Economics

In the News

Mauritius becomes Africa's 2nd High Income Country

Geoff Riley

7th July 2020

Mauritius has become the second country after Seychelles in Africa to attain high-income status.

The new classifications published by the World Bank are based on the following income levels (all in US dollars)

  • Low income < 1,036
  • Lower-middle income 1,036 - 4,045
  • Upper-middle income 4,046 - 12,53
  • High income > 12,535 > 12,375

Mauritius - with a per capita income in 2019 of $12,740 at market exchange rates has moved from being an upper middle income country to a high income nation. Tanzania has moved to lower middle income status as has Benin. Romania - which joined the European Union in 2007 - is now classified as a high income nation for the first time.

Sri Lanka moves in the opposite direction from upper middle income to lower middle income status.

More details available here from the World Bank

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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