New Classification Of Countries By Income Level – Free PDF Download

• The World Bank classifies economies based on gross national income per capita in US dollars, calculated using what is called the Atlas method.

What Is Gross National Income?

• GNI is the total amount of money earned by a nation’s people and businesses.
• The number includes the nation’s gross domestic product plus the income it receives from overseas
• 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

How many countries are considered?

• In the World Development Indicators database, all 189 World Bank member countries,
• Plus 28 other economies with populations of more than 30,000, are classified.

Has the COVID impact taken into account?

• It is important to emphasize that the World Bank’s income classifications use the GNI of the previous year (2019 in this case).
• Thus, the GNI numbers that are used for this year’s classification do not yet reflect the impact of COVID-19.

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