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- Norway. According to the UN Development Report, Norway is the most developed nation in the world. Norway has an HDI of 0.954, making it a "very high development" country.
- Switzerland. The second most-developed country in the world is Switzerland, with an HDI of .0946. Switzerland's life expectancy is even higher than Norway's at 83.6 years.
- Ireland. With an HDI of 0.942, Ireland is the third-most developed country. Ireland moved up in the UN's rankings faster than any other country in the last five years.
- Germany. Germany ranks fourth for the most developed countries. Germany's HDI is 0.939, tied with Hong Kong. Germany's high HDI is driven by its high quality of life and a strong economy, which is the strongest in Europe and the fourth-largest in the world.
Not to be confused with Developing country. For the investing classification, see Developed market. Developed countries ( IMF) Developing countries (IMF) Least developed countries (UN) Data unavailable. World map showing country classifications per the IMF [1] and the UN [2] (last updated April 2023). "Developed economies" according to this ...
A ranking of countries by their development level based on various indicators, such as GDP, human development, and democracy. See the list of developed countries in 2024 and compare them with other years and regions.
- Developed and Developing Countries: An Overview
- Developed vs. Developing Definition
- What Is A Developed country?
- What Is A Developing country?
- Who Gets Development Aid?
- Which Countries Have The Highest GDP Per Capita?
- Another Metric: Human Development Index
- Development Status of The Top 25 Countries by GDP
- The Bottom Line
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It's difficult to determine how best to quantify the difference between developed and developing countries. Although gross domestic product (GDP) is one of the most well-known values for assessing economic health, several other metrics can also be used to gauge a nation's development. While some metrics have the potential to be more accurate than o...
Even experts do not agree on a consistent definition of a developed country. For instance, the United Nations (UN) classifies countries as either developed economies, economies in transition, or developing economies, although it doesn't specify its basis for these groupings other than that they "reflect basic economic country conditions." The Inter...
A nation is typically considered to be developed if it meets certain socioeconomic criteria. In some cases, this can be as simple as having a sufficiently developed economy. Where that isn't adequate, other qualifiers can include but are not limited to a country's GDP/GNI per capita, its level of industrialization, its general standard of living, a...
A nation is typically considered to be developing if it does not meet the socioeconomic criteria listed above. Simply put, these are most often countries with a lower income, an underdeveloped industrial base, a lower standard of living, and a lack of access to modern technology. As a result, developing nations frequently experience a lack of jobs,...
Development status determines which countries have a right to receive development aid under the rules of a multilateral or bilateral agency, such as the World Trade Organization (WTO). This is likely the primary reason why there are so many varied definitions of "developed" versus "developing," as each organization has different qualifications for ...
GDP represents the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. The calculation of a nation's GDP encompasses all private and public consumption, government outlays, investments, additions to private inventories, paid-in construction costs, and the foreign balan...
Another measuring device, the Human Development Index (HDI), was developed by the UN to assess the social and economic development levels of a given country. HDI quantifies life expectancy, educational attainment, and income into a standardized number between zero and one. The closer the number is to one, the more developed the country. No minimum ...
Here is our analysisof the development status of the top 25 countries by GDP, organized alphabetically. Of this total, 15 countries are considered developed, nine are considered developing, and one is considered in transition. All figures are as of 2022 (except where noted), the latest information available.
Developed and developing nations share some common traits. But just because a nation is considered developed, it doesn't mean it is not lacking in certain areas. The same can be said for developing nations, whereby they may be lacking according to some indicators but have noteworthy strengths at the same time. Government policy, foreign trade agree...
Learn how countries are classified as developed or developing based on various criteria, such as GDP per capita, industrialization, and technology. See the list of the 25 countries with the highest GDPs in 2022 and their development statuses.
World map of countries or territories by Human Development Index scores in increments of 0.050 (based on 2022 data, published in 2024)
RankΔHdi Value10.9672(1)30.9594(2)Dec 31, 2020 · 10 least & most developed countries. Least developed. Niger. Central African Republic. Chad. Burundi. South Sudan. Mali. Burkina Faso. Sierra Leone. Mozambique. Eritrea. Most developed. Norway. Ireland. Switzerland. Hong Kong, China (SAR) Iceland. Germany. Sweden. Australia. Netherlands. Denmark. Human Development Index (HDI) – complete ranking.
Jun 30, 2023 · Eric Metreau. June 30, 2023. This page in: English. Français. Español. العربية. 中文. 日本語. The World Bank Group assigns the world’s economies [1] to four income groups – low, lower-middle, upper-middle, and high. The classifications are updated each year on July 1, based on the GNI per capita of the previous calendar year.
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