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Developed country
Country with a developed industry and infrastructure

A developed country is a sovereign state with a high quality of life, developed economy, and advanced technology. It is typically measured by indicators such as GDP, per capita income, and industrialization level. Definitions vary, with organizations like the IMF and World Bank using different criteria, including HDI rankings. Developed countries usually have more advanced post-industrial economies, where the service sector dominates over industry. In contrast to developing countries, which are still industrializing or agrarian, advanced economies made up 57.3% of global GDP by nominal value as of 2023. The classification and exact list of developed nations remain topics of debate.

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Definition and criteria

Economic criteria have tended to dominate discussions. One such criterion is the income per capita; countries with the high gross domestic product (GDP) per capita would thus be described as developed countries. Another economic criterion is industrialisation; countries in which the tertiary and quaternary sectors of industry dominate would thus be described as developed. More recently, another measure, the Human 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 the net wealth per capita or the relative quality of goods in a country. This situation tends to lower the ranking of some of the most advanced countries, such as the G7 members and others.56

According to the United Nations Statistics Division:

There is no established convention for the designation of "developed" and "developing" countries or areas in the United Nations system.7

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.8

Nevertheless, the UN Trade and Development considers 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.9

Similar terms

See also: Global North and Global South

Terms linked to the concept developed country include "advanced country", "industrialized country", "more developed country" (MDC), "more economically developed country" (MEDC), "Global North country", "first world country", and "post-industrial country". The term industrialized country may be somewhat ambiguous, as industrialisation is an ongoing process that is hard to define. The first industrialized country was the United Kingdom, followed by Belgium. Later it spread further to Germany, United States, France and other Western European countries. According to some economists such as Jeffrey Sachs, however, the current divide between the developed and developing world is largely a phenomenon of the 20th century.10

Mathis Wackernagel calls 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."11

A 2021 analysis proposes the term emerged to describe markets, economies, or countries that have graduated from emerging market status, but have not yet reached the level equivalent to developed countries.12 Multinational corporations from these emerging markets present unique patterns of overseas expansion and knowledge acquisition from foreign countries.

Economy lists by various criteria

Human Development Index (HDI)

Main articles: Human Development Index and List of countries by Human Development Index

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) and Iceland (2007–2008) have had the highest HDI score.

The following countries in the year 2022 are considered to be of "very high human development":13

RankΔCountry or territoryHDI%

annual growth

(2010–2022)

1  Switzerland0.967 0.24%
2 (1) Norway0.966 0.25%
3 Iceland0.959 0.28%
4 (2) Hong Kong0.956 0.38%
5 (1) Denmark0.952 0.35%
 Sweden 0.38%
7 (8) Ireland0.950 0.38%
(3) Germany 0.19%
9 (1) Singapore0.949 0.25%
10 (1) Netherlands0.946 0.26%
(1) Australia 0.20%
12 (2) Liechtenstein0.942 0.23%
(3) Belgium 0.26%
 Finland 0.27%
15 (3) United Kingdom0.940 0.24%
16 (7) New Zealand0.939 0.13%
17 (19) United Arab Emirates0.937 1.04%
18 (5) Canada0.935 0.22%
19 (3) South Korea0.929 0.36%
20 (1) Luxembourg0.927 0.14%
(5) United States 0.10%
22 (1) Slovenia0.926 0.33%
(1) Austria 0.21%
24 (4) Japan0.920 0.16%
25 (1) Israel0.915 0.26%
(3) Malta 0.50%
27 Spain0.911 0.40%
28 (3) France0.910 0.28%
29 (3) Cyprus0.907 0.45%
30 Italy0.906 0.24%
31 (2) Estonia0.899 0.33%
32 (6) Czech Republic0.895 0.22%
33 (3) Greece0.893 0.18%
34 (3) Bahrain0.888 0.80%
35 (3) Andorra0.884 0.20%
36 (2) Poland0.881 0.35%
37 (2) Latvia0.879 0.51%
(2) Lithuania 0.32%
39 (6) Croatia0.878 0.53%
40 Qatar0.875 0.45%
(6) Saudi Arabia 0.70%
42 Portugal0.874 0.42%
43 (10) San Marino0.867 0.32%
44 Chile0.860 0.47%
45 (9) Turkey0.855 1.10%
(5) Slovakia 0.14%
47 Hungary0.851 0.22%
48 (6) Argentina0.849 0.15%
49 Kuwait0.847 0.36%
50 (1) Montenegro0.844 0.38%
51 (2) Saint Kitts and Nevis0.838 0.49%
52 (8) Uruguay0.830 0.47%
53 (3) Romania0.827 0.14%
54 (1) Antigua and Barbuda0.826 0.18%
55 (7) Brunei0.823 0.02%
56 (3) Russia0.821 0.25%
57 (3) Bahamas0.820 0.21%
(5) Panama 0.47%
59 (7) Oman0.819 0.22%
60 (3) Trinidad and Tobago0.814 0.30%
(4) Georgia 0.54%
62 (2) Barbados0.809 0.18%
63 (6) Malaysia0.807 0.41%
64 (5) Costa Rica0.806 0.39%
65 (3) Serbia0.805 0.39%
66 (6) Thailand0.803 0.65%
67 (1) Seychelles0.802 0.30%
(4) Kazakhstan 0.38%
69 (11) Belarus0.801 0.12%

WESP developed economies

According to the United Nations Department of Economic and Social Affairs' World Economic Situation and Prospects report, the following 37 countries are classified as "developed economies" as of January 2024:14

31 countries in Europe:

two countries in Northern America:

four countries in Asia and the Pacific:

World Bank high-income economies

According to the World Bank, the following 85 sovereign states and territories across are classified as high income economies, having a nominal GNI per capita in excess of $14,005 as of 2024:15

Unsovereign Territories are denoted with an asterisk (*).

Development Assistance Committee members

See also: Development Assistance Committee

There are 29 OECD member countries and the European Union—in the Development Assistance Committee (DAC),16 a group of the world's major donor countries that discusses issues surrounding development aid and poverty reduction in developing countries.17 The following OECD member countries are DAC members:

25 countries in Europe:

two countries in the Americas:

two countries in Asia:

two countries in Oceania:

IMF advanced economies

According to the International Monetary Fund, 41 countries and territories are officially listed as "advanced economies",1819 with the addition of 7 microstates and dependencies modified by the CIA which were omitted from the IMF version:20

29 countries and dependencies in Europe classified by the IMF, 6 others given by the CIA:

Plusd

seven countries and territories in Asia:

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

two countries in Oceania:

d The 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.21

Paris Club members

There are 22 permanent members in the Paris 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)

Comparative table of countries with a "very high" human development (0.800 or higher), according to UNDP; "advanced" economies, according to the IMF; "high income" economies, according to the World Bank.

Developed countries
CountriesHDI22IMF23WB24
2023
 CroatiaYes since 2007Yes since 2023Yes since 2017
2021
 San MarinoYes since 2021Yes since 2012Yes since 2000
2020
 AndorraYes since 2003Yes since 2020Yes since 1990
2015
 LithuaniaYes since 2005Yes since 2015Yes since 2012
2014
 LatviaYes since 2005Yes since 2014Yes since 2012
2011
 EstoniaYes since 2003Yes since 2011Yes since 2006
2009
 SlovakiaYes since 2006Yes since 2009Yes since 2007
 Czech RepublicYes since 2001Yes since 2009Yes since 2006
2008
 MaltaYes since 2003Yes since 2008Yes since 2002
 LiechtensteinYes since 2000Yes since 2008Yes since 1990
 MonacoYes before 199025Yes since 2008Yes before 1990
2007
 SloveniaYes since 1998Yes since 2007Yes since 1997
2005
 PortugalYes since 2005Yes since 198926Yes since 1994
2001
 GreeceYes since 2001Yes since 198927Yes since 1996
 South KoreaYes since 1999Yes since 199728Yes since 2001
 CyprusYes since 2001Yes since 2001Yes since 1988
1999
 SingaporeYes since 1999Yes since 199729Yes since 1987
1997
 IsraelYes since 1991Yes since 199730Yes since 1987
 TaiwanN/A31Yes since 199732Yes since 1987
1996
 IrelandYes since 1996Yes since 1945Yes since 1987
1995
 SpainYes since 1995Yes since 1945Yes since 1987
 ItalyYes since 1995Yes since 1945Yes since 1987
1994
 FinlandYes since 1994Yes since 1945Yes since 1987
1993
 FranceYes since 1993Yes since 1945Yes since 1987
1992
 United KingdomYes since 1992Yes since 1945Yes since 1987
 AustriaYes since 1992Yes since 1945Yes since 1987
 LuxembourgYes since 1992Yes since 1945Yes since 1987
1991
 DenmarkYes since 1991Yes since 1945Yes since 1987
1987
 New ZealandYes before 1990Yes since 1945Yes since 1987
 IcelandYes before 1990Yes since 1945Yes since 1987
 SwedenYes before 1990Yes since 1945Yes since 1987
 AustraliaYes before 1990Yes since 1945Yes since 1987
 BelgiumYes before 1990Yes since 1945Yes since 1987
 CanadaYes before 1990Yes since 1945Yes since 1987
 GermanyYes before 1990Yes since 1945Yes since 1987
 JapanYes before 1990Yes since 1945Yes since 1987
 NetherlandsYes before 1990Yes since 1945Yes since 1987
 United StatesYes before 1990Yes since 1945Yes since 1987
 NorwayYes before 1990Yes since 1945Yes since 1987
  SwitzerlandYes before 1990Yes since 1945Yes since 1987
In process
CountriesHDI33IMF34WB35
 RussiaYes since 2013NoYes since 2023
 UruguayYes since 2014NoYes since 2012
 ChileYes since 2007NoYes since 2012
 Trinidad and TobagoYes since 2021NoYes since 2006
 RomaniaYes since 2013NoYes since 2021
 PanamaYes since 2019NoYes since 2021
 BahamasYes since 2016NoYes since 1987
 HungaryYes since 2005NoYes since 2014
 PolandYes since 2003NoYes since 2009
 KuwaitYes since 2014NoYes since 1987
 BahrainYes since 2012NoYes since 2001
 OmanYes since 2012NoYes since 2007
 Saudi ArabiaYes since 2010NoYes since 2004
 United Arab EmiratesYes since 2004NoYes since 1987
 BruneiYes since 1999NoYes since 1990
 QatarYes since 1996NoYes since 1987
 Saint Kitts and NevisYes since 2011NoYes since 2012
 SeychellesYes since 2022NoYes since 2014
 Antigua and BarbudaYes since 2007NoYes since 2012
 BarbadosYes since 2016NoYes since 2006
Other recognitions
CountriesHDI36IMF37WB38
 SerbiaYes since 2019NoNo
 Costa RicaYes since 2019NoNo
 ArgentinaYes since 2006NoNo
 MontenegroYes since 2013NoNo
 KazakhstanYes since 2015NoNo
 MalaysiaYes since 2016NoNo
 TurkeyYes since 2015NoNo
 GeorgiaYes since 2019NoNo
 BelarusYes since 2012NoNo
 BulgariaNoNoYes since 2023
 GuyanaNoNoYes since 2022
 ThailandYes since 2021NoNo
 NauruNoNoYes since 2019

See also

Notes

References

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  3. Developed Economy Definition Archived 22 March 2016 at the Wayback Machine. Investopedia (16 April 2010). Retrieved 12 July 2013. http://www.investopedia.com/terms/d/developed-economy.asp#axzz1legO8olO ↩

  4. International Monetary Fund. "World Economic Outlook Database, April 2023". International Monetary Fund. Archived from the original on 13 April 2023. Retrieved 30 April 2023. https://www.imf.org/en/Publications/WEO/weo-database/2023/April ↩

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  8. "Standard Country and Area Codes Classifications (M49): Developed Regions". United Nations Statistics Division. Archived from the original on 11 July 2017. Retrieved 13 May 2017. http://unstats.un.org/unsd/methods/m49/m49.htm ↩

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  10. Sachs, Jeffrey (2005). The End of Poverty. New York, New York: The Penguin Press. ISBN 1-59420-045-9. 1-59420-045-9 ↩

  11. Wackernagel, Mathis; Beyers, Bert (2019). Ecological Footprint: Managing Our Biocapacity Budget. Gabriola Island, BC, Canada: New Society Publishers. p. 132. ISBN 978-0-86571-911-8. Archived from the original on 30 December 2019. Retrieved 20 January 2021. 978-0-86571-911-8 ↩

  12. 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. ISSN 0969-5931. S2CID 244268711. https://www.sciencedirect.com/science/article/pii/S0969593121001438 ↩

  13. Human Development Report 2023-24: Breaking the gridlock: Reimagining cooperation in a polarized world. United Nations Development Programme. 13 March 2024. Archived from the original on 17 March 2024. Retrieved 16 March 2024. https://hdr.undp.org/content/human-development-report-2023-24 ↩

  14. "World Economic Situation and Prospects 2024" (PDF). United Nations Department of Economic and Social Affairs. p. 135. https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/WESP_2024_Web.pdf ↩

  15. "World Bank Country and Lending Groups". World Bank. Retrieved 25 July 2024. https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups ↩

  16. Peer reviews of DAC members – Organisation for Economic Co-operation and Development Archived 27 May 2013 at the Wayback Machine. Oecd.org. Retrieved 22 October 2013. http://www.oecd.org/dac/peer-reviews/peerreviewsofdacmembers.htm ↩

  17. DAC website >> "The DAC in Dates" Archived 15 February 2010 at the Wayback Machine, On the DAC's self-description, see the introductory letter. On other events, refer to the relevant section by date. http://www.oecd.org/dataoecd/3/38/1896808.pdf ↩

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  20. CIA (2008). "Appendix B. International Organizations and Groups". World Factbook. Archived from the original on 9 April 2008. Retrieved 10 April 2008. https://web.archive.org/web/20080409033504/https://www.cia.gov/library/publications/the-world-factbook/appendix/appendix-b.html ↩

  21. CIA (2008). "Appendix B. International Organizations and Groups". World Factbook. Archived from the original on 9 April 2008. Retrieved 10 April 2008. https://web.archive.org/web/20080409033504/https://www.cia.gov/library/publications/the-world-factbook/appendix/appendix-b.html ↩

  22. United 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. ISBN 978-9-210-03102-8. Archived from the original on 4 May 2024. Retrieved 5 May 2024.{{cite book}}: CS1 maint: bot: original URL status unknown (link) 978-9-210-03102-8 ↩

  23. "World Economic Outlook Database – Changes to the Database". International Monetary Fund. Archived from the original on 29 December 2017. Retrieved 7 February 2019. https://www.imf.org/external/pubs/ft/weo/data/changes.htm ↩

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  25. "Monaco Has The World's Highest Score on the U.N. Human Development Index". Monaco Estate. 29 November 2021. Archived from the original on 8 July 2023. Retrieved 8 June 2023. https://web.archive.org/web/20230708062956/https://monacoestate.com/monaco-has-the-worlds-highest-score-on-the-u-n-human-development-index/ ↩

  26. "World Economic Outlook, October 1989" (PDF). International Monetary Fund. p. 12. Archived (PDF) from the original on 28 June 2020. Retrieved 8 May 2020. https://www.elibrary.imf.org/doc/IMF081/14573-9781451944433/14573-9781451944433/Other_formats/Source_PDF/14573-9781455235476.pdf ↩

  27. "World Economic Outlook, October 1989" (PDF). International Monetary Fund. p. 12. Archived (PDF) from the original on 28 June 2020. Retrieved 8 May 2020. https://www.elibrary.imf.org/doc/IMF081/14573-9781451944433/14573-9781451944433/Other_formats/Source_PDF/14573-9781455235476.pdf ↩

  28. International Monetary Fund Annual Report 1997. Annual Report of the Executive Board. International Monetary Fund. October 1997. doi:10.5089/9781451945102.011. ISBN 9781451945102. Archived from the original on 25 June 2020. Retrieved 8 May 2020. 9781451945102 ↩

  29. International Monetary Fund Annual Report 1997. Annual Report of the Executive Board. International Monetary Fund. October 1997. doi:10.5089/9781451945102.011. ISBN 9781451945102. Archived from the original on 25 June 2020. Retrieved 8 May 2020. 9781451945102 ↩

  30. International Monetary Fund Annual Report 1997. Annual Report of the Executive Board. International Monetary Fund. October 1997. doi:10.5089/9781451945102.011. ISBN 9781451945102. Archived from the original on 25 June 2020. Retrieved 8 May 2020. 9781451945102 ↩

  31. The HDI annual report compiled by the UNDP does 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.[28] Taiwan's Statistical Bureau calculated its HDI to be 0.926 based on UNDP's 2010 methodology,[29][30] which would place Taiwan well within the group of "Very high human development" at 19th globally in 2021 within the 2022 UNDP report.[31][32] /wiki/Human_Development_Report ↩

  32. International Monetary Fund Annual Report 1997. Annual Report of the Executive Board. International Monetary Fund. October 1997. doi:10.5089/9781451945102.011. ISBN 9781451945102. Archived from the original on 25 June 2020. Retrieved 8 May 2020. 9781451945102 ↩

  33. United 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. ISBN 978-9-210-03102-8. Archived from the original on 4 May 2024. Retrieved 5 May 2024.{{cite book}}: CS1 maint: bot: original URL status unknown (link) 978-9-210-03102-8 ↩

  34. "World Economic Outlook Database – Changes to the Database". International Monetary Fund. Archived from the original on 29 December 2017. Retrieved 7 February 2019. https://www.imf.org/external/pubs/ft/weo/data/changes.htm ↩

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  36. United 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. ISBN 978-9-210-03102-8. Archived from the original on 4 May 2024. Retrieved 5 May 2024.{{cite book}}: CS1 maint: bot: original URL status unknown (link) 978-9-210-03102-8 ↩

  37. "World Economic Outlook Database – Changes to the Database". International Monetary Fund. Archived from the original on 29 December 2017. Retrieved 7 February 2019. https://www.imf.org/external/pubs/ft/weo/data/changes.htm ↩

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