Is Argentina a low or middle income country?

Afghanistan Low income
Argentina High income: nonOECD
Armenia Lower middle income
Aruba High income: nonOECD
Australia High income: OECD

Is Argentina a lower middle income country?

During the 2017-2018 period, Argentina was classified into the upper-middle income category. In the following period of 2018-2019, Argentina rose to the high income category. However, it was announced this July that Argentina has returned to its previous classification of upper-middle income in the period 2019-2020.

What is considered a middle income country?

According to the World Bank, middle-income countries (MICs) are defined as economies with a gross national income (GNI) per capita between $1,036 and $12,535.

What countries are considered low and middle income?

Lower middle income

  • Algeria.
  • Angola.
  • Bangladesh.
  • Belize.
  • Benin.
  • Bhutan.
  • Bolivia.
  • Cabo Verde.

Which countries are middle income countries?

Middle Income Countries 2021

Rank Country 2021 Population
1 India 1,393,409,038
2 Indonesia 276,361,783
3 Pakistan 225,199,937
4 Nigeria 211,400,708

Is Argentina richer than India?

India has a GDP per capita of $7,200 as of 2017, while in Argentina, the GDP per capita is $20,900 as of 2017.

Is United States a high income country?

The World Bank defines a high-income country as one with a gross national income per capita exceeding $12,056. … Some of these countries, such as the United States, have consistently held this classification since the 1980s.

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What is considered upper middle-income?

Pew Research defines middle-income Americans as those whose annual household income is two-thirds to double the national median (adjusted for local cost of living and household size). … For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says.

What is the meaning of middle income trap?

The term middle-income trap (MIT) usually refers to countries that have experienced rapid growth and thus quickly reached middle-income status, but then failed to overcome that income range to further catch up to the developed countries.

What is considered a low income country?

According to the World Bank, low-income countries are nations that have a per capita gross national income (GNI) of less than $1,026. … The upper-middle-income group has per capita incomes between $4,038 and $12,475. The lower-middle-income nations have GNI per capita of $1,026 to $4,035.

Is Iran low income country?

Lower middle income – 51 Countries. Upper middle income – 53 Countries. High income: nonOECD – 48 Countries.

Country Income Groups (World Bank Classification)

Afghanistan Low income
Indonesia Lower middle income
Iran, Islamic Rep. Upper middle income
Iraq Upper middle income
Ireland High income: OECD

What is low middle-income?

 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 …

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