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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Denmark is a Scandinavian country comprising the Jutland
Peninsula and numerous islands. It's linked to nearby Sweden via the Öresund 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
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
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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