Sri Lanka has moved to the ‘Upper-Middle Income’ category from the ‘Lower-Middle Income’ under a revision to the Gross National Income (GNI) classification thresholds announced by the World Bank on Monday (July 1).
According to the World Bank data, Sri Lanka’s GNI per capita has increased from USD 3,840 in 2017 to USD 4,060 in 2018. As per the new classifications, upper-middle-income economies are defined as those with a GNI per capita between USD 3,996 and USD 12,375.
Low-income economies are those with a GNI per capita of USD 1,025 or less in 2018,
Lower-middle income economies are those with a GNI per capita between USD 1,026 and USD 3,995 and high-income economies are those with a GNI per capita of USD 12,376 or more.