what are called high and low income countries?
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A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), or underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.
The World Bank defines a high-income country as one that has a gross national income per capita exceeding $12,056.
As of April 2019, the countries that are classified as high-income are:
- Andorra.
- Antigua and Barbuda.
- Argentina.
- Aruba.
- Australia.
- Austria.
- Bahamas.
- Bahrain.
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★ Countries are analyzed based on their GDP per person and ranked as low- middle-, and high-income countries. Low-income are those earning less than $1,025 (less than 1%) of global income.
★ High-income countries are those
with per capita income greater than
$12,475 (68.3% of global income).
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