Top 25 Developed and Developing Countries - Investopedia

Development Status of the Top 25 Countries by GDP · Australia · Belgium · Brazil · Canada · China · France · Germany · India. Investopedia Economy TableofContents Expand TableofContents WhatIsaDevelopedNation? WhatIsaDevelopingCountry? WhichCountriesHavetheHighestGDPperCapita? WhatDoesHDIMean? DevelopmentStatusoftheTop25CountriesbyGDP It'sdifficulttodeterminehowbesttoquantifythedifferencebetweendevelopedanddevelopingcountries.Althoughgrossdomesticproduct(GDP)isoneofthemostwell-knownvaluesforassessingeconomichealth,severalothermetricscanalsobeusedtogaugeanation'sdevelopment.Whilesomehavethepotentialtobemoreaccuratethanothers,noneofthemareinherentlywrongtouse.Tofurthercomplicatematters,mostcountriesarelarge,complexentitiesthatcan'tbeneatlycategorized.Asaresult,thereareseveralnationsthatexhibitcharacteristicsofmorethanonecategory. Eventheexpertshaveyettoagreeonaconsistentdefinition.Forinstance,theUnitedNations(UN)classifiescountriesaseitherdevelopedeconomies,economiesintransition,ordevelopingeconomies,althoughitdoesn'tspecifyitsbasisforapplyingthesegroupingsotherthanthatthey"reflectbasiceconomiccountryconditions."TheInternationalMonetaryFund(IMF),ontheotherhand,takesseveraldifferentfactorsintoaccountwhendeterminingwhetheranationisanadvancedeconomy,anemergingmarketanddevelopingeconomy,oralow-incomedevelopingcountry.TheWorldBankusesgrossnationalincome(GNI)percapitaforitsmeasurements,andithashasfourdifferentcategories:high-incomeeconomies,uppermiddle-incomeeconomies,lowermiddle-incomeeconomies,andlow-incomeeconomies. Thepurposeofthisarticleistohighlightthedevelopmentstatusofthe25largestcountriesonEarthbyGDP.Thismetricwaschosentobetterillustratehownationsmeetingthetraditionalcriteriaforbeing"wealthy"canstillbeconsidereddeveloping.Thatbeingsaid,countriesonthislisthavebeencategorizedaccordingtotheUN'sstandardsbecauseitsclassificationsystemistheclosesttoourdefinitionsof"developed"and"developing." KeyTakeaways Countriesmaybeclassifiedaseitherdevelopedordevelopingbasedonthegrossdomesticproduct(GDP)orgrossnationalincome(GNI)percapita,thelevelofindustrialization,thegeneralstandardofliving,andtheamountoftechnologicalinfrastructure,amongseveralotherpotentialfactors.AccordingtotheUnitedNations(UN),anation'sdevelopmentstatusisareflectionofits"basiceconomiccountryconditions."Thehumandevelopmentindex(HDI)isametricdevelopedbytheUnitedNationsthat'susedtoassessthesocialandeconomicdevelopmentlevelsofcountriesbasedonlifeexpectancy,educationalattainment,andincome,whichservesasanalternatemeansofassessinganation'sdevelopmentstatus.TheUnitedStateswastherichestdevelopedcountryonEarthin2019,withatotalGDPof$21,433.23billion.ChinawastherichestdevelopingcountryonEarthin2019,withatotalGDPof$14,279.94billion. WhatIsaDevelopedNation? Anationistypicallyconsideredtobe"developed"ifitmeetscertainsocioeconomiccriteria.Insomecases,thiscanbeassimpleashavingasufficientlydevelopedeconomy.Wherethatisn'tadequate,otherqualifierscanincludebutarenotlimitedtoacountry'sGDP/GNIpercapita,itslevelofindustrialization,itsgeneralstandardofliving,and/ortheamountoftechnologicalinfrastructureithas.Thesefactorsaretypicallyinterconnected(i.e.,thelevelofavailabletechnologycanimpacttheamountofGDPacountryiscapableofgenerating,etc.). AccordingtotheUN,in2020,35countrieswereconsidered"developed."AlldevelopedcountrieswerelocatedineitherNorthAmerica,Europe,or"DevelopedAsiaandPacific." Developedcountriestypicallyshareseveralothercharacteristics: Theirbirthanddeathratesarestable.Theydonothaveveryhighbirthratesbecause,thankstoqualitymedicalcareandhighlivingstandards,infantmortalityratesarelow.Familiesdonotfeeltheneedtohavelargenumbersofchildrenduetotheexpectationthatsomewillnotsurvive. Theyhavemorewomenworking.Thesecareer-orientedwomenmayhavechosentohavesmallerfamiliesoreschewhavingchildrenaltogether. Theyuseadisproportionateamountoftheworld'sresources.Indevelopedcountries,morepeopledrivecars,flyonairplanes,andpowertheirhomeswithelectricityandgas.Inhabitantsofdevelopingcountriesoftendonothaveaccesstotechnologiesthatrequiretheuseoftheseresources. Theyhavehigherlevelsofdebt.Nationswithdevelopingeconomiescannotobtainthekindofseeminglybottomlessfinancingthatmoredevelopednationscan. WhatIsaDevelopingCountry? Anationistypicallyconsideredtostillbe"developing"ifitdoesnotmeetthesocioeconomiccriterialistedabove.Simplyput,thesearemostoftencountrieswithalowerincome,anunderdevelopedindustrialbase,alowerstandardofliving,andalackofaccesstomoderntechnology.Asaresult,developingnationsfrequentlyexperiencealackofjobs,food,cleandrinkingwater,education,healthcare,andhousing. AccordingtotheUN,in2020,126countrieswereconsidered"developing."AlldevelopingcountrieswerelocatedineitherAfrica,Asia,orLatinAmericaandtheCaribbean. Duetodefinitionaldiscrepancies,countriessuchasMexico,Greece,andTurkeyareconsidereddevelopedbysomeorganizationsanddevelopingbyothers. Developmentstatusdetermineswhichcountrieshavearighttoreceivedevelopmentaidundertherulesofamultilateralorbilateralagency,suchastheWorldTradeOrganization(WTO).Thisislikelytheprimaryreasonforwhytherearesomanyvarieddefinitionsof"developed"vs."developing,"aseachorganizationhasdifferentqualificationsforwhatshouldconstitutethelatterinordertoreceivetheirassistance. Thisisalsowhyeventheterminologyisinconsistent,asthisbinaryisofteninsufficientforcategorizinglarge,complexterritories.Forinstance,theWorldBankannouncedin2016thatitwouldnolongerbedistinguishingbetweendevelopingcountriesanddevelopedcountries,duetothetermsnolongerbeingconsideredrelevant. WhichCountriesHavetheHighestGDPperCapita? GDPrepresentsthetotalmonetaryormarketvalueofallthefinishedgoodsandservicesproducedwithinacountry'sbordersinaspecifictimeperiod.Thecalculationofanation'sGDPencompassesallprivateandpublicconsumption,governmentoutlays,investments,additionstoprivateinventories,paid-inconstructioncosts,andtheforeignbalanceoftrade. Whileusefulforacquiringasnapshotoftheworld'seconomicpowerhouses,thismetricbyitselfistypicallyinsufficient.Everycountryisobviouslygoingtohaveadifferentpopulation,whichmeansthatlookingexclusivelyatGDPcandistortthetruthand/orbesoobviousastobemeaningless.OfcourseanationaslargeasChina,withatotalpopulationof1.4billionpeople,wouldhavealargerGDPthanamuchsmallercountrylikeIreland,withitstotalpopulationof4.9million. GDPpercapitaisamuchmorerelevantstatisticforbetterillustratinghowahypotheticalaveragecitizenmightexperienceanation'seconomicoutput.GDPpercapita,atallyofallthegoodsandservicesproducedinacountryinoneyear(asexpressedinU.S.dollars),isausefulmetricfordistinguishingdevelopedcountriesfromdevelopingones.GDPpercapitaiscalculatedbydividingacountry'sGDPbyitstotalpopulation. Forexample,thepopulationofChinaisapproximately285timeslargerthanthepopulationofIreland.YetthetypicalIrishperson($78,779)isnearlyeighttimesricherthantheirChinesecounterpart($10,216.60),despitethefactthattheircountryissomuchsmaller.ThecountrieswiththehighestGDPpercapitaareoftenthosewithanunusualconcentrationofwealth. WhatDoesHDIMean? Anothermeasuringdevice,thehumandevelopmentindex(HDI),wasdevelopedbytheUNasametrictoassessthesocialandeconomicdevelopmentlevelsofagivencountry.HDIquantifieslifeexpectancy,educationalattainment,andincomeintoastandardizednumberbetweenzeroandone;theclosertoone,themoredevelopedthecountry.Nominimumrequirementexistsfordevelopedstatus,butmostdevelopedcountrieshaveHDIsof0.8orhigher. ThelifeexpectancyaspectoftheHDIiscalculatedatthetimeofbirth,whichisequaltozerowhenlifeexpectancyis20andequaltoonewhenlifeexpectancyis85.Educationismeasuredaccordingtothemeanyearsofschoolingforresidentsofacountryandtheexpectedyearsofschoolingthatachildhasattheaverageageforstartingschool.Finally,themetricchosentorepresentthestandardoflivingisGNI(grossnationalincome)percapitabasedonpurchasingpowerparity(PPP). Thisindexisusefulforexaminingtheimpactofpolicychoicesmadebyeachnation.Forexample,iftwocountrieshaveapproximatelythesameGNIpercapitabutwildlydifferentHDIscores,thenitstandstoreasonthatthesedisparitiescouldstemfrompoliciesregardinglifeexpectancy,educationalattainment,oranotherfactorunrelatedtoeconomichealth. It'simportanttoremembernosetminimumsormaximumsexistforthesemetrics.Economistslookatthetotalityofacountry'ssituationbeforerenderingjudgment,andtheydonotalwaysagreeonacountry'sdevelopmentstatus. DevelopmentStatusoftheTop25CountriesbyGDP Hereisouranalysisofthedevelopmentstatusofthetop25countriesbyGDPasof2019,organizedalphabetically.Ofthistotal,14countriesareconsidered"developed,"10areconsidered"developing,"andoneisconsidered"intransition." Australia GDP(2019):$1,396.57billionPopulation(2019):25.36millionGDPperCapita(2019):$55,057.2HDI(2020):0.944 Australiaisadevelopedcountry. TheLandDownUnderhaswidespreadindustrializationandprovidesqualityhealthcareforthemajorityofitscitizens.Australiansalsoenjoyahigherqualityoflifethansomeothercountries;accordingtotheOrganizationforEconomicCooperationandDevelopment(OECD),citizensonaveragegradedtheircontentmentwithlifeas7.3outof10,whichisreasonablybetterthatthe6.5globalaverage.AustraliaisoneofthewealthiestAsia–Pacificnationsandhasenjoyedover20yearsofeconomicgrowth.Australiahasahighaveragelifeexpectancyof85years,muchofwhichcanbeattributedtoitsexcellenthealthcaresystem.Thecountry'sinfantmortalityrateisthreeper1,000livebirths,oneofthelowestratesintheworld,asof2019. Belgium GDP(2019):$533.10billionPopulation(2019):11.50millionGDPperCapita(2019):$46,345.4HDI(2020):0.931 Belgiumisadevelopedcountry. TheKingdomofBelgiumisthefirstamongseveralEuropeancountriesonthislisttohaveahigherqualityoflife(6.9outof10),lifeexpectancy(81.6yearsfrombirth),andeducationlength(19.8yearsofschooling)thantherespectiveworldwideaverages.At69.74%,theservicessectoraccountedforthelargestportionofthecountry'sGDPin2019.Belgiumlacksanabundanceofnaturalresources,makingitheavilyreliantonimportsofrawmaterials.However,givenitscentralgeographiclocation,highlydevelopedtransportnetwork,anddiversifiedindustrialandcommercialbase,thecountryiswellsuitedtoactasamajorexporterofmanufacturedgoods.Asof2019,thecountry'saveragelifeexpectancywas82yearsfrombirth,whileitsinfantmortalityratewas10deathsper1,000livebirths. Brazil GDP(2019):$1,839.76billionPopulation(2019):211.05millionGDPperCapita(2019):$8,717.2HDI(2020):0.765 Brazilisadevelopingcountry. Thoughithasseveralcharacteristicsofadevelopednation,includingthelargesteconomyinSouthAmericaorCentralAmerica,BrazilisstillconsideredadevelopingcountryduetoitslowerGDPpercapita,higherinfantmortalityrate,andotherfactors.Itshighbirthrate,at14birthsper1,000peoplein2019,isalsoacommoncharacteristicofadevelopingcountry.Severalfactorscontributetoallofthesemetrics,includinglackofcleanwater;limitedaccesstoadequatehealthcare,particularlyinruralareas;abysmalhousingconditionsinmanyregions;andsubstandarddiets.ABrazilian'saveragelifeexpectancy,at76yearssincebirthasof2019,rankshigherthanthatofsomeotherdevelopingcountries,thoughit'sjustbarelyabovetheglobalaverageof75years. Canada GDP(2019):$1,736.42billionPopulation(2019):37.59millionGDPperCapita(2019):$46,189.7HDI(2020):0.929 Canadaisadevelopedcountry. Asthe10th-largestworldeconomyonthebasisofGDP,Canadahasadiverseeconomicbase.Ithasawealthofnaturalresources,includingoil,gas,andcoal.Assuch,thecountryisabletosupportitsownenergyneedsaswellasexportnaturalresourcestoothercountries.Inspiteofthisfact,Canadaisalsoaworldleaderintheproductionanduseofrenewableenergysources,whichprovideapproximately18.9%ofthecountry'soverallenergysupply,whilemovingwaterspecificallyaccountsfor59.3%ofitselectricity.Canada'sproximitytotheUnitedStatesandafavorableexchangeratehavealsocontributedtoastrongmanufacturingclimateinthecountry.Canadiansenjoyuniversalhealthcarecoverage,withallresidentshavingaccesstofreemedicalcarethroughagovernment-providedprogram.Asof2019,thecountry'saveragelifeexpectancywasasolid82years,whileitsinfantmortalityratewas10deathsper1,000livebirths. China GDP(2019):$14,279.94billionPopulation(2019):1,397.71millionGDPperCapita(2019):$10,216.6HDI(2020):0.761 Chinaisadevelopingcountry. Despitehavingtheworld'ssecond-largesteconomyandthesinglelargestmilitary,Chinaisstillnotclassifiedasadevelopedcountrybythecriteriaofmostorganizations.InadditiontohavingoneofthelowestGDPspercapitaonthislist,anotherattributeindicatingChinaisstilldevelopingisitsdependanceonagriculture,althoughthishasbeentrendingdownwardovertime.In2020,7.7%ofChina'soverallGDPwasderivedfromagriculture.Asof2019,China'saveragelifeexpectancywas77years,anditsinfantmortalityratewas11per1,000livebirths.Althoughtheseratesaren'texceptionallyhigh,theyarenoticeablyworsethanmostothercountrieswithtrillionsofdollarsinoverallwealth. France GDP(2019):$2,715.52billionPopulation(2019):67.05millionGDPperCapita(2019):$40,496.4HDI(2020):0.901 Franceisadevelopedcountry. TheFrenchRepublicisoneoftheworld'seconomicpowerhouses.Asof2019,Francehastheseventh-largesteconomybyGDP.Thecountrybenefitsfromadiverseeconomy,includingtourism,manufacturing,andpharmaceuticals.TheFrenchgovernmenthaspartiallyorfullyprivatizedmanyprominentcompanies,thoughitmaintainsastrongpresenceinitspower,publictransport,anddefensesectors.Asof2019,Frenchcitizensenjoyedahigherthanaveragelifeexpectancyof83yearssincebirthandalowinfantmortalityrateoffourdeathsper1,000livebirths.TheFrenchhealthcaresystemcombinesuniversalaccesstocarewithasubstantialamountoffreedomforpatients,withsurveysshowingthatcitizensareoverallsatisfiedwiththeircountry'ssystem.Additionally,in2020,unemploymentinFrancesatat8.34%andhasbeentrendingdownward. Germany GDP(2019):$3,861.12billionPopulation(2019):83.09millionGDPperCapita(2019):$46,467.5HDI(2020):0.947 Germanyisadevelopedcountry. Drivenbyitshighlyskilledlaborforce,GermanyisEurope'sstrongesteconomy,anditisthefourth-largesteconomyintheworld.Thenationisknownfordeliveringworld-classqualityproducts,includingmachinery,motorvehicles,electronics,andpharmaceuticals.In2019,GermanywassecondonlytoChinaastheworld'slargestsurpluseconomy,withitsexportedproductsexceedingitsimportedproducts.Asof2019,Germanyhadalifeexpectancyof81yearssincebirthaswellasaninfantmortalityrateofonlythreedeathsper1,000livebirths.Germancitizensenjoyaccesstouniversalhealthcarecoverage.AllGermansmustbelongtoanot-for-profitsicknessfundthatcoversmostnecessarymedicalproceduresandmedications.Just0.3%ofGermany'spopulationreportedanunmetneedformedicalcarein2017. India GDP(2019):$2,868.93billionPopulation(2019):1,366.42millionGDPperCapita(2019):$2,099.6HDI(2020):0.645 Indiaisadevelopingcountry. AlthoughIndiaisanexceptionallywealthycountry(rankedfifthintermsofoverallGDP),likeChina,itshighpopulationresultsinaratherlowGDPpercapita.TheRepublicofIndiaisconsideredbothanewlyindustrializednationandoneofthefastestdevelopingcountriesonEarth.However,thecountrycontinuestostrugglewithissueslikewidespreadpoverty,poorwaterandsanitation,andoverpopulation.Indiahostsadiverseeconomy,rangingfromtraditionalfarmingtocontemporaryagriculture,andhandicraftstoawiderangeofindustrialproducts.Thankstoalargeandwell-educatedEnglish-speakingpopulation,IndiaisamajorexporterofITservices,businessoutsourcingservices,andsoftwareworkers.Asof2019,Indiahadalifeexpectancyof70yearssincebirthaswellasaninfantmortalityrateof28deathsper1,000livebirths. Indonesia GDP(2019):$1,119.19billionPopulation(2019):270.62millionGDPperCapita(2019):$4,135.6HDI(2020):0.718 Indonesiaisadevelopingcountry. TheRepublicofIndonesiaistheworld'smostpopulousMuslim-majoritycountryandSoutheastAsia'slargesteconomy.Thenation'skeyexportsincluderubber,animalandvegetablefat,mineralfuels,machinery,electricalmachinery,andmechanicalapplianceparts.AuniqueaspectofIndonesia'squalityoflifeisthatthecountrylieswithinthePacificRingofFire,whichisresponsiblefor90%ofearthquakesandhas75%oftheworld'sactivevolcanos.Inadditiontonaturaldisasterhazards,thenationalsofaceschallengesmorecommontodevelopingcountries,with24millionIndonesianslackingsafewater,38millionlackingaccesstoimprovedsanitationfacilities,and19.4millionbeingunabletomeettheirdietaryrequirements.Asof2019,Indonesiahadalifeexpectancyof72yearssincebirth,aswellasaninfantmortalityrateof20deathsper1,000livebirths. Italy GDP(2019):$2,003.58billionPopulation(2019):60.30millionGDPperCapita(2019):$33,225.6HDI(2020):0.892 Italyisadevelopedcountry. Italy'smanufacturingindustryisverywelldeveloped,anditisrankedseventhonEarthaccordingtotheWorldEconomicForum.Inparticular,Italyisknownforproducinghigh-qualityluxuryproducts,suchasfashionaccessories,expensivecars,andfoodproducts.Nearly71%ofItaly'smorethan25millionworkersareemployedintheservicessector,whilejustover3.5%workinagriculture,whichisastrongindicatorthatthisnationisdeveloped.Italyaloneaccountsforapproximately2.28%oftheplanet'sentirewealth,rankedeighthintheworldforoverallGDP.Thepresent-daycommercialbankingindustryhaditsbeginninginItaly,andtodaythenation'slargestfinancialservicescompany,IntesaSanpaolo,isregularlyrankedontheFortune500list.Asof2019,thecountry'saveragelifeexpectancywas83yearsfrombirth,whileitsinfantmortalityratewas7deathsper1,000livebirths. Japan GDP(2019):$5,081.77billionPopulation(2019):126.26millionGDPperCapita(2019):$40,246.9HDI(2020):0.919 Japanisadevelopedcountry. Despiteitssmallersizecomparedtoothereconomicallyhealthycountries,suchasGermanyorFrance,JapanisthethirdwealthiestnationonEarthintermsofoverallGDP.Morethan72%ofthenation'sworkforcewasintheservicessectorin2019,whilejustover3%wasinagriculture.Thearchipelagoisheavilydependentonimportsofnaturalresources,anditistheworld'slargestnetbuyeroffoodproducts,thelargestimporterofliquefiednaturalgas(LNG),andthethird-largestcoalimporter.Asof2019,Japanhasanaveragelifeexpectancyof84yearsfrombirthandanexceptionallylowinfantmortalityrateofjusttwodeathsper1,000livebirths. Mexico GDP(2019):$1,268.87billionPopulation(2019):127.57millionGDPperCapita(2019):$9,946HDI(2020):0.779 Mexicoisadevelopingcountry. Mexico'sdevelopmentstatusisdespitethefactthatitexceedsthemajorityofitspeersinthedevelopingworldonmosteconomicandquality-of-lifemetrics.Infact,asof2019,Mexico'seconomywasn'theavilyreliantonagriculture,atjust3.47%,whileitsservicesandindustrysectorsweremuchlarger.Variousotherfactorscomecloseto,butdon'tquitehit,acceptablelevelsfordeveloped-nationstatus.Alifeexpectancyof75yearssincebirth,asof2019,ranksMexicohigherthanmostdevelopingcountries,butitstillfallsbelowitsNorthAmericanneighbors.Thestoryisthesamefortheinfantmortalityrate,whichwas12per1,000livebirthsthatsameyear.Inaddition,Mexicoisplaguedbylargeswathsofpoverty,lackofqualityhealthcare,andlimitedaccesstocleanwater. TheNetherlands GDP(2019):$907.05billionPopulation(2019):17.34millionGDPperCapita(2019):$52,295HDI(2020):0.944 TheNetherlandsisadevelopedcountry. Thisnationdemonstratesrelativestrengthacrossallthemetricsandcombinesarobusteconomywithahighstandardoflivingforthemajorityofitsresidents.In2017,theDutchwerethefifthlowestpopulationatriskofpovertyorsocialexclusionintheEuropeanUnion.Asof2019,theNetherlandshadalifeexpectancyof82yearssincebirthaswellasaninfantmortalityrateoffourdeathsper1,000livebirths.AccordingtotheOECD,theNetherlandsfareswellinprovidingitscitizenswiththetoolsnecessarytobuildahighqualityoflife.Althoughthecountryisbelowaverageinenvironmentalquality,thehealthandlifeexpectancyforresidentsareinlinewithotherdevelopedcountries.TheNetherlandsalsoranksveryhighlyintermsofwork/lifebalance,withfewerthan0.4%ofresidentsreportingthattheyworklonghoursincomparisonwiththeglobalaverageof11%. Nigeria GDP(2019):$448.12billionPopulation(2019):200.96millionGDPperCapita(2019):$2,229.9HDI(2020):0.539 Nigeriaisadevelopingcountry. TheFederalRepublicofNigeria'sGDPisfartoolow,asarethecountry'slivingstandards,forittobeconsideredadevelopednation.DespitehavingthelargesteconomyinAfrica,industrializationinNigerialagsbehindmostothermajoreconomies.Thecountryalsosuffersfromalowliteracyrate—atroughly62%asof2018—andanoverburdenedhealthcaresystem.Povertyiswidespread,atarateof40.1%in2019,andlargeswathsofthecountrylackaccesstocleanwater.In2019,theinfantmortalityrateinNigeriawasahigh74per1,000livebirths,whilethelifeexpectancyratewasalow55yearssincebirth. Poland GDP(2019):$595.86billionPopulation(2019):37.96millionGDPperCapita(2019):$15,694.7HDI(2020):0.88 Polandisadevelopedcountry. TheRepublicofPoland,asof2019,isthesixthlargestcountryintheEUbyGDP.ASovietsatellitestateuntil1989,thecountryhasnearlycompleteditstransformationintoademocraticandmarket-orientedeconomy.Thankstoitsstrongeconomy,PolandisexpectedtoquicklyreboundoncetheCOVID-19pandemiccomestoanend.Likemanydevelopednations,Polandoffersbothfreehealthcareandhighereducationforitscitizens.Asof2019,thecountry'sinfantmortalityratewasjustfourper1,000livebirths,whilethelifeexpectancyratewas78yearssincebirth.Thecountryalsohas16propertiesrecognizedontheUNESCOWorldHeritageList,onlyoneofwhichisn'taculturalsite. Russia GDP(2019):$1,699.88billionPopulation(2019):144.41millionGDPperCapita(2019):$11,585HDI(2020):0.824 Russiaisacountryintransition. Russiaisnotcurrentlyclassifiedasadevelopedcountry,thoughitoncereignedalongsidetheUnitedStatesasaworldsuperpower.Thecountry'seconomyfellapartwiththe1991implosionoftheSovietUnion.Recently,lowoilprices,thecostofRussia'sillegalannexationofCrimea,andeffortstobolsteritsmilitaryhavestrainedthecountry'sfinances.Povertyiswidespread(at13%ofpopulation,themajorityofwhomarechildren)andlivingstandardsarelow(withRussiancitizensonaveragegivingit a5.8outof10).Asistypicalofanon-developedcountry,theexportationofnaturalresourcesfuelsmuchofRussia'seconomy.Russiaisborderlineatbestonmostdeveloped-countrymetrics.Itsinfantmortalityrateisfiveper1,000,whilelifeexpectancyis73yearssincebirth,belowtheglobalaverageof75. SaudiArabia GDP(2019):$792.97billionPopulation(2019):34.27millionGDPperCapita(2019):$23,139.8HDI(2020):0.854 SaudiArabiaisadevelopingcountry. Onapurelymonetarylevel,theKingdomofSaudiArabiaisrathersuccessfulwhencomparedtootherdevelopingcountries.ItwasthelargesteconomyintheMiddleEastintermsofGDPin2019;however,itseconomylacksdiversification.Over85%ofgovernmentrevenueisderivedfromoilexports,makingSaudiArabiatheworld'slargestexporterofpetroleum.Additionally,accordingtoa2020AmnestyInternationalreport,thegovernmenthashasbeenheavilycriticizedfornumeroushumanrightsabuses,withnearlyallknownSaudiArabianhumanrightsdefenderswithinthecountryhavingbeendetainedorimprisoned.Asof2021,threewomen'srightsactivistshavebeenconditionallyreleasedandreaminsubjecttorestrictionsontravelingandspeakingfreely.Asof2019,SaudiArabianshadanaveragelifeexpectancyof75yearssincebirthaswellasaninfantmortalityrateofsixdeathsper1,000livebirths. SouthKorea GDP(2019):$1,646.74billionPopulation(2019):51.71millionGDPperCapita(2019):$31,846.2HDI(2020):0.916 SouthKoreaisadevelopingcountry. ThecountryhasastrongGDPandoffersitscitizenswidespreadaccesstoqualityhealthcareandhighereducation.Followingseveraldecadesofrapideconomicgrowthandglobalintegration,theRepublicofKoreahasbecomeahigh-technologyandindustrializednation,withitsmostimportantsectorsbeingelectronics,telecommunications,automobileproduction,chemicals,shipbuilding,andsteel.Thatsaid,thecountryisreliantonexportsandiscurrentlyfacingothermajorchallenges,suchasanagingpopulationandlowworkerproductivity.Lifeexpectancyin2019wasanimpressive83yearssincebirth.Theinfantmortalityratewasratherlowthatsameyear,atjustthreeper1,000livebirths. Spain GDP(2019):$1,393.49billionPopulation(2019):47.13millionGDPperCapita(2019):$29,564.7HDI(2020):0.904 Spainisadevelopedcountry. NearlyallorganizationsthatanalyzedevelopmentstatusclassifySpainassuch.ThecountryhasastrongGDP,aliteracyrateofnearly100%,andahealthcaresystemthat'soneofthebestintheworld.Sincereturningtoademocraticsystemin1975,Spainhasbecometheeurozone'sfourth-largesteconomy,withadiverseassortmentofindustriesincludingmanufacturing,financialservices,pharmaceuticals,textilesandapparel,footwear,chemicals,andtourism.Spain'sinfantmortalityandlifeexpectancynumbersareexcellent;anestimatedthreeinfantsdiedper1,000livebirthsin2019,andtheaverageSpaniardlivedtobe83yearsfrombirthduringthesameyear. Sweden GDP(2019):$530.88billionPopulation(2019):10.28millionGDPperCapita(2019):$51,648HDI(2020):0.945 Swedenisadevelopedcountry. Swedenisoneofthemosthighlydevelopedpost-industrialsocietiesintheworld.Sweden'slifeexpectancy—nowatnearly83yearssincebirth—increasedbyeightyearsbetween1980and2019,whileinfantmortalityhasdroppedfromsevendeathsper1,000livebirthstotwoduringthesameperiod.AlthoughSwedenhasthehighestincometaxrateintheworld,thecountryisalsoknownforhavingahighqualityoflifeandalowunemploymentrateofroughly9%in2021.Additionally,Swedishcitizenshavefreeaccesstohealthcareandhighereducation.TheaverageSwedeenjoysnearly20yearsofeducation.Asasociety,Swedenplacesgreatimportanceonenvironmentalsustainabilityaswell. Switzerland GDP(2019):$703.08billionPopulation(2019):8.57millionGDPperCapita(2019):$81,989.4HDI(2020):0.955 Switzerlandisadevelopedcountry. AccordingtotheWorldBank,ofcountrieslistedfor2019,SwitzerlandhadthefourthhighestGDPpercapitaandthehighestofanycountryonthislist.Thiscanbeattributedtothecountry'shighlyskilledlaborforce,whichhelpscompensateforitssmallerpopulation.Thecountry'slargesteconomicsectorsarefinancialservices,precisionmanufacturing,metals,pharmaceuticals,chemicals,andelectronics.Switzerlandhasauniversalhealthcaresystemwhilealsopreservingaprivatemarketplace.Asof2019,thecountry'saveragelifeexpectancywasanexcellent84years,whileitsinfantmortalityratewasanunusuallyhigh10per1,000livebirths. Thailand GDP(2019):$543.55billionPopulation(2019):69.62millionGDPperCapita(2019):$7,806.7HDI(2020):0.777 Thailandisadevelopingcountry. TheKingdomofThailandisthesecond-largesteconomyinSoutheastAsia.Thailandhasafree-marketeconomy,witharelativelywell-developedinfrastructure.Abouttwo-thirdsofthecountry'sGDPisderivedfromexportsofelectronics,agriculturalcommodities,automobilesandparts,processedfoods,andothergoods.Overthelastfourdecades,thecountryhasmovedfromalow-incometoanupper-incomecountrybymakingsubstantialprogressinsocialandeconomicdevelopment.Sincebecomingaconstitutionalmonarchyin1932,ithasexperienced19militarycoups.Morerecently,pro-democracyprotestshavebeenongoingsinceFeb.2020. Turkey GDP(2019):$761.42billionPopulation(2019):83.43millionGDPperCapita(2019):$9,126.6HDI(2020):0.82 Turkeyisadevelopingcountry. Turkeyisperhapsthebestexampleofacountrythatstraddlesthelinebetweendevelopedanddeveloping. Inthepast,theUNhasclassifieditasadevelopedcountry.Today,mostgroups,includingTurkeyitself,agreeonthecountry'sstatusasadevelopingnation.ConfoundingtheissueisTurkey'sGDP,infantmortalityrate,andlifeexpectancy,allofwhichhoverinthegrayarea.Itsinfantmortalityrateat28per1,000livebirths,asof2019,islowerthansomeotherdevelopingcountries,butit'sstillnotablyhigh.Conversely,thecountry'slifeexpectancyof72yearsfrombirthishigherthaninsomeplaces,butbelowtheglobalaverageof75. UnitedKingdom GDP(2019):$2,829.11billionPopulation(2019):66.84millionGDPperCapita(2019):$42,328.9HDI(2020):0.932 TheUnitedKingdomisadevelopedcountry. TheUnitedKingdomofGreatBritainandNorthernIrelandwasthesixthlargestcountrybyGDPin2019,withGreatBritainbeingthefirstindustrializedcountryinhistory.GDPgrowthisheavilyreliantontheservicessector,particularlybanking,insurance,andbusinessservices,whereaslargeoilandnaturalgasreservesareshrinking.In2016,BritishcitizensvotedinfavorofdepartingfromtheEuropeanUnion—adecisionthatbecameknownasBrexit.TheU.K.formallylefttheEUonJan.31,2020,althoughtherewasn'taapropertradeagreementbetweenthetwoentitiesuntilaprovisionalonewasapprovedbytheEuropeanParliamentonApril28,2021.Asof2019,thecountry'saveragelifeexpectancywasasolid81years,whileitsinfantmortalityratewasanunusuallyhigh11per1,000livebirths. UnitedStates GDP(2019):$21,433.23billionPopulation(2019):328.24millionGDPperCapita(2019):$65,297.5HDI(2020):0.926 TheUnitedStatesisadevelopedcountry. Asof2019,theUnitedStateswasthewealthiestcountryonEarthintermsoftotalGDP,whichisnearly16%oftheworld'sentirewealth.TheU.S.isboththelargestgoodsimporterandthesecond-largestexporter,makingittheworld'slargesttradingnation.Additionally,asof2021,Americahasthethird-largestmilitaryintermsofpersonnel—secondonlytoIndia.However,despiteitswealthandhighHDIscore,theU.S.hasalsobeenheavilycriticizedfortraitsmorecommonlyseenindevelopingnations,suchasitbeingtheonlydevelopedcountrywithoutuniversalhealthcare,havingapovertyratehigherthananyotherindustrializednation,anditsinfrastructurebeinginsevereneedofrepairandoverhaul.Asof2019,thecountry'saveragelifeexpectancywas79yearsfrombirth,whileitsinfantmortalityratewas11deathsper1,000livebirths. 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Amatureeconomyistheeconomyofanationwithastablepopulationandslowingeconomicgrowth. more CelticTigerDefinition CelticTigerreferstothecountryofIrelandduringitseconomicboomyearsbetween1995andaround2007. more StandardofLivingDefinition Standardoflivingreferstothequantityandqualityofmaterialgoodsandservicesavailabletoagivenpopulation. more ThemeaningofthetermThirdWorld ThirdWorldisanoutdatedandoffensivephrasehistoricallyusedtodescribeeconomicallydevelopingnations. more