The World Bank collects the most current and accurate development indicators from official and reputable international institutions, which it compiles and tabulates comparatively to assess the development level of different nations, regions as well as the global outlook. These are the World Development Indicators (WDI). The WDI consist of many indicators but they fall in to the following broad categories:
These indicators help access how various nations have succeeded in attaining the millennium development goals adopted by members of the United Nations General Assembly in 2000. These goals are eradicating extreme poverty and hunger, achieving universal primary education, promoting gender equality, reducing child mortality, improving maternal health and combating HIV/AIDS, malaria and other diseases.
The indicators under this category include poverty gap ratio, net enrollment in primary education, ratios of boys to girls in primary, secondary and tertiary schools, infant mortality rate, maternal mortality rate and HIV prevalence among population ages 15-24years.
These indicators give a broader picture of various nations’ progress and trends as regards to human development. They indicate demographic patterns, social protection, sanitation, jobs as well as distribution of income.
The indicators under this category include child malnutrition, under-five mortality, maternal mortality, adolescent fertility, primary education completion, youth literacy, labor force participation, vulnerable employment and unemployment.
The millennium development goals also called for sound environmental management, reversal of environmental degradation and mitigation of the effects of climate change. The indicators under this category show how human activities impact the environment, the level of environmental degradation as well as adoption of appropriate technology.
The indicators under this category include urbanization, water and sanitation, habitat protection and biodiversity, traffic and congestion, loss of forests, fresh water resources, carbon dioxide emissions, electricity production and energy use.
Indicators under this category give a broad picture of the world economy as well as the various individual countries. These indicators measure macroeconomic performance, various aspects of incomes and savings as well as trade and consumption levels.
These indicators include economic growth, balance of payments, adjusted net savings and government finance, growth of consumption and investment as well as rebasing national accounts.
State and Markets
A functional state ensures that economic markets are stable and developing. Such a state also appreciates the important role the private sector plays in development and provides the right environment for the sector to operate efficiently. Indicators in this category assess the performance of governments and their policies, the broader business environment, performance of economic markets and information and science technology.
The indicators under this category include stock markets, public policies and institutions, tax policies, high-technology exports, military expenditure as well as infrastructure.
The world economy is interconnected. Increased movements of people, financial flow and trade have all contributed to this. As nations develop, they also widen their global links thus increasing their economic and risk exposure. These indicators show the size and direction of trade and financial flows and they also assess the impact individual nations’ policies have on the global economy.
The indicators under this category include travel and tourism, foreign direct investment, equity flows, external debt and movement of people.
World Bank’s WDI provide high quality, current and accurate data as regards to global and individual nations’ development. This data helps in monitoring and the comparison of various nations’ development. In addition, the World Bank’s WDI is used by investors, companies, governments, non-governmental organizations as well as many other institutions when making very important trading decisions.