New business density in Upper middle income
Upper middle income: New business density was 9.26 new registrations per 1,000 people ages 15-64 in 2024. ▲ Rising
Latest (2024)
9.26 new registrations per 1,000 people ages 15-64
Change on year
down 19.2%
Rank
6th
of 45 groups
All-time high
11.46 new registrations per 1,000 people ages 15-64
in 2023
All-time low
2.84 new registrations per 1,000 people ages 15-64
in 2008
Years of data
17
2008–2024
New business density in Upper middle income, 2008–2024
Source: Entrepreneurship Database, World Bank (WB). Measured in new registrations per 1,000 people ages 15-64.
Analysis
The most recent figure for new business density in Upper middle income is 9.26 new registrations per 1,000 people ages 15-64, measured in 2024.
The figure is down 19.2% on the previous year and up 43.6% over ten years.
Over the whole period, new business density in Upper middle income peaked at 11.46 new registrations per 1,000 people ages 15-64 in 2023 and was at its lowest, 2.84 new registrations per 1,000 people ages 15-64, in 2008.
Upper middle income ranks 6th of 45 groups on this measure, in the top quarter.
The long-run direction has been consistently rising across the 17 years of available data.
New business density in Upper middle income, year by year
| Year | new registrations per 1,000 people ages 15-64 | Change |
|---|---|---|
| 2008 | 2.84 new registrations per 1,000 people ages 15-64 | — |
| 2009 | 3.41 new registrations per 1,000 people ages 15-64 | +20.2% |
| 2010 | 3.88 new registrations per 1,000 people ages 15-64 | +13.8% |
| 2011 | 4.05 new registrations per 1,000 people ages 15-64 | +4.3% |
| 2012 | 4.07 new registrations per 1,000 people ages 15-64 | +0.6% |
| 2013 | 4.45 new registrations per 1,000 people ages 15-64 | +9.4% |
| 2014 | 6.45 new registrations per 1,000 people ages 15-64 | +44.7% |
| 2015 | 7.32 new registrations per 1,000 people ages 15-64 | +13.6% |
| 2016 | 8.26 new registrations per 1,000 people ages 15-64 | +12.8% |
| 2017 | 7.87 new registrations per 1,000 people ages 15-64 | -4.7% |
| 2018 | 8.05 new registrations per 1,000 people ages 15-64 | +2.2% |
| 2019 | 7.7 new registrations per 1,000 people ages 15-64 | -4.3% |
| 2020 | 8.01 new registrations per 1,000 people ages 15-64 | +4.0% |
| 2021 | 10.66 new registrations per 1,000 people ages 15-64 | +33.2% |
| 2022 | 9.05 new registrations per 1,000 people ages 15-64 | -15.1% |
| 2023 | 11.46 new registrations per 1,000 people ages 15-64 | +26.5% |
| 2024 | 9.26 new registrations per 1,000 people ages 15-64 | -19.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.12 new registrations per 1,000 people ages 15-64 | 2.84 new registrations per 1,000 people ages 15-64 | 3.41 new registrations per 1,000 people ages 15-64 | 2 |
| 2010s | 6.21 new registrations per 1,000 people ages 15-64 | 3.88 new registrations per 1,000 people ages 15-64 | 8.26 new registrations per 1,000 people ages 15-64 | 10 |
| 2020s | 9.69 new registrations per 1,000 people ages 15-64 | 8.01 new registrations per 1,000 people ages 15-64 | 11.46 new registrations per 1,000 people ages 15-64 | 5 |
Countries ranked near Upper middle income
- 3 Hong Kong, China 28.85 new registrations per 1,000 people ages 15-64 compare
- 4 Estonia 26.76 new registrations per 1,000 people ages 15-64 compare
- 5 Cape Verde 21.76 new registrations per 1,000 people ages 15-64 compare
- 6 United States Virgin Islands 19.96 new registrations per 1,000 people ages 15-64 compare
- 7 Luxembourg 19.61 new registrations per 1,000 people ages 15-64 compare
- 8 United Kingdom of Great Britain and Northern Ireland 19.19 new registrations per 1,000 people ages 15-64 compare
- 9 Saint Kitts and Nevis 18.72 new registrations per 1,000 people ages 15-64 compare
More private sector data for Upper middle income
- Merchandise trade 42.8% (2025)
- Food imports 8.5% (2024)
- Manufactures imports 59.5% (2024)
- Merchandise imports 6.62 trillion current US$ (2025)
- Food exports 9.5% (2024)
- Manufactures exports 75.8% (2024)
- Merchandise exports 7.67 trillion current US$ (2025)
- Merchandise exports (current US$), per capita 2,493 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.2289 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 6.45 % change on previous year (2025)
Frequently asked questions
- What is new business density in Upper middle income?
- New business density in Upper middle income was 9.26 new registrations per 1,000 people ages 15-64 in 2024, according to Entrepreneurship Database, World Bank (WB).
- What is the highest new business density recorded in Upper middle income?
- The highest recorded value was 11.46 new registrations per 1,000 people ages 15-64 in 2023.
- What is the lowest new business density recorded in Upper middle income?
- The lowest recorded value was 2.84 new registrations per 1,000 people ages 15-64 in 2008.
- How does Upper middle income rank for new business density?
- Upper middle income ranks 6th out of 45 groups with data for 2024.
- Is new business density rising or falling in Upper middle income?
- Over the last ten years it is up 43.6%. The long-run trend across the full record is rising.
- Where does this Upper middle income data come from?
- The figures come from Entrepreneurship Database, World Bank (WB), published as part of New business density (new registrations per 1,000 people ages 15-64). Statizoid updates them automatically from the source API.
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About this data
The number of newly registered firms with limited liability per 1,000 working-age people (ages 15-64) per calendar year.