A high-income economy is defined by the World Bank as a nation with a gross national income per capita of US$13,589 or more in 2022, calculated using the Atlas method. Although the Vatican City is a sovereign state, it is not classified by the World Bank under this definition.
Apr 21, 2018 · The World Bank classifies economies for analytical purposes into four income groups: low, lower-middle, upper-middle, and high income. For this purpose it uses gross national income (GNI) per capita data in U.S. dollars, converted from local currency using the World Bank Atlas method, which is applied to smooth exchange rate fluctuations.
Jul 1, 2021 · The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. The classifications are updated each year on July 1 and are based on GNI per capita in current USD (using the Atlas method exchange rates) of the previous year (i.e. 2020 in this case).
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