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A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$13,845 or more in 2022, calculated using the Atlas method. [1] While the term "high-income" is often used interchangeably with "First World" and " developed country ," the technical definitions of these terms differ.
Jun 30, 2023 · In 1987, 30% of reporting countries were classified as low income, while in 2022 only 12% fell into this category. The extent of this decline is different between world regions, with the Sub-Saharan African region’s proportion of low-income countries falling from 74% to 46% in 2022, East Asia Pacific from 26% to 3%, and South Asia from 100% ...
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The world by income. 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 ...
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. [5] The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA ...
- July 7, 1944 (79 years ago)
- World Bank Group
- 189 countries (IBRD), 174 countries (IDA)
Jul 1, 2022 · The economy of Belize was severely affected by the COVID-19 pandemic in 2020 and moved to the lower-middle-income group. In 2021, economic growth rebounded, led by tourist-related activities and investments, bringing Belize back to its prior classification as an upper-middle-income country. The economies of Panama and Romania were each also ...
Jul 1, 2020 · 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).
High income from The World Bank: Data. Graph, map and compare more than 1,000 time series indicators from the World Development Indicators.
