Top 15 Most Developed Countries in the World

 

Top 15  Most Developed Countries in the World

A developed country is a sovereign state that has a high quality of life, developed economy and advanced technological infrastructure relative to other less industrialized nations. It is very difficult to find the correct way to measure the difference between developed and developing countries. Even though one of the factors considered for deciding the same is Gross Domestic Product (GDP), other indicators come under consideration.  A person may consider one factor more accurate than the other factor while others may find other factors more accurate than the first one, but none necessarily mean incorrect.

However, to consider a country developed, the main factor considered is socio-economic development. When a country achieves a specific socio-economic requirement, it is deemed developed.

To know a developed country, a lot of indices must be checked. Things like: a highly developed economy, technological advancement and infrastructural growth are just a few criteria to know whether a country can be considered as a developed nation.

Full list of developed countries in the world is based on Human Development Index (HDI) and was released recently in Tokyo. These HDI ratings divided countries into four categories of human development namely: Very highly developed, highly developed, Medium developed and Low developed. With respect to Africa, countries within her continent ranked as under­developed countries in the world and were regarded as third world countries.

Although, there has always been a debate as to which criteria is most appropriate to rank countries for their level of development. Analysts were of the opinion that gross domestic product (GDP), per capital income, level of industrialization, life expectancy, standard of living and literacy level should be taken into account to estimate the degree of development in a particular nation.

 

What Is a Developed Country?

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, and/or the amount of technological infrastructure it has.

These factors are typically interconnected (i.e., the level of available technology can impact the amount of GDP a country is capable of generating, etc.).

 


Characteristics of Most Developed Countries in the World

Top 10 Most Developed Countries in the World

According to the UN, in 2020, 36 countries were considered "developed." All developed countries were located in North America, Europe, or "Developed Asia and Pacific.

1. Their birth and death rates are stable. They do not have very high birth rates because, thanks to quality medical care and high living standards, infant mortality rates are low. Families do not feel the need to have large numbers of children due to the expectation that some will not survive.

2. They have more women working. These career-oriented women may have chosen to have smaller families or eschew having children altogether.

3. They use a disproportionate amount of the world's resources. In developed countries, more people drive cars, fly on airplanes, and power their homes with electricity and gas. Inhabitants of developing countries often do not have access to technologies that require the use of these resources.

4. They have higher levels of debt. Nations with developing economies cannot obtain the kind of seemingly bottomless financing that more developed nations can.

 

List of Top 10 Most Developed Countries in the World

Below are list of the 10 most developed countries in world:

1. Australia

2. Norway

3. Switzerland

4. Canada

5. United States of America

6. France

7. Germany

8. New Zealand

9. Singapore

10. Italy

11. Japan

12. United Kingdom

13. Denmark

14. Netherlands

15. China

 



1. AUSTRALIA

Top 15 Most Developed Countries in the World

The majority of the Australian population has a better quality of life than other nations. It is one of the richest countries in the Asia Pacific region. It has experienced a wide 20-year economic expansion.

According to the organization's statistics for economic cooperation and development, Australia's rating of happiness with life is 7.3 out of 10; on the other hand, the worldwide average of the same is 6.5. The Australian Republic has been considered a developed nation because of its high level of industrialization.

Moreover, it offers a very high quality of healthcare to the majority of its people. Its infant mortality rate is 3.3 per 1000 live birth, making it one of the world's lowest infant mortality rates. The life expectancy rate in Australia is 85 years due to the country's exceptional healthcare system.

Australia:

GDP (2020): $1.33 trillion

Population (2020): 25.69 million

GDP per Capita (2020): $51,680.30

HDI (2019): 0.944

 

2. NORWAY

Top 15 Most Developed Countries in the World

The world’s most developed country is Norway with a Human Develop Index of 0.944. The economy of Norway is mixed and ever growing since the start of industrial era. The prominent contributor in its economy is the abundance of natural resources, mainly oil and gas, and the exports made by the nation. Norway’s GDP is $277.1 billion and $55,009 per capita. Norway has a strongly integrated welfare system, a life expectancy of 80.57 and extremely high standards of living compared to other European countries. The HDI of 0.944, which has gone up by 0.001 from 2013, gives it the number 1 position on this list of top 10 most developed countries in the world.


3. SWITZERLAND

Top 15 Most Developed Countries in the World

One of the world’s wealthiest nations, Switzerland has an extremely stable economy which follows the policy of long term monetary security making it a preferred choice for investors around the globe. Apart from foreign investment, the country relies upon its high labour specialization, trade and industries to earn a GDP of $363.4 billion and $45,418 per capital. Needless to say, the country enjoys very high standards of living while the life expectancy is 81.38. Switzerland is the 3rd most developed country in world on our list. 4. Netherlands With a prosperous and robust economy which largely depends upon foreign trade, the Dutch economy was hit by the global financial crisis but the 2014 estimates GDP for the country is $707.0 billion and $42,194 per capita making it one of the richest nations in world. The life expectancy in Netherlands is 81.12 and the country has very high standards of living.

 

4. CANADA

Top 15 Most Developed Countries in the World


Canada has been marked as the 10th largest economy in the world. According to GDP statistics, the factors responsible for its huge GDP are the abundance of natural resources like oil, coal, and gas. Due to the richness of natural resources, the country meets its energy requirements. Furthermore, it also exports its natural resources to other countries, contributing to its economy. Despite the abandons of natural resources, the country is a global leader in the developmental use of renewable energy sources. Canada provides a well-reformed healthcare system to its people. Almost all residents of the total 43 provinces of Canada have access to free medical care. The life expectancy rate of Canadians is 82 years as of 2019 data, and the infant mortality rate is 10 deaths per thousand live births owing to good medical services. Canada has the world's third-largest oil reserves, and therefore it has a well-developed energy extraction industry. According to the data, 18.9% of the energy supply comes from renewable energy sources; 59.3% of the country's power comes from water. It also has very close connections with the United States with a free trade agreement between the two. Three-quarters of all the exports of Canada go to the United States each year. Due to these bonds with the United States, Canada is growing and becoming the world's largest economy.

Canada:

  • GDP (2020): $1.64 trillion
  • Population (2020): 38.04 million
  • GDP per Capita (2020): $43,258.30
  • HDI (2019): 0.929

 

5. UNITED STATES OF AMERICA

Top 15 Most Developed Countries in the World


In terms of GDP, the United States of America stands at number one position. It also regarded as the richest nation on the planet, accounting for 16% wealth of the whole world. It is the world's biggest trading country, involved heavily in exports and imports. The United States is the greatest importer globally and the second-largest exporter of manufactured products.

According to the data of 2021, the USA has the third-largest military. Although the country has a very high HDI score and is well known for its wealth among all nations, it has a high poverty rate, higher than any other industrialized country and not so good health care services. The average life expectancy rate of the country is 79 years and a high infant mortality rate that is 11 deaths per 1000 live births as per 2019 stats. The sector contributing most to its GDP is the service sector, including professional and business services, real estate, insurance and banking. The reason for the country's growth is that it allows flexible company investment and foreign direct investments.

United States:

  • GDP (2020): $20.95 trillion
  • Population (2020): 331.50 million
  • GDP per Capita (2020): $63,206.50
  • HDI (2019): 0.926

 



6. FRANCE

Top 15 Most Developed Countries in the World


The economic powerhouse of the world is the French Republic. As per 2019 data France has the 7th largest economy by GDP in the world. The reason behind the same is its broad tourism, high level of industrialization, and medicines, which all contribute to its success. The French government has partly or completely privatized various well-known enterprises in France. It retains a large portion of the military sector, electricity and transportation of the country. The healthcare system of France is very well developed. It combines universal access to treatment with a high level of patient autonomy. In general, the people of France are quite content with its healthcare facilities, and as a result, it has a high life expectancy rate of 83 years and a very low infant mortality rate of four deaths per thousand live births. Furthermore, due to high industrialization, there is very little unemployment in France, with a rate of only 8.34 %, according to 2020 data. The biggest factor contributing to the GDP is tourism. The nation gets most of the tourists all year round.

France:

  • GDP (2020): $2.63 trillion
  • Population (2020): 67.38 million
  • GDP per Capita (2020): $39,037.10
  • HDI (2019): 0.901

 

7. GERMANY

Top 15 Most Developed Countries in the World


In the whole of Europe, Germany has the strongest economy. It stands at the 4th position in the world in terms of GDP. The major factor contributing to the same is its highly trained workforce. Germany is famous for producing good quality products, including automobiles, electronics, machinery, and medicines. As per the reports of 2019, the world's second-largest surplus economy was Germany, just after China in terms of import and export. Germany provides a universal healthcare system to its people. It has 81 years of life expectancy rate and a very low infant mortality rate with just three deaths per 1000 live births.

According to statistics of 2019, every German citizen is required to join a nonprofit illness fund that covers the majority of medical operations and prescriptions. As per 2017 stats, only 0.3% of German citizens have reported unmet medical needs. Germany has a highly qualified workforce, and it is a leading exporter of manufactured goods like automobiles, chemicals, and other types of equipment.

Germany:

  • GDP (2020): $3.85 trillion
  • Population (2020): 83.16 million
  • GDP per Capita (2020): $46,252.70
  • HDI (2019): 0.947

 

8. NEW ZEALAND

Top 15 Most Developed Countries in the World

New Zealand is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island and the South Island —and over 700 smaller islands. It is the sixth-largest island country by area, covering 268,021 square kilometres.

New Zealand is a wealthy nation comprising of two main islands and many smaller islands. The country has a market economy which is prominently dependent upon agriculture but manufacturing and tourism also make significant contributions. The life expectancy in New Zealand is 80.93 and the country’s GDP is $132.0 billion and $29,730 per capital. With its Human Development Index at 0.910, it is world’s seventh most developed country currently.

 

9. SINGAPORE



Top 15 Most Developed Countries in the World

Singapore, officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. Against 2013’s Human Develop Index rankings, Singapore has moved up by 3 positions and currently is the 9th most developed country in world. A hi­tech and one of the most prosperous countries in the world, Singapore also enjoys one of the world’s highest standards of living. With a highly trade oriented market economy, Singapore has a GDP of $326.5 billion and $60,410 per capita and 4th longest life expectancy which is 84.38 years.

 

10. ITALY

Top 15 Most Developed Countries in the World


Italy is ranked at the sixth position in terms of GDP. The major reason behind the high economy of the country is its pretty advanced manufacturing sector. Italy is well known for manufacturing high-quality luxury goods, for example, stylish accessories, gourmet food and high technological automobiles. 

Furthermore, more than 25 million people, nearly 71 % of Italy's population, are employed in the service sector. Only 3.5 % of the population works in agriculture, implying that the country is quite well developed. It provides advanced medical services. Italy accounts for 2.28 % of the total wealth of the world. The country provides modern commercial banking to its business class. Italy has 83 years of life expectancy and an infant mortality rate of 7 deaths per thousand live births. Though, there are high disparities in different areas within Italy. North Italy is considered to have a better developed and industrial zone whereas south Italy is considered as the less developed part.

Italy

  • GDP (2020): $1.89 trillion
  • Population (2020): 59.45 million
  • GDP per Capita (2020): $31,770
  • HDI (2019): 0.892

 

11. JAPAN

Top 15 Most Developed Countries in the World


Although Japan has a smaller size than other economically developed countries like France or Germany, still it remains the world's 3rd richest country in terms of its total GDP. The reason behind the same is its service industry.

According to the statistics of 2019, approximately 72% of the country's people work in the service sector, and only 3% of the people are employed in agriculture. The country does not have natural resources and relies highly on the import of natural resources. It is the biggest net buyer of food, liquefied natural gas (LNG) and coal. Japan has 84 years of average life expectancy and a significantly low infant mortality rate of just two deaths per thousand live births. 

According to the data of 2019, despite its small size, it has the third-largest economy. Japan's GDP crossed 5 trillion dollars as of 2019 data, and the reason for this high GDP is its industrial and export-oriented economy which has strong interlinks with government corporations.

Another major reason behind the success of Japan is its sophisticated technology. The new policies formed by the former prime minister have resulted in an exponential increase in economic growth after the last decade of 1990 and the effect of the great worldwide recession.

Japan

  • GDP (2020): $5.06 trillion
  • Population (2020): 125.84 million
  • GDP per Capita (2020): $40,193.30
  • HDI (2019): 0.919

 



12. UNITED KINGDOM

Top 15 Most Developed Countries in the World


It is well known that the United Kingdom is the first industrialized country. According to 2019 data, the country stands at 6th position in terms of the GDP. Although the country is facing an exponential decline in its oil and natural gas reserves, it can still maintain its GDP by relying heavily on its service sector, notably business services, banking and insurance.

There is not much data on the healthcare system of the country, the average life expectancy rate is 81 years, and it has a significantly high infant mortality rate of 11 deaths per thousand live births. In 2016, the British people decided to leave the European Union, which is known as the Brexit. As a result, the two organizations do not have a valid trade agreement. However recently, a very temporary agreement was made in European Parliament on 28 April 2021, and further decisions are still underway.

United Kingdom:

  • GDP (2020): $2.76 trillion
  • Population (2020): 67.21 million
  • GDP per Capita (2020): $41,059.20
  • HDI (2019): 0.932

 

13. DENMARK

Top 15 Most Developed Countries in the World


Denmark is a Scandinavian country comprising the Jutland Peninsula and numerous islands. It's linked to nearby Sweden via the Ă–resund Bridge. Copenhagen, its capital, is home to royal palaces and colorful. She enjoys a modern and mixed economy which is mainly service based as the country lacks in mineral resources other than oil and gas, and has to rely upon human resources. The life expectancy in Denmark is 80 years and the standard of living in the country is quite high. Denmark has a GDP of $210.1 billion and $37,657 per capital while its HDI rating of 0.9 makes it the 10th (tenth) most developed country in world.

 

14. NETHERLANDS

Top 15 Most Developed Countries in the World


 With a prosperous and robust economy which largely depends upon foreign trade, the Dutch economy was hit by the global financial crisis but the 2014 estimates GDP for the country is $707.0 billion and $42,194 per capita making it one of the richest nations in world. The life expectancy in Netherlands is 81.12 and the country has very high standards of living.

The Netherlands:

  • GDP (2020): $913.86 billion
  • Population (2020): 17.44 million
  • GDP per Capita (2020): $52,396
  • HDI (2019): 0.944

 

15. CHINA

Top 15 Most Developed Countries in the World


Despite having the world's second-largest economy and the largest military, China is still not classified as a developed country by the criteria of most organizations. In addition to having one of the lowest GDPs per capita on this list, another attribute indicating China is still developing is its dependence on agriculture, although this has been trending downward over time.

According the CIA World Fact Book, 7.9% of China's overall GDP was derived from agriculture. As of 2020, China's average life expectancy was 77 years, and its infant mortality rate was six per 1,000 live births. Although these rates aren't exceptionally high, they are noticeably worse than most other countries with trillions of dollars in overall wealth.

China:

  • GDP (2020): $14.72 trillion
  • Population (2020): 1.41 billion
  • GDP per Capita (2020): $10,434.80
  • HDI (2019): 0.761

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