poverty reduction, international financial stability, and global cross-border issues, including climate change, sustainable energy development, ...
Countries graduate from one level to another depending on their GNI per capita. According to a June 2023 report by the World Bank, India continued to be a lower-middle-income country and is expected to continue to be so in 2024. Countries that will move from low-income to lower-middle-income country categories are Guinea and Zambia. Countries movin...
The World Bank classifies countries based on gross national income (GNI) per capita to better analyze these nations. Middle-income countries are those with a GNI per capita between $1,136 and $13,845. Middle-income countries can be further categorized as lower-middle income and upper-middle income.
Jul 1, 2022 · Eric Metreau. Shwetha Grace Eapen. July 01, 2022. This page in: English. Updated country income classifications are available here. The World Bank assigns the world’s economies [1] to four income groups—low, lower-middle, upper-middle, and high income.
Jun 30, 2023 · Eric Metreau. June 30, 2023. This page in: English. Français. Español. العربية. 中文. 日本語. The World Bank Group assigns the world’s economies [1] to four income groups – low, lower-middle, upper-middle, and high. The classifications are updated each year on July 1, based on the GNI per capita of the previous calendar year.
Using the World Bank’s income classification, the world currently comprises of 26 low-income, 108 middle-income, and 83 high-income economies. With about 75 percent of the world’s population, middle-income countries now account for about 40 percent of global economic activity, 50 percent of the world’s extremely poor people, and 60 ...
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