A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$14,005 or more in 2023, calculated using the Atlas method. [1] While the term "high-income" is often used interchangeably with "First World" and "developed country," the technical definitions of these terms differ. The term "first world" commonly refers to countries that aligned themselves with the U.S. and NATO during the Cold War. Several institutions, such as the Central Intelligence Agency (CIA) or International Monetary Fund (IMF), take factors other than high per capita income into account when classifying countries as "developed" or "advanced economies." According to the United Nations, for example, some high-income countries may also be developing countries. The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing. [2] Although Vatican City is a sovereign state, it is not classified by the World Bank under this definition.
According to the World Bank the following 86 countries (including territories) are classified as "high-income economies." [1] In brackets are the year(s) during which they held such classification; classifying began in 1987. As of the 2024 fiscal year, high-income economies are those that had a GNI per capita of $14,005 or more in 2023. [1]
The year(s) during which they held such classification is/are shown in parentheses. [3]
aBetween 1994 and 2009, as a part of the Netherlands Antilles.b Dissolved on 10 October 2010. Succeeded by Curaçao and Sint Maarten.
The high-income threshold was originally set in 1989 at US$6,000 in 1987 prices. Thresholds for subsequent years were adjusted taking into account the average inflation in the G-5 countries (the United States, the United Kingdom, Japan, Germany, and France), and from 2001, that of Japan, the United Kingdom, the United States, and the eurozone. [4] Thus, the thresholds remain constant in real terms over time. [3] To ensure no country falls right on the threshold, country data are rounded to the nearest 10 and income thresholds are rounded to the nearest 5. [5]
The following table shows the high-income threshold from 1987 onwards. Countries with a GNI per capita (calculated using the Atlas method) above this threshold are classified by the World Bank as "high-income economies." [3]
Year | GNI per capita (US$) | Date of classification |
---|---|---|
1987 | 6,000 | October 2, 1988 |
1988 | 6,000 | September 13, 1989 |
1989 | 6,000 | August 29, 1990 |
1990 | 7,620 | September 11, 1991 |
1991 | 7,910 | August 24, 1992 |
1992 | 8,355 | September 9, 1993 |
1993 | 8,625 | September 2, 1994 |
1994 | 8,955 | June 8, 1995 |
1995 | 9,385 | June 3, 1996 |
1996 | 9,645 | July 1, 1997 |
1997 | 9,655 | July 1, 1998 |
1998 | 9,360 | July 1, 1999 |
1999 | 9,265 | July 1, 2000 |
2000 | 9,265 | July 1, 2001 |
2001 | 9,205 | July 1, 2002 |
2002 | 9,075 | July 1, 2003 |
2003 | 9,385 | July 1, 2004 |
2004 | 10,065 | July 1, 2005 |
2005 | 10,725 | July 1, 2006 |
2006 | 11,115 | July 1, 2007 |
2007 | 11,455 | July 1, 2008 |
2008 | 11,905 | July 1, 2009 |
2009 | 12,195 | July 1, 2010 |
2010 | 12,275 | July 1, 2011 |
2011 | 12,475 | July 1, 2012 |
2012 | 12,615 | July 1, 2013 |
2013 | 12,745 | July 1, 2014 |
2014 | 12,735 | July 1, 2015 |
2015 | 12,475 | July 1, 2016 |
2016 | 12,236 | July 1, 2017 |
2017 | 12,056 | July 1, 2018 |
2018 | 12,376 | July 1, 2019 |
2019 | 12,536 | July 1, 2020 |
2020 | 12,696 | July 1, 2021 |
2021 | 13,205 | July 1, 2022 |
2022 | 13,845 | July 1, 2023 |
2023 | 14,005 | July 1, 2024 |
A country is a distinct part of the world, such as a state, nation, or other political entity. When referring to a specific polity, the term "country" may refer to a sovereign state, states with limited recognition, constituent country, or a dependent territory. Most sovereign states, but not all countries, are members of the United Nations. There is no universal agreement on the number of "countries" in the world since several states have disputed sovereignty status, limited recognition and a number of non-sovereign entities are commonly considered countries.
The Netherlands Antilles, also known as the Dutch Antilles, was a constituent Caribbean country of the Kingdom of the Netherlands consisting of the islands of Saba, Sint Eustatius, and Sint Maarten in the Lesser Antilles, and Aruba, Curaçao, and Bonaire in the Leeward Antilles. The country came into being in 1954 as the autonomous successor of the Dutch colony of Curaçao and Dependencies, and it was dissolved in 2010, when like Aruba in 1986, Sint Maarten and Curaçao gained status of constituent countries within the Kingdom of the Netherlands, and Saba, Sint Eustatius, and Bonaire gained status of special municipality of Netherlands as the Caribbean Netherlands. The neighboring Dutch colony of Surinam in continental South America, did not become part of the Netherlands Antilles but became a separate autonomous country in 1954. All the territories that belonged to the Netherlands Antilles remain part of the kingdom today, although the legal status of each differs. As a group they are still commonly called the Dutch Caribbean, regardless of their legal status. People from this former territory continue to be called Antilleans in the Netherlands.
The Netherlands Antilles was an autonomous Caribbean country within the Kingdom of the Netherlands, which was formally dissolved in 2010.
Curaçao, officially the Country of Curaçao, is a constituent island country within the Kingdom of the Netherlands in the southern Caribbean Sea, specifically the Dutch Caribbean region, about 65 km (40 mi) north of Venezuela.
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The category of newly industrialized country (NIC), newly industrialized economy (NIE) or middle income country is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than that of other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society.
The SSS islands, locally also known as the Windward Islands, is a collective term for the three territories of the Dutch Caribbean that are located within the Leeward Islands group of the Lesser Antilles in the Caribbean Sea. In order of population size, they are: Sint Maarten, Sint Eustatius, and Saba. In some contexts, the term is also used to refer to the entire island of Saint Martin, alongside Sint Eustatius and Saba.
The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from non-resident by residents, minus factor income paid by residents to non-resident.
An emerging market is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with smaller, riskier, or more illiquid capital markets than "emerging". As of 2006, the economies of China and India are considered to be the largest emerging markets. According to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. Emerging market economies’ share of global PPP-adjusted GDP has risen from 27 percent in 1960 to around 53 percent by 2013. The ten largest emerging economies by nominal GDP are 4 of the 9 BRICS countries along with Mexico, South Korea, Indonesia, Turkey, Saudi Arabia, and Poland. The inclusion of South Korea, Poland, and sometimes Taiwan are questionable given they are no longer considered emerging markets by the IMF and World Bank If we ignore those three, the top ten would include Argentina and Thailand.
The Netherlands Antillean guilder is the currency of Curaçao and Sint Maarten, which until 2010 formed the Netherlands Antilles along with Bonaire, Saba, and Sint Eustatius. It is subdivided into 100 cents. The guilder was replaced on 1 January 2011 on the islands of Bonaire, Saba and Sint Eustatius by the United States dollar.
The Central Bank of Curaçao and Sint Maarten is the central bank for the Netherlands Antillean guilder and administers the monetary policy of Curaçao and Sint Maarten. The bank dates to 1828 making it the oldest surviving central bank in the Americas.
Sint Maarten is a constituent country of the Kingdom of the Netherlands located in the Caribbean region of North America. With a population of 58,477 as of June 2023 on an area of 34 km2 (13 sq mi), it encompasses the southern 44% of the divided island of Saint Martin, while the northern 56% of the island constitutes the French overseas collectivity of Saint Martin. Sint Maarten's capital is Philipsburg. Collectively, Sint Maarten and the other Dutch islands in the Caribbean are often called the Dutch Caribbean.
The following outline is provided as an overview of and topical guide to the Netherlands Antilles:
The following is an alphabetical list of topics related to the former nation of the Netherlands Antilles.
The Caribbean guilder is a planned currency of Curaçao and Sint Maarten, two constituent countries of the Netherlands, officially slated for introduction in 2025. It is divided into 100 cents. The Caribbean guilder is set to replace the Netherlands Antillean guilder (ANG) at par and be pegged to the U.S. dollar. The currency has an official launch scheduled for 31 March 2025 and will become the sole legal tender in the countries after 30 June 2025.
The economy of Curaçao is a high income economy, as defined by the World Bank. The island has a well-developed infrastructure with strong tourism and financial services sectors. Shipping, international trade, oil refining, and other activities related to the port of Willemstad also make a significant contribution to the economy.