Knowing a country's GNI per capita is a good first step toward understanding the country's economic strengths and needs, as well as the general standard of living enjoyed by the average citizen. South Africa is among the top 10 countries in the world for income inequality. Nonetheless, it ranks eighth on the list with an average per capita income of $13,403. Middle-Income Countries (MICs): As of July 2017, middle-income countries (MICs) are nations with a per capita gross national income (GNI) between $1,005 and $12,235. In Africa, ICU beds and personnel trained in critical care are limited to tertiary hospitals, as assessed in the Republic of The Gambia; therefore, mortality associated with COVID-19 is likely to exceed the reported case fatality rate of 2.3%. The lower-middle-income nations have GNI per capita of $1,026 to $4,035. The GNI per capita is the dollar value of a country's final income in a year, divided by its population. The Bank Group’s MTS emphasizes deeper engagement with middle-income countries (MICs), by positioning the institution as their preferred development partner. Despite this fact, South Africa has high rates of unemployment, poverty, and a wide gap between the rich and the poor. It should be reflecting the average before tax income of a country's citizens. The average income is calculated by gross national income and population. The World Bank on Wednesday classified Mauritius as a High Income country while Tanzania and Benin are now considered Lower-middle income countries, classifications that … They are defined as lower middle-income economies - those with a GNI per capita between $1,036 and $4,045; and upper middle-income economies - those with a GNI per capita between $4,046 and $12,535 ().Middle income countries are home to 75% of the world’s population … The smallest budget per capita exists in the Democratic Republic of the Congo. In our comparison over 79 countries, the USA comes 9th with an average income of 65,760 USD. Middle East and North Africa; Southern Africa; Central Africa; East Africa; West Africa; North Africa; Brazil-India-China (BIC) Least Developped Countries (LDC) No LDC; High income non OECD; Upper middle income countries; Lower middle income; Low income countries; Outsize the Franc zone; Franc CFA zone; WAMEU; CEMAC; Country. The world’s Middle Income Countries (MICs) are a diverse group by size, population, and income level. The upper-middle-income group has per capita incomes between $4,038 and $12,475. In this respect, the Bank has developed effective linkages between public/private operations, as well as competitive lending products, backed by high-value knowledge and advisory services. For the current 2021 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,035 or less in 2019; lower middle-income economies are those with a GNI per capita between $1,036 and $4,045; upper middle-income economies are those with a GNI per capita between $4,046 and $12,535; high-income economies are … Methodology. For the current 2016 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,045 or less in 2014; middle-income economies are those with a GNI per capita of more than $1,045 but less than $12,736; high-income economies are those with a GNI per capita of $12,736 or more. Average income around the world The worldwide highest income is earned in Monaco. Finally, low-income countries have GNI per capita of $1,025 per less. 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