The Global Finance Magazine recently released an article comparing countries by income across the world for 2015, sourcing data from the World Bank. Gross National Income (GNI) per capita is the final income earned by a country’s residents divided by the total population. Countries are divided into 4 different groups:
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Group 1 – Low income: $1,045 or less
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Group 2 – Lower middle income: $1,046 to $4,125
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Group 3 – Upper middle income: $4,126 to $12,745
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Group 4 – High income: $12,746 or more
Based on the data of 204 countries, below is a breakdown of the number of countries that fall within each of the 4 income groups listed above.
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Group 1 – Low income: 17%
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Group 2 – Lower middle income: 25%
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Group 3 – Upper middle income: 26%
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Group 4 – High income: 32%
North America
Take a look at the breakdown of income from the 11 countries labeled above.
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High income: 4 countries
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Upper middle income: 6 countries
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Low income: 1 country
Central and South America
Take a look at the breakdown of income from the 19 countries labeled above.
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High income: 2 countries
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Upper middle income: 10 countries
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Lower middle income: 7 countries
Europe
Take a look at the breakdown of income from the 34 countries labeled above.
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High income: 21 countries
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Upper middle income: 9 countries
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Lower middle income: 4 countries
East
Take a look at the breakdown of income from the 28 countries labeled above.
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High income: 5 countries
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Upper middle income: 7 countries
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Lower middle income: 10 countries
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Low income: 6 countries
Africa
Take a look at the breakdown of income from the 42 countries labeled above.
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High income: 1 country
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Upper middle income: 7 countries
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Lower middle income: 12 countries
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Low income: 22 countries
Oceania
Take a look at the breakdown of income from the 8 countries labeled above.
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High income: 3 countries
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Upper middle income: 1 country
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Lower middle income: 4 countries
Greater Density of High Income States in Europe and Low Income States in Africa
The data shows that of the 204 countries, 66 countries (33%) are considered to have “high income” on a GNI per capita basis. Of these 66 countries, 32 are located in Europe! On the other hand, 34 countries (17%) are considered to have “low income” on a GNI per capita basis and of these 34 countries, 26 countries are in Africa. This represents over 76% of low income countries in one continent! As a matter of fact, Europe, Central and South America, and Oceania do not have any countries that fall within the “low income” group. As seen by the maps and data, countries within similar income groups (both high and low) tend to be located close to one another.