While figures on infant mortality and life expectancy cannot be obtained with reasonable accuracy, most analysts project these numbers as abysmal and well below any meaningful threshold for developed country status. As of 2016, the HDI for Australia was 0.93, one of the highest in the world (second only to Norway). In developed countries, more people drive cars, fly on airplanes, and power their homes with electricity and gas. Morocco’s economy is stable and versatile. According to OECD, German children are provided with access to early education programs. The primary factor used to distinguish developed countries from developing countries is the gross domestic product (GDP) per capita, a tally of all the goods and services produced in a country in one year, expressed in U.S. dollars.

As you can see from the list, the highest developing countries are not the wealthiest countries on the continent. Part of what signifies Norway as a developed country is a vast majority of workers (77.6%) are employed in the services sector rather than in agriculture or manufacturing.

Taiwan's per capita gross domestic product (GDP) is strong, and the country's economy is diversified. Consider it one of the most advanced developing countries in the world. Canadians enjoy universal health care coverage, with all residents having access to free medical care through a government-provided program. A developed economy is one with sustained economic growth, security, high per capita income, and advanced technological infrastructure. When considering per capita GDP, the Netherlands' economy demonstrates its real power, with a figure of $48,458 that moves it up to the 11th place. Organization for Economic Cooperation and Development. You can learn more about the standards we follow in producing accurate, unbiased content in our. They have higher levels of debt. As of 2016, Mexico's per capita GDP is $17,276. GDP is calculated by dividing a country's GDP by its population. Argentineans' purchasing power was nearly wiped out in the early 1990s when inflation topped 2,000%.. Its overall HDI score is 0.76. Italy is home to a number of multinational corporations with notable yearly revenues, including the petroleum company Eni and energy company Enel. Yet, in no time, it became a model of development success in the African continent. Hong Kong's Kowloon Peninsula, New Territories and Outlying Islands, 10 Hong Kong Protest Facts - WMNews Ep. Accessed Sept. 26, 2019. "Human Development Index and its components." Because of its penchant for secrecy and isolation, exact metrics on the country's economy are difficult to obtain. Watch. Instead, the list recognizes countries that have taken conscious steps in improving human and capital development regardless of their revenue and population. As a society, Sweden places great importance on environmental sustainability as well. Here are the Top 10 Most Developed Nations in Africa 2020. As of 2016, Mexico is not quite a developed country, even though it beats the majority of its peers in the developing world on most economic and quality of life metrics.