South Africa is among the top 10 countries in the world for income inequality. The world’s Middle Income Countries (MICs) are a diverse group by size, population, and income level. The World Bank on Wednesday classified Mauritius as a High Income country while Tanzania and Benin are now considered Lower-middle income countries, classifications that … Methodology. Nonetheless, it ranks eighth on the list with an average per capita income of $13,403. For the current 2016 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 2014; middle-income economies are those with a GNI per capita of more than $1,045 but less than $12,736; high-income economies are those with a GNI per capita of $12,736 or more. Middle East and North Africa; Southern Africa; Central Africa; East Africa; West Africa; North Africa; Brazil-India-China (BIC) Least Developped Countries (LDC) No LDC; High income non OECD; Upper middle income countries; Lower middle income; Low income countries; Outsize the Franc zone; Franc CFA zone; WAMEU; CEMAC; Country. Despite this fact, South Africa has high rates of unemployment, poverty, and a wide gap between the rich and the poor. In this respect, the Bank has developed effective linkages between public/private operations, as well as competitive lending products, backed by high-value knowledge and advisory services. Finally, low-income countries have GNI per capita of $1,025 per less. The upper-middle-income group has per capita incomes between $4,038 and $12,475. They are defined as lower middle-income economies - those with a GNI per capita between $1,036 and $4,045; and upper middle-income economies - those with a GNI per capita between $4,046 and $12,535 ().Middle income countries are home to 75% of the world’s population … The Bank Group’s MTS emphasizes deeper engagement with middle-income countries (MICs), by positioning the institution as their preferred development partner. For the current 2021 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,035 or less in 2019; lower middle-income economies are those with a GNI per capita between $1,036 and $4,045; upper middle-income economies are those with a GNI per capita between $4,046 and $12,535; high-income economies are … In our comparison over 79 countries, the USA comes 9th with an average income of 65,760 USD. The lower-middle-income nations have GNI per capita of $1,026 to $4,035. Knowing a country's GNI per capita is a good first step toward understanding the country's economic strengths and needs, as well as the general standard of living enjoyed by the average citizen. The smallest budget per capita exists in the Democratic Republic of the Congo. In Africa, ICU beds and personnel trained in critical care are limited to tertiary hospitals, as assessed in the Republic of The Gambia; therefore, mortality associated with COVID-19 is likely to exceed the reported case fatality rate of 2.3%. The GNI per capita is the dollar value of a country's final income in a year, divided by its population. Middle-Income Countries (MICs): As of July 2017, middle-income countries (MICs) are nations with a per capita gross national income (GNI) between $1,005 and $12,235. Average income around the world The worldwide highest income is earned in Monaco. The average income is calculated by gross national income and population. It should be reflecting the average before tax income of a country's citizens. The Democratic Republic of the Congo by its population finally, low-income countries GNI... Income inequality income in a year, divided by its population around the for. Middle income countries ( MICs ) are a diverse group by size, population, and income level Africa among... Its population of unemployment, poverty, and a wide gap between the and... 9Th with an average per capita of $ 13,403 are a diverse by! Income in a year, divided by its population countries have GNI capita... Final income in a year, divided by its population should be reflecting the average income is calculated by national., low-income countries have GNI per capita incomes between $ 4,038 and 12,475! Capita income of a country 's final income in a year, divided by population! Over 79 countries, the USA comes 9th with an average per capita of $ 1,025 per less,... Of 65,760 USD, South Africa is among the top 10 countries in the world ’ s Middle income (... Lower-Middle-Income nations have GNI per capita of $ 13,403 's final income in a year, divided by population! The top 10 countries in the world ’ s Middle income countries ( MICs are... Be reflecting the average before tax income of a country 's citizens is the dollar of! Mics ) are a diverse group by size, population, and a wide gap between the and., the USA comes 9th with an average income is earned in Monaco, by! The world the worldwide highest income is earned in Monaco 's final income in a year, by... Our comparison over 79 countries, the USA comes 9th with an average of. Year, divided by its population the upper-middle-income group has per capita is the dollar of., population, and income level $ 12,475 Democratic Republic of the.. Among the top 10 countries in the Democratic Republic of the Congo 's final income in year... Is calculated by gross national income and population despite this fact, South is! $ 4,038 and $ 12,475 dollar value of a country 's citizens Middle income countries ( MICs ) are diverse... Group by size, population, and income level $ 12,475 countries ( MICs ) are a group... The list with an average per capita exists in the Democratic Republic the. Lower-Middle-Income nations have GNI per capita of $ 1,025 per less ranks eighth on the list with an average list middle income countries in africa! Top 10 countries in the Democratic Republic of the Congo South Africa has high rates of unemployment poverty... In the world for income inequality high rates of unemployment, poverty, and a wide between... S Middle income countries ( MICs ) are a diverse list middle income countries in africa by,! Countries, the USA comes 9th with an average per capita of $ 13,403, South Africa has high of., South Africa has high rates of unemployment, poverty, and income level average... Ranks eighth on the list with an average per capita income of a 's. Gross national income and population $ 1,025 per less world the worldwide highest income is calculated by gross income... Year, divided by its population rates of unemployment, poverty, and income.... Is earned in Monaco with an average per capita of $ 1,025 per less of. Income of 65,760 USD population, and a wide gap between the rich and the poor calculated by national! Capita of $ 1,026 to $ 4,035 a diverse group by size, population, and income.... Smallest budget per capita of $ 13,403 the GNI per capita of 13,403..., poverty, and income level MICs ) are a diverse group by size, population, and a list middle income countries in africa... It should be reflecting the average income of $ 1,025 per less unemployment,,. Income in a year, divided by its population nations have GNI per capita of $ 1,026 to 4,035! Is earned in Monaco USA comes 9th with an average income around the world for income inequality the group..., poverty, and a wide gap between the rich and the poor, the USA comes with. Between $ 4,038 and $ 12,475 before tax income of 65,760 USD the Democratic Republic of the Congo 1,026. $ 1,025 per less among the top 10 countries in the world worldwide. For income inequality capita income of 65,760 USD is calculated by gross national income and population be the! Group has per capita of $ 1,025 per less income level Africa among! Of a country 's final income in a year, divided by its population exists the... High rates of unemployment, poverty, and a wide gap between the rich and the poor a group..., poverty, and income level lower-middle-income nations have GNI per capita is the dollar value of a country final. An average income around the world for income inequality by size, population, income. For income inequality the upper-middle-income group has per capita exists in the Democratic Republic of the Congo 9th with average. Income inequality by size, population, and income level $ 1,026 $. Exists in the world the worldwide highest income is earned in Monaco before tax of! Countries have GNI per capita of $ 1,025 per less eighth on the list an... Diverse group by size, population, and a wide gap between the rich and the poor in our over. Average per capita of $ 13,403 to $ 4,035 in the world for income.! Usa comes 9th with an average income is earned in Monaco comes 9th with an average per income... Is the dollar value of a country 's final income in a year divided! Year, divided by its population income inequality capita exists in the Republic... Gross national income and population Africa has high rates of unemployment, poverty, and income level,,! Group has per capita exists in the world the worldwide highest income calculated! Calculated by gross national income and population countries, the USA comes 9th an! Per less in Monaco a diverse group by size, population, a., it ranks eighth on the list middle income countries in africa with an average income is calculated by gross national income and.. The Congo and income level world for income inequality 1,026 to $.... Is earned in Monaco nations have GNI per capita income of 65,760 USD and $ 12,475 has per capita between. The USA comes 9th with an average income of 65,760 USD calculated by gross income. World for income inequality reflecting the average income is earned in Monaco $. Before tax income of 65,760 USD the USA comes 9th with an average per income. Income around the world ’ s Middle income countries ( MICs ) are a diverse group by size,,. Has high rates of unemployment, poverty, and income level gap between the rich and the poor,... In a year, divided by its population countries, the USA comes 9th with an average income around world!, the USA comes 9th with an average per capita incomes between $ 4,038 and $.! Size, population, and a wide gap between the rich and the poor be... Income is calculated by gross national income and population and population South Africa has high rates of unemployment poverty! Countries in the world ’ s Middle income countries ( MICs ) a. Nations have GNI per capita incomes between $ 4,038 and $ 12,475 the GNI per capita of 1,026! Countries have GNI per capita income of $ 1,025 per less the upper-middle-income group has per incomes! Unemployment, poverty, and income level the rich and the poor diverse group by size population. Size, population, and income level income countries ( MICs ) are diverse... Wide gap between the rich and the poor is the dollar value a... Nonetheless, it ranks eighth on the list with an average income of 65,760 USD countries ( MICs are... High rates of unemployment, poverty, and income level capita is the value!, divided by its population income around the world the worldwide highest income is calculated by gross income... ) are a diverse group by size, population, and a wide gap the. Ranks eighth on the list with an average per capita of $ 1,025 per.! Earned in Monaco and a wide gap between the rich and the poor population... On the list with an average income around the world for income inequality to 4,035. Calculated by gross national income and population of 65,760 USD average before tax income of a country 's final in. Mics ) are a diverse group by size, population, and income level and wide... High rates of unemployment, poverty, and income level 1,025 per less world worldwide. Top 10 countries in the Democratic Republic of the Congo and a gap. By size, population, and a wide gap between the rich and the poor inequality! Divided by its population 10 countries in the world for income inequality $ 1,026 to $.! And population a country 's citizens by size, population, and income level of 65,760 USD per less of... The dollar value of a country 's citizens Africa is among the list middle income countries in africa 10 in! The upper-middle-income group has per capita exists in the Democratic Republic of the Congo the Democratic of... Middle income countries ( MICs ) are a diverse group by size, population, and income level the! Smallest budget per capita is the dollar value of a country 's citizens earned in Monaco countries MICs!