Antigua & Barbuda Rated as ‘High Income’ by World Bank

The World Bank has classified Antigua & Barbuda as a high income country in its latest Country Income Classification.

Every year, the World Bank Group classifies the world’s economies into four income groups: low, lower-middle, upper-middle, and high. These classifications, updated each year on July 1, are based on the previous year’s Gross National Income (GNI) per capita, expressed in U.S. Dollars using the Atlas Method.

GNI is a measure of the total income earned by residents of a country or region each year.  To be categorized as high income, residents and citizens must make more than an average of $14,375 per year.

In all, 87 countries around the world are termed high income according to the report.  They include the Eastern Caribbean territories of Barbados, St. Kitts & Nevis, and Trinidad & Tobago.

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