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. The term "first world" commonly refers to countries that aligned themselves with the U.S. and NATO during the Cold War. Several institutions, such as the Central Intelligence Agency (CIA) or International Monetary Fund (IMF), take factors other than high per capita income into account when classifying countries as "developed" or "advanced economies." According to the United Nations, for example, some high-income countries may also be developing countries. The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing.[2] Although Vatican City is a sovereign state, it is not classified by the World Bank under this definition.
A map of World Bank high-income economies in 2019; high-income economies are indicated in blue, while former high-income economies are shown in teal.
List of high-income economies (as of 2024 fiscal year)edit
According to the World Bank the following 83 countries (including territories) are classified as "high-income economies."[1] In brackets are the year(s) during which they held such classification; classifying began in 1987. As of the 2024 fiscal year, high-income economies are those that had a GNI per capita of $13,845 or more in 2022.[1]
The high-income threshold was originally set in 1989 at US$6,000 in 1987 prices. Thresholds for subsequent years were adjusted taking into account the average inflation in the G-5 countries (the United States, the United Kingdom, Japan, Germany, and France), and from 2001, that of Japan, the United Kingdom, the United States, and the eurozone.[4] Thus, the thresholds remain constant in real terms over time.[3] To ensure no country falls right on the threshold, country data are rounded to the nearest 10 and income thresholds are rounded to the nearest 5.[5]
The following table shows the high-income threshold from 1987 onwards. Countries with a GNI per capita (calculated using the Atlas method) above this threshold are classified by the World Bank as "high-income economies."[3]
^"The Interim Measure for calculating financial contributions: review of cut-off points defining capacity-to-pay groups" (PDF). Agenda item 4. 2008-06-04.
February 15, 2024
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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 The term first world commonly refers to countries that aligned themselves with the U S and NATO during the Cold War Several institutions such as the Central Intelligence Agency CIA or International Monetary Fund IMF take factors other than high per capita income into account when classifying countries as developed or advanced economies According to the United Nations for example some high income countries may also be developing countries The GCC countries for example are classified as developing high income countries Thus a high income country may be classified as either developed or developing 2 Although Vatican City is a sovereign state it is not classified by the World Bank under this definition A map of World Bank high income economies in 2019 high income economies are indicated in blue while former high income economies are shown in teal Contents 1 List of high income economies as of 2024 fiscal year 1 1 High income UN members 1 2 High income non UN members 1 3 Former high income economies 2 Historical thresholds 3 See also 4 ReferencesList of high income economies as of 2024 fiscal year editAccording to the World Bank the following 83 countries including territories are classified as high income economies 1 In brackets are the year s during which they held such classification classifying began in 1987 As of the 2024 fiscal year high income economies are those that had a GNI per capita of 13 845 or more in 2022 1 High income UN members edit nbsp Andorra 1990 present nbsp Antigua and Barbuda 2002 2005 08 2012 present nbsp Australia 1987 present nbsp Austria 1987 present nbsp The Bahamas 1987 present nbsp Bahrain 1987 89 2001 present nbsp Barbados 1989 2000 2002 2006 present nbsp Belgium 1987 present nbsp Brunei 1987 1990 present nbsp Canada 1987 present nbsp Chile 2012 present nbsp Croatia 2008 15 2017 present nbsp Cyprus 1988 present nbsp Czech Republic 2006 present nbsp Denmark 1987 present nbsp Estonia 2006 present nbsp Finland 1987 present nbsp France 1987 present nbsp Germany 1987 present nbsp Greece 1996 present nbsp Guyana 2022 present nbsp Hungary 2007 11 2014 present nbsp Iceland 1987 present nbsp Ireland 1987 present nbsp Israel 1987 present nbsp Italy 1987 present nbsp Japan 1987 present nbsp South Korea 1995 97 2001 present nbsp Kuwait 1987 present nbsp Latvia 2009 2012 present nbsp Liechtenstein 1994 present nbsp Lithuania 2012 present nbsp Luxembourg 1987 present nbsp Malta 1989 1998 2000 2002 present nbsp Monaco 1994 present nbsp Nauru 2015 2019 present nbsp Netherlands 1987 present nbsp New Zealand 1987 present nbsp Norway 1987 present nbsp Oman 2007 present nbsp Panama 2017 19 2021 present nbsp Poland 2009 present nbsp Portugal 1994 present nbsp Qatar 1987 present nbsp Romania 2019 2021 present nbsp Saint Kitts and Nevis 2011 present nbsp San Marino 1991 93 2000 present nbsp Saudi Arabia 1987 89 2004 present nbsp Seychelles 2014 present nbsp Singapore 1987 present nbsp Slovakia 2007 present nbsp Slovenia 1997 present nbsp Spain 1987 present nbsp Sweden 1987 present nbsp Switzerland 1987 present nbsp Trinidad and Tobago 2006 present nbsp United Arab Emirates 1987 present nbsp United Kingdom 1987 present nbsp United States 1987 present nbsp Uruguay 2012 present High income non UN members edit nbsp American Samoa 1987 89 2022 present nbsp Aruba 1987 90 1994 present nbsp Bermuda 1987 present nbsp British Virgin Islands 2015 present nbsp Cayman Islands 1993 present nbsp nbsp Channel Islands 1987 present nbsp Curacao 1994 present a nbsp Faroe Islands 1987 present nbsp French Polynesia 1990 present nbsp Gibraltar 2009 10 2015 present nbsp Greenland 1987 present nbsp Guam 1987 89 1995 present nbsp Hong Kong 1987 present nbsp Isle of Man 1987 89 2002 present nbsp Macao 1994 present nbsp New Caledonia 1995 present nbsp Northern Mariana Islands 1995 2001 2007 present nbsp Puerto Rico 1989 2002 present nbsp Saint Martin 2010 present nbsp Sint Maarten 1994 present a nbsp Taiwan 1987 present nbsp Turks and Caicos Islands 2009 present nbsp U S Virgin Islands 1987 present Former high income economies edit The year s during which they held such classification is are shown in parentheses 3 nbsp Argentina 2014 2017 nbsp Equatorial Guinea 2007 14 nbsp Mauritius 2019 nbsp Mayotte 1990 nbsp Netherlands Antilles 1994 2009 b nbsp Palau 2016 20 nbsp Russia 2012 14 nbsp Venezuela 2014 a Between 1994 and 2009 as a part of the nbsp Netherlands Antilles b Dissolved on 10 October 2010 Succeeded by Curacao and Sint Maarten Historical thresholds editThe high income threshold was originally set in 1989 at US 6 000 in 1987 prices Thresholds for subsequent years were adjusted taking into account the average inflation in the G 5 countries the United States the United Kingdom Japan Germany and France and from 2001 that of Japan the United Kingdom the United States and the eurozone 4 Thus the thresholds remain constant in real terms over time 3 To ensure no country falls right on the threshold country data are rounded to the nearest 10 and income thresholds are rounded to the nearest 5 5 The following table shows the high income threshold from 1987 onwards Countries with a GNI per capita calculated using the Atlas method above this threshold are classified by the World Bank as high income economies 3 Year GNI per capita US Date ofclassification1987 6 000 October 2 19881988 6 000 September 13 19891989 6 000 August 29 19901990 7 620 September 11 19911991 7 910 August 24 19921992 8 355 September 9 19931993 8 625 September 2 19941994 8 955 June 8 19951995 9 385 June 3 19961996 9 645 July 1 19971997 9 655 July 1 19981998 9 360 July 1 19991999 9 265 July 1 20002000 9 265 July 1 20012001 9 205 July 1 20022002 9 075 July 1 20032003 9 385 July 1 20042004 10 065 July 1 20052005 10 725 July 1 20062006 11 115 July 1 20072007 11 455 July 1 20082008 11 905 July 1 20092009 12 195 July 1 20102010 12 275 July 1 20112011 12 475 July 1 20122012 12 615 July 1 20132013 12 745 July 1 20142014 12 735 July 1 20152015 12 475 July 1 20162016 12 236 July 1 20172017 12 056 July 1 20182018 12 376 July 1 20192019 12 536 July 1 20202020 12 696 July 1 20212021 13 205 July 1 20222022 13 845 July 1 2023See also edit nbsp Banks portalHigh income OECD country Developed country Developing country Least developed countries Global North and Global SouthReferences edit a b c Country and Lending Groups World Bank Accessed on July 1 2023 UN 2005 UNCTAD Handbook of Statistics PDF Retrieved 2007 07 09 a b c comparison with the previous fiscal year World Bank Retrieved 2018 04 22 The Atlas Method World Bank The Interim Measure for calculating financial contributions review of cut off points defining capacity to pay groups PDF Agenda item 4 2008 06 04 Retrieved from https en wikipedia org w index php title World Bank high income economy amp oldid 1200889890, wikipedia, wiki, book, books, library,
