Mauritius has beaten the odds to become the first African country to be ranked as a High-Income nation by the World Bank.
According to the World Bank data, Mauritius’ Gross National Income (GNI) per capita as of July 1, 2020 was $12,740, compared to $12,050 last year.
On the other hand, Tanzania and Benin have now been ranked as lower-middle-income countries. Tanzania’s Gross National Income (GNI) per capita as of July 1, 2020 was $1,080 up from $1,020 in 2019. Benin’s GNI per capita was $1,250, up from $870 last year.
Sudan and Algeria were moved to lower categories. Sudan, which was classified as a lower-middle-income country in 2019, is now a low-income country, while Algeria moved from upper-middle-income to lower-middle-income.
The GNI per capita is the dollar value of a country’s final income in a year, divided by its population. In each country, factors such as economic growth, inflation, exchange rates, and population growth influence GNI per capita.
The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. The classifications are updated each year on July 1 and are based on GNI per capita in current USD (using the Atlas method exchange rates) of the previous year (i.e. 2019 in this case).
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