What countries are middle-income?

Middle-Income Country (MIC) Characteristics 1 MICs are a very diverse group by region, size, population, and income level, ranging from tiny nations with small populations, such as Belize and the Marshall Islands, to all four of the BRIC giants—Brazil, Russia, India, and China.

Is Philippines a middle income country?

THE PHILIPPINES remained a lower-middle-income economy after a coronavirus pandemic pulled the economy down last year, according to the World Bank. The World Bank also increased its income range for the upper-middle-income bracket to a GNI capital of $4,096-$12,695 from $4,046-$12,535.

What defines a middle income country?

Middle-income economies are those with a GNI per capita, calculated using the World Bank Atlas method, of more than $1,045. but less than $12,736. Middle to upper income.

Which countries in Africa are middle-income?

Other countries with high percentages of the middle class include Gabon, Botswana, Namibia, Ghana, Cape Verde, Kenya and South Africa. Countries at the bottom end include Mozambique, Madagascar, Malawi, Rwanda, Burundi and Liberia.

What are lower middle income countries?

For the current 2022 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,045 or less in 2020; lower middle-income economies are those with a GNI per capita between $1,046 and $4,095; upper middle-income economies are those with a GNI per …

What is considered upper middle income?

A family earning between $32,048 and $53,413 was considered lower-middle class….What Is a Middle-Class Income?

Income group	Income
Lower-middle class	$32,048 – $53,413
Middle class	$53,413 – $106,827
Upper-middle class	$106,827 – $373,894

What are the upper middle income countries?

This group consists of 12 following countries: Algeria, Angola, Botswana, Brazil, China, Gabon, Libya, Mauritius, Namibia, Seychelles, South Africa, Tunisia.

What is low-income and middle income countries?

What are lower middle-income countries?

Are there any high income countries in Africa?

GDP per capita of African countries 2021 Gabon followed directly with 8.6 thousand U.S. dollars. South Africa’s GDP per capita equaled to 5.4 thousand dollars, the sixth highest in Africa. The country has the third highest GDP of Africa, after Nigeria and Egypt, which added up to 283 billion U.S. dollars in 2020.

What makes a country a middle income country?

According to the World Bank, middle-income countries (or MICs) are nations that have a per capita gross national income (GNI) between $1,026 and $12,475. World Bank has historically broken-down countries’ economies into three categories: high income, middle income, and low income.

Who is an expert in middle income countries?

Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance in top universities. She has been an investor, an entrepreneur and an adviser for 25 + years in the US and MENA. What Is a Middle-Income Country? (MIC)

Is the World Bank a low or high income country?

The World Bank has historically classified every economy as low, middle, or high income. It now further specifies countries as having low-, lower-middle-, upper-middle-, or high-income economies.

What’s the difference between MICS and upper middle income?

MICs are broken up into lower-middle income and upper-middle income economies. Lower-middle-income economies have per capita GNIs between $1,026 and $3,955, while upper-middle economies have per capita GNIs between $3,956 and $12,475.

What countries are middle-income? Middle-Income Country (MIC) Characteristics 1 MICs are a very diverse group by region, size, population, and income level, ranging from tiny nations with small populations, such as Belize and the Marshall Islands, to all four of the BRIC giants—Brazil, Russia, India, and China. Is Philippines a middle income country? THE PHILIPPINES…