World Bank high-income economy
A high-income economy is defined by 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.
List of high-income economies (as of 2024 fiscal year)
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]
High income UN members
- Andorra (1990–present)
- Antigua and Barbuda (2002, 2005–08, 2012–present)
- Australia (1987–present)
- Austria (1987–present)
- The Bahamas (1987–present)
- Bahrain (1987–89, 2001–present)
- Barbados (1989, 2000, 2002, 2006–present)
- Belgium (1987–present)
- Brunei (1987, 1990–present)
- Canada (1987–present)
- Chile (2012–present)
- Croatia (2008–15, 2017–present)
- Cyprus (1988–present)
- Czech Republic (2006–present)
- Denmark (1987–present)
- Estonia (2006–present)
- Finland (1987–present)
- France (1987–present)
- Germany (1987–present)
- Greece (1996–present)
- Guyana (2022–present)
- Hungary (2007–11, 2014–present)
- Iceland (1987–present)
- Ireland (1987–present)
- Israel (1987–present)
- Italy (1987–present)
- Japan (1987–present)
- South Korea (1995–97, 2001–present)
- Kuwait (1987–present)
- Latvia (2009, 2012–present)
- Liechtenstein (1994–present)
- Lithuania (2012–present)
- Luxembourg (1987–present)
- Malta (1989, 1998, 2000, 2002–present)
- Monaco (1994–present)
- Nauru (2015, 2019–present)
- Netherlands (1987–present)
- New Zealand (1987–present)
- Norway (1987–present)
- Oman (2007–present)
- Panama (2017–19, 2021–present)
- Poland (2009–present)
- Portugal (1994–present)
- Qatar (1987–present)
- Romania (2019, 2021–present)
- Saint Kitts and Nevis (2011–present)
- San Marino (1991–93, 2000–present)
- Saudi Arabia (1987–89, 2004–present)
- Seychelles (2014–present)
- Singapore (1987–present)
- Slovakia (2007–present)
- Slovenia (1997–present)
- Spain (1987–present)
- Sweden (1987–present)
- Switzerland (1987–present)
- Trinidad and Tobago (2006–present)
- United Arab Emirates (1987–present)
- United Kingdom (1987–present)
- United States (1987–present)
- Uruguay (2012–present)
High income non-UN members
- American Samoa (1987–89, 2022–present)
- Aruba (1987–90, 1994–present)
- Bermuda (1987–present)
- British Virgin Islands (2015–present)
- Cayman Islands (1993–present)
- / Channel Islands (1987–present)
- Curaçao (1994–present)a
- Faroe Islands (1987–present)
- French Polynesia (1990–present)
- Gibraltar (2009–10, 2015–present)
- Greenland (1987–present)
- Guam (1987–89, 1995–present)
- Hong Kong (1987–present)
- Isle of Man (1987–89, 2002–present)
- Macao (1994–present)
- New Caledonia (1995–present)
- Northern Mariana Islands (1995–2001, 2007–present)
- Puerto Rico (1989, 2002–present)
- Saint Martin (2010–present)
- Sint Maarten (1994–present)a
- Taiwan (1987–present)
- Turks and Caicos Islands (2009–present)
- U.S. Virgin Islands (1987–present)
Former high-income economies
The year(s) during which they held such classification is/are shown in parentheses.[3]
- Argentina (2014, 2017)
- Equatorial Guinea (2007–14)
- Mauritius (2019)
- Mayotte (1990)
- Netherlands Antilles (1994–2009)b
- Palau (2016–20)
- Russia (2012–14, 2022)
- Venezuela (2014)
a Between 1994 and 2009, as a part of the Netherlands Antilles. b Dissolved on 10 October 2010. Succeeded by Curaçao and Sint Maarten.
Historical thresholds
The high-income threshold was originally set in 1989 at
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 of classification |
---|---|---|
1987 | 6,000 | October 2, 1988 |
1988 | 6,000 | September 13, 1989 |
1989 | 6,000 | August 29, 1990 |
1990 | 7,620 | September 11, 1991 |
1991 | 7,910 | August 24, 1992 |
1992 | 8,355 | September 9, 1993 |
1993 | 8,625 | September 2, 1994 |
1994 | 8,955 | June 8, 1995 |
1995 | 9,385 | June 3, 1996 |
1996 | 9,645 | July 1, 1997 |
1997 | 9,655 | July 1, 1998 |
1998 | 9,360 | July 1, 1999 |
1999 | 9,265 | July 1, 2000 |
2000 | 9,265 | July 1, 2001 |
2001 | 9,205 | July 1, 2002 |
2002 | 9,075 | July 1, 2003 |
2003 | 9,385 | July 1, 2004 |
2004 | 10,065 | July 1, 2005 |
2005 | 10,725 | July 1, 2006 |
2006 | 11,115 | July 1, 2007 |
2007 | 11,455 | July 1, 2008 |
2008 | 11,905 | July 1, 2009 |
2009 | 12,195 | July 1, 2010 |
2010 | 12,275 | July 1, 2011 |
2011 | 12,475 | July 1, 2012 |
2012 | 12,615 | July 1, 2013 |
2013 | 12,745 | July 1, 2014 |
2014 | 12,735 | July 1, 2015 |
2015 | 12,475 | July 1, 2016 |
2016 | 12,236 | July 1, 2017 |
2017 | 12,056 | July 1, 2018 |
2018 | 12,376 | July 1, 2019 |
2019 | 12,536 | July 1, 2020 |
2020 | 12,696 | July 1, 2021 |
2021 | 13,205 | July 1, 2022 |
2022 | 13,845 | July 1, 2023 |
See also
- High-income OECD country
- Developed country
- Developing country
- Least developed countries
- Global North and Global South
References
- ^ 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.