World Bank promoted Romania in the category of high-income countries, after incorporating the developments in 2019 (per capita income of $12,630), an important aspect for investment rating decisions and for OECD accession negotiations.

Per capita income increased in Romania from $11,290 in 2018.

Along with Romania, Benin, Indonesia, Mauritius, Nauru, Nepal and Tanzania climbed to a higher category. Algeria, Sri Lanka and Sudan have been moved to a lower income category, according to TVR and Mediafax.

The World Bank allocates the world’s economies into four categories of income – low-income, lower-middle-income, upper-middle-income and high-income countries. The rankings are updated every year on July 1.

The changes are made annually because factors such as economic growth, inflation, exchange rates and population growth influence gross national income per capita. Revisions to national accounts data may also affect per capita income.