WB: Philippines nears upper middle-income status

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March 22, 2026 | 12:00am

MANILA, Philippines — The Philippines is projected to be close to attaining upper middle-income status, according to the World Bank.

In an email, the multilateral lender said the Philippines is projected to be close to the upper middle-income threshold based on current gross national income (GNI) per capita trends.

The clarification was made after the World Bank said in a statement last week that the Philippines’ GNI per capita had reached the threshold for upper middle- income countries.

The World Bank said that its list of new income classification and thresholds will be updated on July 1.

Data released by the World Bank last year showed that the Philippines remained a lower middle-income country, with its GNI per capita reaching $4,470 in 2024.

The World Bank classifies economies with a GNI per capita calculated using the Atlas method of $1,136 to $4,495 in 2024 as lower middle-income countries.

Meanwhile, those with a GNI per capita between $4,496 and $13,935 are classified as upper middle-income economies.

High-income economies are those with a GNI per capita of over $13,935.

GNI per capita measures the economic output per citizen, encompassing both domestic and international earnings.

A higher GNI per capita shows greater economic prosperity and a higher standard of living.

The Philippines has been part of the lower middle-income economy grouping since 1987.