LMIC
Business & Finance abbreviation · Economics
| Stands for | Low- and middle-income countries |
|---|---|
| Categories | Business & Finance |
LMIC stands for Low- and middle-income countries, an economics abbreviation.
Grouping of countries classified by the World Bank as low-income, lower-middle-income or upper-middle-income based on gross national income per capita, used widely in development, health and economic research. It covers most of the world's population.
Example: More than 80 percent of the world's population lives in LMICs, which bear most of the burden of infectious disease.
Usage notes
Usage varies: some reports use LMIC for "lower-middle-income countries" only, so definitions should be checked. The World Bank updates its income thresholds every July. Global health funders frequently target research and programs at LMICs.
Related abbreviations
More economics abbreviations
- HHI – Herfindahl-Hirschman Index
- HICP – Harmonised Index of Consumer Prices
- IS-LM – Investment-saving / liquidity preference-money supply model
- JOLTS – Job Openings and Labor Turnover Survey
- LDC – Least developed country
- LFPR – Labor force participation rate
- MC – Marginal cost
- MFN – Most favored nation
- MMT – Modern monetary theory
- MPC – Monetary Policy Committee
- MPS – Marginal propensity to save
- MR – Marginal revenue