Updated country income classifications are available here. 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. 2019 in this case). The classifications change for two reasons:
Changes in classificationsThe table below lists the ten economies that are moving to a different category. 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. National accounts revisions have played a significant role in the upward revision for Benin, Nauru and Tanzania. For Sudan, the GNI series for 2009-2018 has been revised as a result of revisions to the exchange rates. The 2018 GNI per capita figure has been revised down to $840 from the previously published figure of $1,560 (which is listed in the table). Algeria, Indonesia, Mauritius, Nepal, Sri Lanka and Romania were very close to the respective thresholds last year. More informationMore detailed information on how the World Bank classifies countries is available here. The country and lending groups page provides a complete list of economies classified by income, region, and lending status and links to previous years’ classifications. The lending groups (IDA, Blend, IBRD) have also been updated. The classification tables include all World Bank members, plus all other economies with populations of more than 30,000. The term country, used interchangeably with economy, does not imply political independence but refers to any territory for which authorities report separate social or economic statistics. Data for GNI, GNI per capita, GDP, GDP PPP, and Population for 2019 are now available on the World Bank's Open Data Catalog. Note that these are preliminary estimates and may be revised. For more information, please contact us at [email protected]. Share this on Twitter:
Authors Which trend has the World Bank see in its study of poverty in lowMore women live in poverty than men. Which trend has the World Bank seen in its study of poverty in low-income nations? 88 million people live on one less than a dollar a day.
Which statement explains why Immanuel Wallerstein's classification is preferred by sociologists quizlet?Which statement explains why Immanuel Wallerstein's classification is preferred by sociologist? Wallerstein's classification uses neutral terms that allow his classification of nations to be less biased and appear less ethnocentric.
Which organization created the classification of countries based on per capita income?When it comes to income , the World Bank divides the world's economies into four income groups: high, upper-middle, lower-middle, and low. The income classification is based on a measure of national income per person, or GNI per capita, calculated using the Atlas method.
How is global stratification different from social stratification group of answer choices?How is global stratification different from social stratification? Global stratification examines a myriad of different types of prejudice and inequality, while social stratification covers the social class and standing of individuals.
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Which number does the world Bank use to determine the status and classification of each nation
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