World Bank high-income economy

Income classification for countries

A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$14,005 or more in 2023, 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, as of 2023

## List of high-income economies (as of 2024 fiscal year)

[edit]

According to the World Bank the following 86 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 $14,005 or more in 2023.[1]

### High income UN members

[edit]

* 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)
* Bulgaria (2023–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)
* 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)
* Palau (2016–20, 2023–present)
* Panama (2017–19, 2021–present)
* Poland (2009–present)
* Portugal (1994–present)
* Qatar (1987–present)
* Romania (2019, 2021–present)
* Russia (2012–14, 2023–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)
* South Korea (1995–97, 2001–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

[edit]

* 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

[edit]

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
* 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

[edit]

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]

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
2023  | 14,005  | July 1, 2024

## See also

[edit]

* Banks portal

* High-income OECD country
* Developed country
* Developing country
* Least developed countries
* Global North and Global South

## References

[edit]

1. ^ a b c Country and Lending Groups. World Bank. Accessed on July 1, 2023.
2. ^ "UN. (2005). UNCTAD Handbook of Statistics" (PDF). Retrieved 2007-07-09.
3. ^ a b c "comparison with the previous fiscal year". World Bank. Retrieved 2018-04-22.
4. ^ The Atlas Method, World Bank.
5. ^ "The Interim Measure for calculating financial contributions: review of cut-off points defining capacity-to-pay groups" (PDF). Agenda item 4. 2008-06-04.

* v
* t
* e

Economic classification of countries

* Developed country
* Developing country
* Heavily indebted poor countries
* Least developed countries
* Newly industrialized country
* World Bank high-income economy

Three/Four-World Model|

* First World
* Second World
* Third World
* Fourth World

Gross domestic product (GDP)|

| Nominal|

* By country
* past and projected
* per capita
* per capita

|

Purchasing
power parity (PPP)|

* By country
* future estimates
* per capita
* per capita
* per person employed

Income|

* GNI (nominal) per capita
* GNI (PPP) per capita
* Disposable income
* Real
* Per capita growth

Wages|

* Average wage
* Europe
* Employee compensation (per hour)
* Minimum wages
* Canada
* Europe
* United States

Wealth|

* Wealth per adult
* Europe
* Financial assets per capita

Other national accounts|

* Gross National Happiness
* Net material product
* Research and development spending
* Stock market capitalization
* Patents, trademarks, and industrial design filing activity

Human development|

* Human Development Index
* by country
* inequality-adjusted
* planetary pressures–adjusted HDI
* Human Poverty Index
* Percentage living in poverty
* Human Capital Index
* Household income
* Social Progress Index

Digital divide|

* ICT Development Index
* Number of broadband Internet subscriptions
* Number of Internet users
* Smartphone penetration

Net international
investment position (NIIP)|

* Per capita (creditors)
* Per capita (debtors)

* Economics portal
* World portal

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template