Bangladesh has now joined the league of the lower-middle income countries, with the Gross National Income (GNI) per capita between USD 1,046 to 4,125, the World Bank said.
According to data made public by the Bangladesh Bureau of Statistics (BBS) on May 14, the per capita income in Bangladesh rose from USD 1,190 to 1,314 in 2014-15.
Three other countries, including Kenya, Myanmar, and Tajikistan have also moved up from the low-income category to lower-middle income.
World Bank's Chief Economist and Senior Vice President Kaushik Basu said that it was heartening to see four nations cross over the critical line from the low-income to the lower-middle income category over the last one year, reported Bdnews24.com.
The World Bank revises the income classification of the world's economies every year on July 1, using the World Bank Atlas method.
The new analysis showed that Malawi had the world's lowest reported GNI per capita at USD 250, while Monaco had the highest at more than USD 100,000.