Opinions on Developed country

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"Industrial nation" redirects here. For the magazine, see Industrialnation.
For the investing classification, see Developed market.

A developed country, industrialized country, or "more economically developed country" (MEDC), is a sovereign state that has a highly developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate.

Developed countries have post-industrial economies, meaning the service sector provides more wealth than the industrial sector. They are contrasted with developing countries, which are in the process of industrialization, or undeveloped countries, which are pre-industrial and almost entirely agrarian. According to the International Monetary Fund, advanced economies comprise 65.8% of global nominal GDP and 52.1% of global GDP (PPP) in 2010. In 2014, the ten largest advanced economies by nominal GDP were the United States, Japan, Germany, France, the United Kingdom, Italy, Canada, Australia, South Korea and Spain. By PPP GDP, they were the United States, Japan, Germany, France, the United Kingdom, Italy, South Korea, Canada, Spain and Australia.


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Thanks to this graph, we can see the interest Developed country has and the evolution of its popularity.

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