The three groups that are not "high income" are together referred to as "low and middle income countries" (LMICs). This classification is based on Gross National Income (GNI) per capita (current US$) calculated using the Atlas method. The classification is updated each year on July 1. For example in July 2019 a high income country was defined as one where the Gross National Income (GNI) per capita was more than 12,375 (in current US$); a low income country was one where the GNI per capita was less than 1,026 US$. Historical thresholds are documented.