An over view of a developing country?
It a common knowledge how a developing country operates, in major cases they tend to have lower economic and social indicators than developed countries. Also, some developing countries are beyond on their way to becoming developed countries than others. Indeed, it can undoubtedly be argued that labeling countries either developed or developing oversimplifies the individual situations of each country.
How to determine a developing country
As previously cited, there are several ways to distinguish a developing country from a developed country. One of those methods is based purely on economic output. The World Bank specifically defines a country’s development status based on GNI (gross national income) per capita.
Also, these 4 levels of classification: low income, lower-middle income, upper-middle income, and high income are used. Most countries generally considered to be developed countries are classified by the World Bank as being high-income countries, with most GNI per capita of not less than $12,536 Dollars. This is where countries like the United States, Canada, Australia, and countries in Western Europe fall into.
It a fact of how countries with lower GNI per capita than the US have a higher life expectancy such as Cuba, the Maldives, Barbados, Poland, and Lebanon, all of which are classified as upper-middle-income countries.
This section also contributes to determining who a developing country and a developed country is. For instance, developing countries manage to have more people in their labor forces operating in primary industries like agriculture and mining. Nigeria has around 36% of the country’s labor involved in agriculture. In disparity, not up to 11% of the US workforce works in agriculture. Measuring the number of agricultures as a share of a country’s GDP (gross domestic product) may indicate how developed a country’s economy is. For instance, agriculture makes up 40% of Ethiopia’s GDP, however simply 5% of Germany’s GDP.
Generally, developed nations will have huge service sectors, high-tech sectors, and significant exports of high-end products like computers and other advanced technology. A nation’s level of urbanization can also signify that it is a developing country. In Afghanistan, for example, just 26% of its people live in cities, whereas 88% of Denmark’s population lives in cities
Developing countries also incline to have lower levels of education when compared to developed countries. For instance, whereas Americans have an average of twelve years of schooling, people in Mali and Guinea have less than 1 year of schooling on average. Even China the world’s second-largest economy is considered a developing country, the average person receives 7 years of schooling, which is lower to that of other developing countries like Thailand and Jordan.