The World Bank has updated its annual country income classification, keeping Paraguay in the upper-middle-income category, with a gross national income (GNI) per capita range between $4,516 and $14,005.
Most South American economies, including Brazil, Argentina, Peru, Colombia, and Ecuador, are also in this same category. Uruguay and Chile are the only nations in the region classified as high-income, above $14,005, while Bolivia remains the sole lower-middle-income country. Venezuela does not have available data for classification.
The World Bank emphasized that this categorization not only reflects a country's level of development but also influences its growth trajectory and its eligibility to receive official development assistance and concessional financing.
The institution's methodology, which uses the Atlas method for monetary conversion, is based on the previous year's GNI per capita and is updated annually on July 1.