The world bank classifies all its member countries (185 of them) and all economies with a population of 30,000 or more (another 24; altogether 209) by various classification.

One of the most commonly referred to classifications is by per capita income (GNI per capita).

There are four classifications based on income - high income, upper middle income, middle income and low income. The current basis of the classification is data from 2007.

Incomes below $935 fall under low income economies. $936 to $3,705 falls under lower middle income economies. $3706 to $11,455 of per capita income is classified as upper middle income economies and above $11,455 of per capita GNI qualifies as a high income economy.

At today's (Nov. 14, 2008) exchange rate (Rs. 49.46 to the USD), that would be - Below Rs. 46, 245 for low income, from there to Rs. 1,83,249 for lower middle income economies, and from there to Rs. 5, 66,564 for upper middle income economies and beyond that for high income economies.

The world Bank, further divides high income economies into two - OECD economies and non- OECD economies. OECD is the Organisation for Economic Cooperation and development

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Source : World Bank

For those who are curious, India is classified as a lower middle income economy and so is China. Pakistan is low income and Sri Lanka is lower middle income. Nepal is Low income and Bhutan is lower middle income. Myanmar (Burma) is low income.

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written by silly bandz, August 28, 2010

power balance
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