New publication on classification of economies in the world

On 1 July each year, the World Bank revises its classification of the world's economies based on the previous year's estimates of gross national income (GNI) per capita. The estimated GNI per capita is also used as an input to classify the banking activities of the economies, determining the lending conditions of the countries. As announced on July 1, 2012, the World Bank classified income according to GNI per capita according to four specific levels as follows:

• Low income: $1,025 or less
• Low median income: from $1,026 to $4,035
• High median income: from $4,036 to $12,475
• High income: $12,476 or more
Low- and middle-income economies are sometimes called developing economies. The term is used for convenience, and does not mean that all economies in the group are experiencing similar development or that other economies have reached a preferred or late stage of growth. develop.

Changes in classification

REMOVEThe income classification includes all members of the World Bank, plus all other economies with populations of more than 30,000. This year's classification includes 188 member countries of the World Bank and 26 economies. Gibraltar and Mayotte were removed from the World Development Indexes database because Gibraltar's population fell below 30,000, and Mayotte became an overseas French administrative district on 31st. March, 2011. South Sudan declared independence on 9/7/2011 and became a member of the World Bank on 18/4/2012, but is not officially classified by income in fiscal year 2012 (FY12). .

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Old group

Group meh?i

Albania High average income Low average income
Angola Low average income High average income
Mauritania Low average income Low income
South Sudan .. Low average
St. Kitts and Nevis High average income High income
Turkmenistan Low average income High average income
Tuvalu Low average income High average income

Loan classification: Economic Development Association (IDA) loans to countries with per capita income in 2011 below US$1,195 and unable to borrow from the International Bank for Reconstruction and Development (IBRD). IDA lends preferential loans at no cost and grants grants to programs that promote economic growth and improve living conditions. Non-concessional IBRD loans. Mixed countries are countries that are eligible for IDA loans because of their low per capita income, but are also eligible for IBRD loans because of their ability to pay their debts in terms of debt service. finance.

According to the 2012 classification, Vietnam has a GNI per capita of $1,260, which belongs to the lower middle income group. For more information on the World Bank Country Classification of Economies, visit http://data.worldbank.org/about/country-classifications or send mail to data@worldbank.org.

NTH

Source: http://data.worldbank.org/news/newest-country-classifications-released

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