Brunei retains high-income economy status
Brunei maintained its high-income economy status, according to the World Bank's latest report, Trend reports citing Xinhua.
The World Bank classifications have put Brunei with a gross national income (GNI) per capita of 32,230 U.S. dollars, which is second highest in Southeast Asia after Singapore (59,590 U.S. dollars), local daily the Borneo Bulletin reported on Sunday.
GNI includes one country's gross domestic product (GDP) and earnings received from overseas sources like remittance. The GNI per capita is one country's annual income divided by population.
The World Bank assigns the world's economies to four income groups - low, lower-middle, upper-middle, and high-income countries. 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.