The Philippines has remained a lower-middle income economy under the latest World Bank (WB) classification, which saw it trailing behind some of its neighbors in Southeast Asia.
Data from the international lending agency showed the Philippines gross national income in 2022 at $3,950.
Calculated using the World Bank Atlas method, for the current 2024 fiscal year, low-income economies are defined as those with a GNI per capita of $1,135 or less in 2022; lower-middle income economies are those with a GNI per capita between $1,136 and $4,465; upper-middle income economies are those with a GNI per capita between $4,466 and $13,845; high-income economies are those with a GNI per capita of $13,845 or more.
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