The World Bank is a crucial source of global economic data, offering an extensive database that helps us understand the economic landscape of nations worldwide. A key function of the World Bank Database is the classification of countries based on their income levels. This classification, updated annually, is vital for various purposes, including determining eligibility for World Bank lending and guiding international development policies. For the fiscal year 2025, the World Bank has set the income thresholds to categorize economies into four groups: low, lower-middle, upper-middle, and high-income. This article delves into these classifications, providing a clear overview of the criteria and the economies that fall under each category.
The classification is determined using the Gross National Income (GNI) per capita, calculated through the World Bank Atlas method. This method aims to smooth exchange rate fluctuations, providing a more stable measure of income. For FY25, the income thresholds, based on 2023 data, are as follows:
- Low-income economies: GNI per capita of $1,145 or less.
- Lower-middle-income economies: GNI per capita between $1,146 and $4,515.
- Upper-middle-income economies: GNI per capita between $4,516 and $14,005.
- High-income economies: GNI per capita of $14,006 or more.
These thresholds are crucial for understanding the global economic hierarchy and for benchmarking economic development. It’s important to note that the term “country” or “economy,” as used by the World Bank database, refers to any territory for which authorities report separate social or economic statistics, and does not necessarily imply political independence.
The World Bank’s classifications extend beyond just income levels. Economies are also categorized by region and lending status. The regional classifications include:
- East Asia and Pacific
- Europe and Central Asia
- Latin America & the Caribbean
- Middle East and North Africa
- North America
- South Asia
- Sub-Saharan Africa
Lending categories further differentiate economies based on their borrowing eligibility and include:
- IDA (International Development Association): Typically for the poorest countries.
- Blend: For countries eligible for both IDA and IBRD (International Bank for Reconstruction and Development) lending.
- IBRD: For middle-income and creditworthy low-income countries.
Below are the lists of economies categorized by region and income level, providing a detailed snapshot derived from the World Bank database for the fiscal year 2025.
East Asia and Pacific: American Samoa, Australia, Brunei Darussalam, Cambodia, China, Fiji, French Polynesia, Guam, Hong Kong SAR, China, Indonesia, Japan, Kiribati, Korea, Dem. People’s Rep., Korea, Rep., Lao PDR, Macao SAR, China, Malaysia, Marshall Islands, Micronesia, Fed. Sts., Mongolia, Myanmar, Nauru, New Caledonia, New Zealand, Northern Mariana Islands, Palau, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Taiwan, China, Thailand, Timor-Leste, Tonga, Tuvalu, Vanuatu, Vietnam.
Europe and Central Asia: Albania, Andorra, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Channel Islands, Croatia, Cyprus, Czechia, Denmark, Estonia, Faroe Islands, Finland, France, Georgia, Germany, Gibraltar, Greece, Greenland, Hungary, Iceland, Ireland, Isle of Man, Italy, Kazakhstan, Kosovo, Kyrgyz Republic, Latvia, Liechtenstein, Lithuania, Luxembourg, Moldova, Monaco, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Russian Federation, San Marino, Serbia, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Tajikistan, Türkiye, Turkmenistan, Ukraine, United Kingdom, Uzbekistan.
Latin America and the Caribbean: Antigua and Barbuda, Argentina, Aruba, Bahamas, The, Barbados, Belize, Bolivia, Brazil, British Virgin Islands, Cayman Islands, Chile, Colombia, Costa Rica, Cuba, Curacao, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Sint Maarten (Dutch part), St. Kitts and Nevis, St. Lucia, St. Martin (French part), St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, Uruguay, Venezuela, RB, Virgin Islands (U.S.).
Middle East and North Africa: Algeria, Bahrain, Djibouti, Egypt, Arab Rep., Iran, Islamic Rep., Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Malta, Morocco, Oman, Qatar, Saudi Arabia, Syrian Arab Republic, Tunisia, United Arab Emirates, West Bank and Gaza, Yemen, Rep.
North America: Bermuda, Canada, United States.
South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka.
Sub-Saharan Africa: Angola, Benin, Botswana, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Comoros, Congo, Dem. Rep., Congo, Rep., Côte d’Ivoire, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia, The, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Rwanda, São Tomé and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, Togo, Uganda, Zambia, Zimbabwe.
Income Level Classifications in Detail:
Low-income economies: Afghanistan, Burkina Faso, Burundi, Central African Republic, Chad, Congo, Dem. Rep, Eritrea, Ethiopia, Gambia, The, Guinea-Bissau, Korea, Dem. People’s Rep, Liberia, Madagascar, Malawi, Mali, Mozambique, Niger, Rwanda, Sierra Leone, Somalia, South Sudan, Sudan, Syrian Arab Republic, Togo, Uganda, Yemen, Rep.
Lower-middle-income economies: Angola, Bangladesh, Benin, Bhutan, Bolivia, Cabo Verde, Cambodia, Cameroon, Comoros, Congo, Rep., Côte d’Ivoire, Djibouti, Egypt, Arab Rep., Eswatini, Ghana, Guinea, Haiti, Honduras, India, Jordan, Kenya, Kiribati, Kyrgyz Republic, Lao PDR, Lebanon, Lesotho, Mauritania, Micronesia, Fed. Sts., Morocco, Myanmar, Nepal, Nicaragua, Nigeria, Pakistan, Papua New Guinea, Philippines, Samoa, São Tomé and Principe, Senegal, Solomon Islands, Sri Lanka, Tajikistan, Tanzania, Timor-Leste, Tunisia, Uzbekistan, Vanuatu, Vietnam, West Bank and Gaza, Zambia, Zimbabwe.
Upper-middle-income economies: Albania, Algeria, Argentina, Armenia, Azerbaijan, Belarus, Belize, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, China, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Equatorial Guinea, Fiji, Gabon, Georgia, Grenada, Guatemala, Indonesia, Iran, Islamic Rep., Iraq, Jamaica, Kazakhstan, Kosovo, Libya, Malaysia, Maldives, Marshall Islands, Mauritius, Mexico, Moldova, Mongolia, Montenegro, Namibia, North Macedonia, Paraguay, Peru, Serbia, South Africa, St. Lucia, St. Vincent and the Grenadines, Suriname, Thailand, Tonga, Türkiye, Turkmenistan, Tuvalu, Ukraine.
High-income economies: American Samoa, Andorra, Antigua and Barbuda, Aruba, Australia, Austria, Bahamas, The, Bahrain, Barbados, Belgium, Bermuda, British Virgin Islands, Brunei Darussalam, Bulgaria, Canada, Cayman Islands, Channel Islands, Chile, Croatia, Curaçao, Cyprus, Czechia, Denmark, Estonia, Faroe Islands, Finland, France, French Polynesia, Germany, Gibraltar, Greece, Greenland, Guam, Guyana, Hong Kong SAR, China, Hungary, Iceland, Ireland, Isle of Man, Israel, Italy, Japan, Korea, Rep., Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Macao SAR, China, Malta, Monaco, Nauru, Netherlands, New Caledonia, New Zealand, Northern Mariana Islands, Norway, Oman, Palau, Panama, Poland, Portugal, Puerto Rico, Qatar, Romania, Russian Federation, San Marino, Saudi Arabia, Seychelles, Singapore, Sint Maarten (Dutch part), Slovak Republic, Slovenia, Spain, St. Kitts and Nevis, St. Martin (French part), Sweden, Switzerland, Taiwan, China, Trinidad and Tobago, Turks and Caicos Islands, United Arab Emirates, United Kingdom, United States, Uruguay, Virgin Islands (U.S.).
Lending Categories Breakdown:
IDA: Afghanistan, Bangladesh, Benin, Bhutan, Burkina Faso, Burundi, Cambodia, Central African Republic, Chad, Comoros, Congo, Dem. Rep., Côte d’Ivoire, Djibouti, Eritrea, Ethiopia, Gambia, The, Ghana, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Kiribati, Kosovo, Kyrgyz Republic, Lao PDR, Lesotho, Liberia, Madagascar, Malawi, Maldives, Mali, Marshall Islands, Mauritania, Micronesia, Fed. Sts., Mozambique, Myanmar, Nepal, Nicaragua, Niger, Rwanda, Samoa, São Tomé and Principe, Senegal, Sierra Leone, Solomon Islands, Somalia, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Tajikistan, Tanzania, Togo, Tonga, Tuvalu, Uganda, Vanuatu, Yemen, Rep., Zambia.
Blend: Belize, Cabo Verde, Cameroon, Congo, Rep., Dominica, Eswatini, Fiji, Grenada, Kenya, Nigeria, Pakistan, Papua New Guinea, St. Lucia, St. Vincent and the Grenadines, Timor-Leste, Uzbekistan, Zimbabwe.
IBRD: Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Azerbaijan, Barbados, Belarus, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Bulgaria, Chile, China, Colombia, Costa Rica, Croatia, Dominican Republic, Ecuador, Egypt, Arab Rep., El Salvador, Equatorial Guinea, Gabon, Georgia, Guatemala, India, Indonesia, Iran, Islamic Rep., Iraq, Jamaica, Jordan, Kazakhstan, Lebanon, Libya, Malaysia, Mauritius, Mexico, Moldova, Mongolia, Morocco, Namibia, Nauru, North Macedonia, Palau, Panama, Paraguay, Peru, Philippines, Poland, Romania, Russian Federation, Serbia, Seychelles, South Africa, St. Kitts and Nevis, Suriname, Thailand, Trinidad and Tobago, Tunisia, Türkiye, Turkmenistan, Ukraine, Uruguay, Venezuela, RB, Vietnam.
In conclusion, the World Bank database’s country classifications are a fundamental tool for understanding global economic disparities and development levels. By utilizing GNI per capita and the Atlas method, the World Bank provides a consistent and comparable framework. This classification system, regularly updated and freely accessible through the World Bank database, is invaluable for researchers, policymakers, and anyone interested in the global economy. Exploring the World Bank’s World Development Indicators website can offer even deeper insights into these classifications and related economic data.
