World Bank Report: Brunei placed in high-income economy slot

In the latest of the World Bank report, it has been stated that Brunei maintains its high-income economy status.

According to the World Bank report, Brunei has been kept in a slot of high-income economy with a gross national income (GNI) per capita of 32,230 U.S. dollars. It is good news for the country as the estimate is second highest in Southeast Asia after Singapore which stands with 59,590 U.S. dollars.

The world economies are divided into four income groups-low, lower-middle, upper-middle, and high-income countries by the World Bank.

On a statistical and definitional level, the GNI includes one country’s gross domestic product (GDP) and earnings received from overseas sources, like remittance and the GNI per capita is one country’s annual income divided by population.

Countries with a GNI per capita of 12,536 U.S. dollars or more are considered high income, while upper-middle income countries have a GNI per capita of 4,046 U.S. dollars to 12,535 U.S. dollars.

Brunei’s GNI per capita significantly exceeds the high-income mark to drive in the good news for the country.

Photo Credit : https://commons.wikimedia.org/wiki/File:Gadong_BSB_Brunei.jpg

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