Bangladesh is now a lower-middle income country with the Gross National Income per capita (GNI) $1,314.
The World Bank, in a press release, made the disclosure on Wednesday.
Lower-middle income countries are those having annual incomes of $1,046 to $4,125.
The per capita income in Bangladesh rose from $1,190 to $1,314, according to Bangladesh Bureau of Statistics (BBS).
Each year on July 1, the World Bank revises the income classification of the world's economies based on estimates of GNI per capita for the previous year.
The World Bank also uses the updated GNI per capita estimates in its operational classification of economies that determines lending eligibility.
“People living in low-income countries continue to fall behind those in the upper per capita GNI brackets, while they earn and consume significantly less than much of the world’s population,” said the global lender.
Kenya, Myanmar, and Tajikistan have improved their positions from low-income category to lower-middle income this year.
“It is heartening to see that over the last one year itself four nations crossed over that critical line from the low-income to the lower-middle income category,” said Kaushik Basu, World Bank Chief Economist and Senior Vice President.
Mongolia and Paraguay move from lower middle-income status to upper middle-income, a group with yearly income levels of $4,126 to $12,735.
Malawi has the world's lowest GNI per capita at $250, while Monaco has the highest, at more than $100,000, according to the latest World Bank Atlas method.
