China’s Belt And Road Initiative: All Participating Countries By Income Group

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Op/Ed by Chris Devonshire-Ellis 


 

China’s Belt & Road Initiative has evolved from being purely about infrastructure build projects to about supply chain development. Many of the 2,500 projects that China has assisted with either financing, or building, or both are now coming to fruition. As I explained in the example of Sri Lanka’s Colombo Port City the completed infrastructure asset is now giving rise to new opportunities for global investors. These range from the appreciation of property builds, to new facilities for numerous service industries. In the Colombo Port City example, these range from the daily requirements of office workers and commuters, to businesses themselves – Colombo is highly likely to develop as a lower cost back-office centre to compete with nearby Singapore as an example.

Assessing where appropriate opportunities lie and the relevant domestic consumer strength in each market requires an understanding of the local dynamics. In the chart below we list all countries (as at October 2020) that have signed MoU with China concerning the Belt & Road Initiative. We explained what these MoU typically contain in the article Understanding China’s Belt & Road MoU referencing an example. More recently, data released by China’s State Information Centre shows that China now imports more goods from countries that have signed up to the Belt & Road Initiative than it exports.

Investors looking at supplying China from BRI countries, and investing in them directly may use the following data to assess the regional income levels of each. These have been taken from the World Bank rankings in terms of categorization of each countries field income group, and are globally spread as follows:

 

Belt & Road Countries By Income Group – October 2020
Country Region Income Group
Afghanistan South Asia Low income
Albania Europe & Central Asia Upper middle income
Algeria Middle East & North Africa Upper middle income
Angola Sub-Saharan Africa Lower middle income
Antigua and Barbuda Latin America & Caribbean High income
Armenia Europe & Central Asia Upper middle income
Austria Europe & Central Asia High income
Azerbaijan Europe & Central Asia Upper middle income
Bahrain Middle East & North Africa High income
Bangladesh South Asia Lower middle income
Barbados Latin America & Caribbean High income
Belarus Europe & Central Asia Upper middle income
Benin Sub-Saharan Africa Low income
Bolivia Latin America & Caribbean Lower middle income
Bosnia and Herzegovina Europe & Central Asia Upper middle income
Brunei Darussalam East Asia & Pacific High income
Bulgaria Europe & Central Asia Upper middle income
Burundi Sub-Saharan Africa Low income
Cabo Verde Sub-Saharan Africa Lower middle income
Cambodia East Asia & Pacific Lower middle income
Cameroon Sub-Saharan Africa Lower middle income
Chad Sub-Saharan Africa Low income
Chile Latin America & Caribbean High income
China East Asia & Pacific Upper middle income
Cook Islands East Asia & Pacific
Comoros Sub-Saharan Africa Low income
Congo, Rep. Sub-Saharan Africa Lower middle income
Costa Rica Latin America & Caribbean Upper middle income
Côte d’Ivoire Sub-Saharan Africa Lower middle income
Croatia Europe & Central Asia High income
Cuba Latin America & Caribbean Upper middle income
Cyprus Europe & Central Asia High income
Czech Republic Europe & Central Asia High income
Djibouti Middle East & North Africa Lower middle income
Dominica Latin America & Caribbean Upper middle income
Ecuador Latin America & Caribbean Upper middle income
Egypt, Arab Rep. Middle East & North Africa Lower middle income
El Salvador Latin America & Caribbean Lower middle income
Equatorial Guinea Sub-Saharan Africa Upper middle income
Estonia Europe & Central Asia High income
Ethiopia Sub-Saharan Africa Low income
Fiji East Asia & Pacific Upper middle income
Gabon Sub-Saharan Africa Upper middle income
Gambia, The Sub-Saharan Africa Low income
Georgia Europe & Central Asia Lower middle income
Ghana Sub-Saharan Africa Lower middle income
Greece Europe & Central Asia High income
Grenada Latin America & Caribbean Upper middle income
Guinea Sub-Saharan Africa Low income
Guyana Latin America & Caribbean Upper middle income
Hungary Europe & Central Asia High income
Indonesia East Asia & Pacific Lower middle income
Iran, Islamic Rep. Middle East & North Africa Upper middle income
Iraq Middle East & North Africa Upper middle income
Italy Europe & Central Asia High income
Jamaica Latin America & Caribbean Upper middle income
Kazakhstan Europe & Central Asia Upper middle income
Kenya Sub-Saharan Africa Lower middle income
Kiribati East Asia & Pacific Lower middle income
Korea, Rep. East Asia & Pacific High income
Kuwait Middle East & North Africa High income
Kyrgyz Republic Europe & Central Asia Lower middle income
Lao PDR East Asia & Pacific Lower middle income
Latvia Europe & Central Asia High income
Lebanon Middle East & North Africa Upper middle income
Lesotho Sub-Saharan Africa Lower middle income
Liberia Sub-Saharan Africa Low income
Libya Middle East & North Africa Upper middle income
Lithuania Europe & Central Asia High income
Luxembourg Europe & Central Asia High income
Madagascar Sub-Saharan Africa Low income
Malaysia East Asia & Pacific Upper middle income
Maldives South Asia Upper middle income
Mali Sub-Saharan Africa Low income
Malta Middle East & North Africa High income
Mauritania Sub-Saharan Africa Lower middle income
Micronesia, Fed. Sts. East Asia & Pacific Lower middle income
Moldova Europe & Central Asia Lower middle income
Mongolia East Asia & Pacific Lower middle income
Montenegro Europe & Central Asia Upper middle income
Morocco Middle East & North Africa Lower middle income
Mozambique Sub-Saharan Africa Low income
Myanmar East Asia & Pacific Lower middle income
Namibia Sub-Saharan Africa Upper middle income
Nepal South Asia Low income
New Zealand East Asia & Pacific High income
Niger Sub-Saharan Africa Low income
Nigeria Sub-Saharan Africa Lower middle income
Niue East Asia & Pacific
North Macedonia Europe & Central Asia Upper middle income
Oman Middle East & North Africa High income
Pakistan South Asia Lower middle income
Panama Latin America & Caribbean High income
Papua New Guinea East Asia & Pacific Lower middle income
Peru Latin America & Caribbean Upper middle income
Philippines East Asia & Pacific Lower middle income
Poland Europe & Central Asia High income
Portugal Europe & Central Asia High income
Qatar Middle East & North Africa High income
Romania Europe & Central Asia Upper middle income
Russian Federation Europe & Central Asia Upper middle income
Rwanda Sub-Saharan Africa Low income
Samoa East Asia & Pacific Upper middle income
Saudi Arabia Middle East & North Africa High income
Senegal Sub-Saharan Africa Low income
Serbia Europe & Central Asia Upper middle income
Seychelles Sub-Saharan Africa High income
Sierra Leone Sub-Saharan Africa Low income
Singapore East Asia & Pacific High income
Slovak Republic Europe & Central Asia High income
Slovenia Europe & Central Asia High income
Solomon Islands East Asia & Pacific Lower middle income
Somalia Sub-Saharan Africa Low income
South Africa Sub-Saharan Africa Upper middle income
South Sudan Sub-Saharan Africa Low income
Sri Lanka South Asia Lower middle income
Sudan Sub-Saharan Africa Lower middle income
Suriname Latin America & Caribbean Upper middle income
Tajikistan Europe & Central Asia Low income
Tanzania Sub-Saharan Africa Low income
Thailand East Asia & Pacific Upper middle income
Timor-Leste East Asia & Pacific Lower middle income
Togo Sub-Saharan Africa Low income
Tonga East Asia & Pacific Upper middle income
Trinidad and Tobago Latin America & Caribbean High income
Tunisia Middle East & North Africa Lower middle income
Turkey Europe & Central Asia Upper middle income
Uganda Sub-Saharan Africa Low income
Ukraine Europe & Central Asia Lower middle income
United Arab Emirates Middle East & North Africa High income
Uruguay Latin America & Caribbean High income
Uzbekistan Europe & Central Asia Lower middle income
Vanuatu East Asia & Pacific Lower middle income
Venezuela, RB Latin America & Caribbean Upper middle income
Vietnam East Asia & Pacific Lower middle income
Yemen, Rep. Middle East & North Africa Low income
Zambia Sub-Saharan Africa Lower middle income
Zimbabwe Sub-Saharan Africa Low income

 

The dynamics of the countries listed should be of relevance to investors looking to capitalize on the infrastructure China has provided in each. For matching these up with details of specific projects and analyzing where the opportunities are, please contact our firm.

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About Us

Silk Road Briefing is written by Dezan Shira & Associates. The firm has 28 offices throughout Asia, and assists foreign investors into the region. For strategic advisory and business intelligence issues please contact the firm at silkroad@dezshira.com or visit www.dezshira.com

 

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