What are the four groups into which the World Bank classifies countries?
The World Bank classifies countries in one four categories, depending upon level of economic development. Simply, the Bank categorizes countries as low, middle, upper-middle, and high-income, with gross domestic product being the determining number. Low-income countries, under World Bank criteria, are those with gross domestic products of $1,035 or less per annum. Middle-income countries have GNPs within the range of $1,036 to $4,085. Upper-middle-income economies are those with GNPs between $4,086 and $12,615, and high-income economies are those with GNPs above $12,616.
In addition to country rankings or categorizations according to wealth, the World Bank also groups countries according to geographic region: East Asia and the Pacific; Europe and Central Asia; Latin America and the Caribbean; Middle East and North Africa; South Asia, and Sub-Saharan Africa.
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