According to the World Bank, the UAE has maintained its place among the list of countries with the highest per capita income based on the Atlas method.
The UAE ranked seventh in the world in terms of per capita national income, according to the latest World Bank data.
The UAE’s per capita income increased by $10,781 from 2021 to $87,729 in July 2022, based on purchasing power parity in current international dollars.
The international dollar is a virtual currency that is used for evaluating the purchasing power of various countries.
It is based on the US dollar, but it has the same purchasing power as each country’s local currency.
According to the World Bank, the UAE has maintained its place among the list of countries with the highest per capita income based on the Atlas method while also using current US dollar prices.
Using the Atlas method, the World Bank breaks down the world’s economies into four income groups: low, lower middle, upper middle and high.
The categorizations are revised annually depending on the previous fiscal year’s per capita income.
The UAE’s per capita national income in current US dollars rose to $48,950 in 2022 from $43,460 in 2021, surpassing the pre-COVID-19 level of $46,210.
The Atlas method, which was developed in its current form in 1989, is used to express gross national income in US dollars.
source/content: arabnews.com (headline edited)
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The UAE ranked seventh in the world in terms of per capita national income, according to the latest World Bank data. (Shutterstock/File Photo)
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UNITED ARAB EMIRATES (U.A.E)