Jordan Advances to Upper-Middle-Income Status in World Bank Income Classification

Jordan: Jordan has officially moved from the lower-middle-income category to the upper-middle-income category in the World Bank's annual income classification update for fiscal year 2027, reflecting improved economic indicators and updated national statistical data. According to Jordan News Agency, Jordan's gross national income (GNI) per capita, calculated using the World Bank's Atlas method, reached US$5,260, surpassing the US$4,636 threshold for upper-middle-income economies. The World Bank said Jordan's reclassification was driven by several factors, most notably the rebasing of the country's national accounts carried out by the Department of Statistics. The revision included updating the base year and expanding statistical coverage, indicating that the size of Jordan's economy is around 10 percent larger than previously estimated. The bank also noted that Jordan's economy has continued to record steady growth, supported by the resilience of key economic sectors, expanding exports, and the maintenance of macroeconomic stability despite ongoing regional challenges. Jordan's new classification places it among upper-middle-income economies, a development regarded as a positive indicator of the country's economic performance and growing confidence in its economy. The upgrade could also gradually affect the nature of financing available to the Kingdom from some international financial institutions, with greater access to financing instruments tailored to higher-income economies. The World Bank updates its income classifications annually based on GNI per capita calculated using the Atlas method. The classifications serve as an international benchmark used by development and financial institutions in shaping lending policies, development assistance, and cooperation programs with countries.