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Developed country

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"Industrial nation" redirects here. For the magazine, seeIndustrialnation.
Not to be confused withDeveloping country.
For the investing classification, seeDeveloped market.

Developed countries (IMF)
Developing countries(IMF)
Least developed countries(UN)
Data unavailable

World map showing country classifications per theIMF[1]and theUN[2](last updated April 2023). "Developed economies" according to this classification scheme are shown in blue. The map does not include classifications by the World Bank.

Adeveloped country,oradvanced country,[3][4]is asovereign statethat has a highquality of life,developed economy,and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are thegross domestic product(GDP),gross national product(GNP), theper capita income,level of industrialization, amount of widespread infrastructure and general standard of living.[5]Which criteria are to be used and which countries can be classified as being developed are subjects of debate. Different definitions of developed countries are provided by theInternational Monetary Fundand theWorld Bank;moreover,HDI rankingis used to reflect the composite index of life expectancy, education, and income per capita. In2023,40 countries fit all four criteria, while an additional 19 countries fit three out of four.

Developed countries have generally more advancedpost-industrialeconomies, meaning theservice sectorprovides more wealth than theindustrial sector.They are contrasted withdeveloping countries,which are in the process ofindustrialisationor are pre-industrial and almost entirelyagrarian,some of which might fall into the category ofLeast Developed Countries.As of 2023,advanced economies comprise 57.3% of global GDP based onnominal valuesand 41.1% of global GDP based onpurchasing-power parity(PPP) according to theIMF.[6]

Definition and criteria

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Economic classification of the world's countries and territories by UN Trade and Development: developed economies are highlighted in blue.[7][8]

Economic criteria have tended to dominate discussions. One such criterion is the income per capita; countries with the highgross domestic product(GDP) per capita would thus be described as developed countries. Another economic criterion isindustrialisation;countries in which thetertiaryandquaternary sectors of industrydominate would thus be described as developed. More recently, another measure, theHuman Development Index(HDI), which combines an economic measure, national income, with other measures, indices for life expectancy and education has become prominent. This criterion would define developed countries as those with a very high (HDI) rating. The index, however, does not take into account several factors, such as thenet wealth per capitaor the relativequality of goodsin a country. This situation tends to lower the ranking of some of the most advanced countries, such as theG7members and others.[9][10]

According to theUnited Nations Statistics Division:

There is no established convention for the designation of "developed" and "developing" countries or areas in theUnited Nationssystem.[11]

And it notes that:

The designations "developed" and "developing" are intended for statistical convenience and do not necessarily express a judgement about the stage reached by a particular country or area in the development process.[12]

Nevertheless, theUN Trade and Developmentconsiders that this categorization can continue to be applied:

The developed economies broadly comprise Northern America and Europe, Israel, Japan, the Republic of Korea, Australia, and New Zealand.[7]

Similar terms

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See also:Global North and Global South

Terms linked to the conceptdeveloped countryinclude "advanced country", "industrialized country", "more developed country" (MDC), "more economically developed country" (MEDC), "Global Northcountry ","first worldcountry ", and" post-industrial country ". The term industrialized country may be somewhat ambiguous, asindustrialisationis an ongoing process that is hard to define. The first industrialized country was theUnited Kingdom,followed byBelgium.Later it spread further toGermany,United States,Franceand otherWestern Europeancountries. According to someeconomistssuch asJeffrey Sachs,however, the current divide between the developed anddeveloping worldis largely a phenomenon of the 20th century.[13]

Mathis Wackernagelcalls the binary labeling of countries as "neither descriptive nor explanatory. It is merely a thoughtless and destructive endorsement of GDP fetish. In reality, there are not two types of countries, but over 200 countries, all faced with the same laws of nature, yet each with unique features."[14]

A 2021 analysis proposes the termemergedto describe markets, economies, or countries that have graduated fromemerging marketstatus, but have not yet reached the level equivalent to developed countries.[15]Multinational corporations from these emerging markets present unique patterns of overseas expansion and knowledge acquisition from foreign countries.

Economy lists by various criteria

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Human Development Index (HDI)

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Main articles:Human Development IndexandList of countries by Human Development Index
World map
The world map representing Human Development Index categories (based on 2022 data, published in 2024)
  • Very high
  • High
  • Medium
  • Low
  • No data
World map
World map of countries or territories by Human Development Index scores in increments of 0.050 (based on 2022 data, published in 2024)
  • ≥ 0.950
  • 0.900–0.950
  • 0.850–0.899
  • 0.800–0.849
  • 0.750–0.799
  • 0.700–0.749
  • 0.650–0.699
  • 0.600–0.649
  • 0.550–0.599
  • 0.500–0.549
  • 0.450–0.499
  • 0.400–0.449
  • ≤ 0.399
  • Data unavailable

The UN HDI is a statistical measure that gauges an economy's level of human development. While there is a strong correlation between having a high HDI score and being a prosperous economy, the UN points out that the HDI accounts for more than income or productivity. Unlike GDP per capita or per capita income, the HDI takes into account how income is turned "into education and health opportunities and therefore into higher levels of human development."

Since 1990,Norway(2001–2006, 2009–2019),Japan(1990–1991 and 1993),Canada(1992 and 1994–2000) andIceland(2007–2008) have had the highest HDI score.

The following countries in the year 2022 are considered to be of "very high human development":[16]

Rank Δ Country or territory HDI %

annual growth

(2010-2022)

1 Steady Switzerland 0.967 Increase0.24%
2 Decrease(1) Norway 0.966 Increase0.25%
3 Steady Iceland 0.959 Increase0.28%
4 Increase(2) Hong Kong 0.956 Increase0.38%
5 Increase(1) Denmark 0.952 Increase0.35%
Steady Sweden Increase0.38%
7 Increase(8) Ireland 0.950 Increase0.38%
Decrease(3) Germany Increase0.19%
9 Decrease(1) Singapore 0.949 Increase0.25%
10 Increase(1) Netherlands 0.946 Increase0.26%
Decrease(1) Australia Increase0.20%
12 Increase(2) Liechtenstein 0.942 Increase0.23%
Increase(3) Belgium Increase0.26%
Steady Finland Increase0.27%
15 Increase(3) United Kingdom 0.940 Increase0.24%
16 Decrease(7) New Zealand 0.939 Increase0.13%
17 Increase(19) United Arab Emirates 0.937 Increase1.04%
18 Decrease(5) Canada 0.935 Increase0.22%
19 Increase(3) South Korea 0.929 Increase0.36%
20 Decrease(1) Luxembourg 0.927 Increase0.14%
Decrease(5) United States Increase0.10%
22 Increase(1) Slovenia 0.926 Increase0.33%
Decrease(1) Austria Increase0.21%
24 Decrease(4) Japan 0.920 Increase0.16%
25 Decrease(1) Israel 0.915 Increase0.26%
Increase(3) Malta Increase0.50%
27 Steady Spain 0.911 Increase0.40%
28 Decrease(3) France 0.910 Increase0.28%
29 Increase(3) Cyprus 0.907 Increase0.45%
30 Steady Italy 0.906 Increase0.24%
31 Decrease(2) Estonia 0.899 Increase0.33%
32 Decrease(6) Czech Republic 0.895 Increase0.22%
33 Decrease(3) Greece 0.893 Increase0.18%
34 Increase(3) Bahrain 0.888 Increase0.80%
35 Increase(3) Andorra 0.884 Increase0.20%
36 Decrease(2) Poland 0.881 Increase0.35%
37 Increase(2) Latvia 0.879 Increase0.51%
Decrease(2) Lithuania Increase0.32%
39 Increase(6) Croatia 0.878 Increase0.53%
40 Steady Qatar 0.875 Increase0.45%
Increase(6) Saudi Arabia Increase0.70%
42 Steady Portugal 0.874 Increase0.42%
43 Decrease(10) San Marino 0.867 Decrease0.32%
44 Steady Chile 0.860 Increase0.47%
45 Increase(9) Turkey 0.855 Increase1.10%
Decrease(5) Slovakia Increase0.14%
47 Steady Hungary 0.851 Increase0.22%
48 Decrease(6) Argentina 0.849 Increase0.15%
49 Steady Kuwait 0.847 Increase0.36%
50 Increase(1) Montenegro 0.844 Increase0.38%
51 Decrease(2) Saint Kitts and Nevis 0.838 Increase0.49%
52 Increase(8) Uruguay 0.830 Increase0.47%
53 Increase(3) Romania 0.827 Increase0.14%
54 Increase(1) Antigua and Barbuda 0.826 Increase0.18%
55 Decrease(7) Brunei 0.823 Decrease0.02%
56 Decrease(3) Russia 0.821 Increase0.25%
57 Increase(3) Bahamas 0.820 Increase0.21%
Increase(5) Panama Increase0.47%
59 Decrease(7) Oman 0.819 Increase0.22%
60 Decrease(3) Trinidad and Tobago 0.814 Increase0.30%
Increase(4) Georgia Increase0.54%
62 Increase(2) Barbados 0.809 Increase0.18%
63 Increase(6) Malaysia 0.807 Increase0.41%
64 Increase(5) Costa Rica 0.806 Increase0.39%
65 Increase(3) Serbia 0.805 Increase0.39%
66 Increase(6) Thailand 0.803 Increase0.65%
67 Decrease(1) Seychelles 0.802 Increase0.30%
Decrease(4) Kazakhstan Increase0.38%
69 Decrease(11) Belarus 0.801 Increase0.12%

WESPdeveloped economies

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According to theUnited Nations Department of Economic and Social Affairs'World Economic Situation and Prospectsreport, the following 37 countries are classified as "developed economies" as of January 2024:[17]

31 countries in Europe:

two countries in Northern America:

four countries in Asia and the Pacific:

World Bank high-income economies

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High-income economies of the world as classified by the World Bank, 2023.

According to theWorld Bank,the following 85 sovereign states and territories across are classified as"high income" economies,having a nominal GDP per capita in excess of $14,005 as of 2024:[18]

Unsovereign Territories are denoted with an asterisk (*).

Development Assistance Committee members

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See also:Development Assistance Committee
Member nations of theDevelopment Assistance Committee

There are 29OECDmember countries and theEuropean Union—in theDevelopment Assistance Committee(DAC),[19]a group of the world's major donor countries that discusses issues surroundingdevelopment aidandpoverty reductionindeveloping countries.[20]The following OECD member countries are DAC members:

23 countries in Europe:

two countries in the Americas:

two countries in Asia:

two countries in Oceania:

IMF advanced economies

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Countries described as Advanced Economies by the IMF

According to theInternational Monetary Fund,41 countries and territories are officially listed as "advanced economies",[1][21]with the addition of 7microstatesand dependencies modified by theCIAwhich were omitted from the IMF version:[22]

29 countries and dependencies inEuropeclassified by the IMF, 6 others given by the CIA:

Plusd

seven countries and territories inAsia:

three countries and territories in theAmericasclassified by the IMF, one territory given by the CIA:

two countries inOceania:

dThe CIA has modified an older version of the IMF's list of 38 Advanced Economies, noting that the IMF's Advanced Economies list "would presumably also cover the following nine smaller countries of Andorra, Bermuda, Faroe Islands, Guernsey, Holy See, Jersey, Liechtenstein, Monaco, and San Marino[...]". San Marino (2012) and Andorra (2021) were later included in the IMF's list.[22]

Paris Club members

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Permanent members of theParis Club

There are 22 permanent members in theParis Club(French:Club de Paris), a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.

15 countries in Europe:

three countries in the Americas:

three countries in Asia:

one country in Oceania:

Comparative table (2024)

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A comparison among the developed countries in the world

Comparative table of countries with a "very high" human development (0.800 or higher), according toUNDP;"advanced" economies, according to theIMF;"high income" economies, according to theWorld Bank.

Developed countries
Countries HDI[23] IMF[24] WB[25]
2023
Croatia Yes since 2007 Yes since 2023 Yes since 2017
2021
San Marino Yes since 2021 Yes since 2012 Yes since 2000
2020
Andorra Yes since 2003 Yes since 2020 Yes since 1990
2016
Latvia Yes since 2005 Yes since 2014 Yes since 2012
2015
Lithuania Yes since 2005 Yes since 2015 Yes since 2012
2013
Greece Yes since 2001 Yes since 1989[26] Yes since 1996
2012
Estonia Yes since 2003 Yes since 2011 Yes since 2006
2011
Slovakia Yes since 2006 Yes since 2009 Yes since 2007
2009
Czech Republic Yes since 2001 Yes since 2009 Yes since 2006
2008
Malta Yes since 2003 Yes since 2008 Yes since 2002
Liechtenstein Yes since 2000 Yes since 2008 Yes since 1990
Monaco Yes before 1990[27] Yes since 2008 Yes before 1990
2007
Slovenia Yes since 1998 Yes since 2007 Yes since 1997
Portugal Yes since 2005 Yes since 1989[26] Yes since 1994
2006
Israel Yes since 1991 Yes since 1997[28] Yes since 1987
South Korea Yes since 1999 Yes since 1997[28] Yes since 2001
2003
New Zealand Yes before 1990 Yes since 1945 Yes since 1987
2002
Cyprus Yes since 2001 Yes since 2001 Yes since 1988
Taiwan N/A[Note 1] Yes since 1997[28] Yes since 1987
2001
Spain Yes since 1995 Yes since 1945 Yes since 1987
1999
Singapore Yes since 1999 Yes since 1997[28] Yes since 1987
Finland Yes since 1994 Yes since 1945 Yes since 1987
United Kingdom Yes since 1992 Yes since 1945 Yes since 1987
1998
Ireland Yes since 1996 Yes since 1945 Yes since 1987
Iceland Yes before 1990 Yes since 1945 Yes since 1987
Sweden Yes before 1990 Yes since 1945 Yes since 1987
France Yes since 1993 Yes since 1945 Yes since 1987
1997
Australia Yes before 1990 Yes since 1945 Yes since 1987
Belgium Yes before 1990 Yes since 1945 Yes since 1987
Canada Yes before 1990 Yes since 1945 Yes since 1987
1996
Italy Yes since 1995 Yes since 1945 Yes since 1987
Austria Yes since 1992 Yes since 1945 Yes since 1987
Germany Yes before 1990 Yes since 1945 Yes since 1987
Japan Yes before 1990 Yes since 1945 Yes since 1987
1995
Netherlands Yes before 1990 Yes since 1945 Yes since 1987
1992
Luxembourg Yes since 1992 Yes since 1945 Yes since 1987
1991
Denmark Yes since 1991 Yes since 1945 Yes since 1987
1987
United States Yes before 1990 Yes since 1945 Yes since 1987
Norway Yes before 1990 Yes since 1945 Yes since 1987
Switzerland Yes before 1990 Yes since 1945 Yes since 1987
In process
Countries HDI[23] IMF[24] WB[25]
Russia Yes since 2013 No Yes since 2023
Uruguay Yes since 2014 No Yes since 2012
Chile Yes since 2007 No Yes since 2012
Trinidad and Tobago Yes since 2021 No Yes since 2006
Romania Yes since 2013 No Yes since 2021
Panama Yes since 2019 No Yes since 2021
Bahamas Yes since 2016 No Yes since 1987
Hungary Yes since 2005 No Yes since 2014
Poland Yes since 2003 No Yes since 2009
Kuwait Yes since 2014 No Yes since 1987
Bahrain Yes since 2012 No Yes since 2001
Oman Yes since 2012 No Yes since 2007
Saudi Arabia Yes since 2010 No Yes since 2004
United Arab Emirates Yes since 2004 No Yes since 1987
Brunei Yes since 1999 No Yes since 1990
Qatar Yes since 1996 No Yes since 1987
Saint Kitts and Nevis Yes since 2011 No Yes since 2012
Seychelles Yes since 2022 No Yes since 2014
Antigua and Barbuda Yes since 2007 No Yes since 2012
Other recognitions
Countries HDI[23] IMF[24] WB[25]
Serbia Yes since 2019 No No
Costa Rica Yes since 2019 No No
Mauritius Yes since 2019 No No
Argentina Yes since 2006 No No
Montenegro Yes since 2013 No No
Kazakhstan Yes since 2015 No No
Malaysia Yes since 2016 No No
Turkey Yes since 2015 No No
Georgia Yes since 2019 No No
Belarus Yes since 2012 No No
Barbados Yes since 2016 No Yes since 2006
Bulgaria No No Yes since 2023
Guyana No No Yes since 2022
Thailand Yes since 2021 No No
Nauru No No Yes since 2019

See also

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Notes

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  1. ^TheHDI annual reportcompiled by theUNDPdoes not include Taiwan because it is no longer a UN member state, and is neither included as part of the People's Republic of China by the UNDP when calculating data for China.[29]Taiwan's Statistical Bureaucalculated its HDI to be 0.926 based on UNDP's 2010 methodology,[30][31]which would place Taiwan well within the group of "Very high human development" at 19th globally in 2021 within the 2022 UNDP report.[32][33]

References

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  1. ^ab"World Economic and Financial Surveys World Economic Outlook Database—WEO Groups and Aggregates Information".International Monetary Fund.Archivedfrom the original on 3 March 2023.Retrieved2 June2022.
  2. ^Least Developed CountriesArchived17 May 2011 at theWayback Machine(2018 listArchived21 December 2019 at theWayback Machine)
  3. ^"Fiscal Policy and Inclusive Growth in Advanced Countries: Their Experience and Implications for Asia"(PDF).adb.org.Asian Development Bank.December 2014.Archived(PDF)from the original on 26 July 2021.Retrieved8 July2021.
  4. ^"Advanced Countries Will Benefit Most from Progress in Technology, with Lesser Benefits to Other Nations".rand.org.RAND Corporation.1 June 2006.Archivedfrom the original on 21 August 2021.Retrieved8 July2021.
  5. ^Developed Economy DefinitionArchived22 March 2016 at theWayback Machine.Investopedia (16 April 2010). Retrieved 12 July 2013.
  6. ^International Monetary Fund."World Economic Outlook Database, April 2023".International Monetary Fund.Archivedfrom the original on 13 April 2023.Retrieved30 April2023.
  7. ^ab"UNCTADstat - Classifications".Archivedfrom the original on 6 October 2022.Retrieved30 September2022.
  8. ^"Classifications - UNCTAD Handbook of Statistics 2023".unctad.org.
  9. ^The Courier.Commission of the European Communities. 1994.Archivedfrom the original on 15 March 2020.Retrieved20 January2021.
  10. ^"Human development index".Economics Help.Archivedfrom the original on 17 December 2020.Retrieved23 September2018.
  11. ^"Millennium Development Indicators: World and regional groupings".United Nations Statistics Division.2003. Note b.Archivedfrom the original on 10 February 2005.Retrieved13 May2017.
  12. ^"Standard Country and Area Codes Classifications (M49): Developed Regions".United Nations Statistics Division.Archivedfrom the original on 11 July 2017.Retrieved13 May2017.
  13. ^Sachs, Jeffrey (2005).The End of Poverty.New York, New York: The Penguin Press.ISBN1-59420-045-9.
  14. ^Wackernagel, Mathis;Beyers, Bert (2019).Ecological Footprint: Managing Our Biocapacity Budget.Gabriola Island, BC, Canada: New Society Publishers. p. 132.ISBN978-0-86571-911-8.Archivedfrom the original on 30 December 2019.Retrieved20 January2021.
  15. ^Lee, Eun Su; Liu, Wei; Yang, Jing Yu (23 September 2021)."Neither developed nor emerging: Dual paths for outward FDI and home country innovation in emerged market MNCs".International Business Review.32(2): 101925.doi:10.1016/j.ibusrev.2021.101925.ISSN0969-5931.S2CID244268711.
  16. ^Human Development Report 2023-24: Breaking the gridlock: Reimagining cooperation in a polarized world.United Nations Development Programme. 13 March 2024.Archivedfrom the original on 17 March 2024.Retrieved16 March2024.
  17. ^"World Economic Situation and Prospects 2024"(PDF).United Nations Department of Economic and Social Affairs. p. 135.
  18. ^"World Bank Country and Lending Groups".World Bank.Retrieved25 July2024.
  19. ^Peer reviews of DAC members – Organisation for Economic Co-operation and DevelopmentArchived27 May 2013 at theWayback Machine.Oecd.org. Retrieved 22 October 2013.
  20. ^DAC website >> "The DAC in Dates"Archived15 February 2010 at theWayback Machine,On the DAC's self-description, see the introductory letter. On other events, refer to the relevant section by date.
  21. ^"World Economic and Financial Surveys World Economic Outlook Database—All countries/Advanced economies (40 countries)".International Monetary Fund.Archivedfrom the original on 7 November 2021.Retrieved13 October2021.
  22. ^abCIA (2008)."Appendix B. International Organizations and Groups".World Factbook.Archived fromthe originalon 9 April 2008.Retrieved10 April2008.
  23. ^abcUnited Nations (13 March 2024).Human Development Report 2023/2024 Breaking the gridlock: Reimaging cooperation in a polarized world.United Nations Development Programme. pp. 279–282.ISBN978-9-210-03102-8.Archived from the original on 4 May 2024.Retrieved5 May2024.{{cite book}}:CS1 maint: bot: original URL status unknown (link)
  24. ^abc"World Economic Outlook Database – Changes to the Database".International Monetary Fund.Archivedfrom the original on 29 December 2017.Retrieved7 February2019.
  25. ^abc"World Bank Country and Lending Groups – World Bank Data Help Desk".datahelpdesk.worldbank.org.Archivedfrom the original on 28 October 2019.Retrieved20 January2021.
  26. ^ab"World Economic Outlook, October 1989"(PDF).International Monetary Fund.p. 12.Archived(PDF)from the original on 28 June 2020.Retrieved8 May2020.
  27. ^"Monaco Has The World's Highest Score on the U.N. Human Development Index".Monaco Estate.29 November 2021. Archived fromthe originalon 8 July 2023.Retrieved8 June2023.
  28. ^abcdInternational Monetary Fund Annual Report 1997.Annual Report of the Executive Board. International Monetary Fund. October 1997.doi:10.5089/9781451945102.011.ISBN9781451945102.Archivedfrom the original on 25 June 2020.Retrieved8 May2020.
  29. ^Nations, United."Data Reader's Guide".Archivedfrom the original on 28 October 2022.Retrieved27 October2022.
  30. ^"What is the human development index (HDI)? How are relevant data queried?"(PDF).Archived(PDF)from the original on 12 June 2021.Retrieved26 October2022.
  31. ^"Nhân loại phát triển chỉ sổ"(PDF)(in Chinese). Archived fromthe original(PDF)on 14 April 2021.Retrieved26 October2022.
  32. ^"National Statistics, Republic of China (Taiwan) - Statistical Tables".eng.stat.gov.tw.Archivedfrom the original on 16 October 2022.Retrieved27 October2022.
  33. ^"Quốc tình thống kế thông báo"(PDF)(in Chinese).Archived(PDF)from the original on 11 February 2023.Retrieved26 October2022.
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