Today the list of developing countries consists of 150 states and territories. They occupy most of the land. Many of them were independent even before the Second World War. However, I would like to consider this topic in all its details.
First group of states
In those days when there was still a division into capitalist and socialist systems, developing countries were called the “third world”. Now they are very heterogeneous. And because of their diversity, it is very difficult to build any typology. Nevertheless, a certain classification exists.
The first group includes the so-called key states. These are Mexico, China, as well as Brazil and India. They are included in the list of developing countries because they have enormous economic, human and natural potential. These four states produce the same amount of industrial output as all the others combined. But in terms of GDP, everything is bad. In India, per capita income is 350 dollars, which is less than 23 thousand rubles.
Higher level
The second group includes states that have also achieved a relatively good level of economic and social development, but only with a GDP above a thousand dollars. The majority of such countries are in Latin America. These are Venezuela, Chile, Uruguay, Argentina and many other countries. There are also countries with similar levels in North Africa and Asia.
But this is not all developing countries. The list of states includes only six groups. The third includes industrial territories. These are the countries that made the leap in the 80s and 90s. And the growth has been amazing. The states were even given the nickname "Asian tigers". And based on such an original name, you can guess which countries these are. These include Korea, Singapore, Hong Kong (an administrative region in China) and Taiwan. Also included in the list of developing countries in the second group are Indonesia, Thailand and Malaysia.
Remaining list
The fourth group, which is included in the list of developing countries, is formed from those states that export oil. Thanks to this resource, GDP per capita can vary from 10 to 20 thousand dollars. Naturally, the list includes Saudi Arabia, the UAE, Iran, Qatar, Kuwait, as well as Brunei, Libya, etc.
The largest group is the fifth. It is made up of the "classic" developing countries of the world. The list contains the names of states with a multi-structured backward economy and feudal remnants. Per capita GDP is less than $1,000 per year. Most of the countries in this group are in Asia, Latin America and Africa.
And finally, the last category. It is formed by 40 states belonging to the so-called fourth world. That is, those territories where agriculture predominates, and consumer agriculture at that. In such countries there is practically no manufacturing industry and about 2/3 of the inhabitants are illiterate. GDP is 100-300 dollars a year (!). And this is a very good indicator. For example, in Mozambique the GDP is 20 cents a day!
Minimum wage
Of course, the developing countries of the world, the list of which is quite impressive, are of certain interest from a political and economic point of view. But most ordinary citizens want to know about salary levels.
According to statistics for 2015 published by the Organization for Economic Cooperation and Development, life is best in Luxembourg. There, the minimum wage is $2,190. This is a little more than 143,000 rubles. Australia is in second place with $2,159. This is approximately 141,000 rubles.
Germany is in third place. In the former FRG, the minimum wage is $1,958, which is 128,000 rubles. Next in the ranking are the Netherlands with a minimum wage of $1,848, which is equal to 120,700 rubles. Belgium is in next place with $1,776. This is about 116,000 rubles.
Romania and Bulgaria have the lowest minimum wage indicators in Europe. The minimum you can count on here is 230.4 and 195 dollars, respectively (15,000 and 12,700 rubles). But even this is twice as much as in Russia. And even more so in Ukraine, where the monthly minimum wage is $53.7 (3,480 rubles). In general, the countries that occupy the first positions in the minimum salary ratings are key developing countries. The list is actually longer and can be viewed individually.
Leaders of the world economy
Well, finally, a few words about states that can boast of a truly high standard of living and economy. Developed and developing countries, the list of which is quite wide, make up our entire world. But only the first of these produce ¾ of the gross world product. But only 15-16% of the entire planet’s population lives in developed countries. But it is they who, one might say, support the entire economy.
These are the USA, Canada, Japan, the Netherlands, Germany, Greece, Great Britain, Cyprus, Italy, Spain, Finland and several dozen more countries. But, despite their status, salaries in many “leading” countries do not please local residents. In the same Greece mentioned in the list, the minimum wage is 580 € (40,200 rubles). However, this is still more than in the Russian Federation.
A group of independent countries of the modern world, characterized by a high level of economic and social development, high values of macroeconomic indicators (primarily GDP per capita). Almost all of these countries have already entered the period... Geographical encyclopedia
Countries that ensure economic development based on the accumulated large volume of technically advanced fixed capital and the availability of a highly qualified workforce. Industrialized countries countries with high per capita income... ... Financial Dictionary
- (LDC) is an official term used within the UN. These states have a very low standard of living, a very weak economy, and people and resources exposed to the elements. Least developed countries are highlighted in blue Inclusion in the group... ... Wikipedia
- (industrial countries) Countries in which industrial production accounts for a large share of GDP and exports. The list of countries that can be considered industrialized is constantly changing. The International Monetary Fund (IMF) uses this... ... Economic dictionary
According to the UN classification of countries: low-income; with long-term obstacles to economic growth; with an insufficient level of human resource development; and with serious shortcomings in the structure of the economy. See also: Indicators for... ... Financial Dictionary
- (least developed countries) The poorest countries in the world. At the United Nations Conference on Trade and Development (UNCTAD) in 1971, least developed countries were countries with very low... ... Economic dictionary
LEAST DEVELOPED COUNTRIES (LDCs)- states that meet the criteria adopted by the UN General Assembly. The number of LDCs is changing. In 1984 there were 36 of them with a total population of 300 million people, in 1995 there were 47 (more than 2/3 were African countries, the rest were from Asia, Oceania and the Caribbean... Legal Encyclopedia
INDUSTRIAL COUNTRIES- countries that ensure economic development based on the accumulated large volume of technically advanced capital and the presence of a highly qualified workforce. These include the USA, Canada, Japan, most Western European countries... Legal Encyclopedia
- (LDCs) according to the criteria adopted by the UN General Assembly in 1971, those states whose gross national product (GNP) per capita does not exceed $100 (in 1970 prices), the share of manufacturing in GNP is no more than... ... Legal Dictionary
LEAST DEVELOPED COUNTRIES - USERS OF PREFERENCE SCHEME- least developed countries listed in Appendix 4 to Order No. 258 of the State Customs Committee dated April 26, 1996. Customs duties are not applied to goods imported into the customs territory of the Russian Federation and originating from these countries. List of least developed... Encyclopedia of Russian and international taxation
Books
- Countries of the world. Encyclopedia,. There are a huge number of countries on our planet: republics, kingdoms, principalities, commonwealths and so on. Large and small, developed and not very developed, aggressive, neutral and friendly - all...
- Developed countries: centers and peripheries. Experience of regional economic policy, Khasbulatov Omar Ruslanovich. The author of the monograph explores theoretical and practical issues of regional economic policy in developed countries of the world - the EU, USA, Canada and several others. The process of evolution of this…
How to identify countries with strong economies among the huge number of countries in the world? To identify highly developed states, let's pay attention to ratings - the results of comparative studies done by international experts and organizations to rank countries according to various indicators. Every year, studies are published demonstrating which countries have risen to the TOP and which have fallen down. Let's consider the main indicators that determine which countries in 2019 became the most influential in the economic field and have the highest standard of living, prosperity and freedom.
Level of economic development
The level of economic development evaluates the efficiency and maturity of the country's economy. It is not for nothing that only countries with a high level of economic development are included in the developed group, while the rest are called developing. This level is determined by various ratings.
Rating of countries by GDP
The key indicator is the level of gross domestic product (GDP). This is the name given to the total value of goods, services and other results of the activities of enterprises, firms, companies, institutions, organizations, and individuals. This is the result of the work of all residents of the country in question during the year. It is calculated in two ways. The first is when all income received during the year is added up: interest, profit, salary, and so on. The second is when expenses are summed up (government purchases, investments, consumption, exports minus imports). The official source of such information is the World Bank database. Statistics are updated every year and published in the fall. The indicator is also recorded by the International Monetary Fund and the UN.
The backbone of the world's GDP is produced by only a few countries, mostly large in territory and population.
If all goods and services produced in monetary terms (GDP) are an absolute value, then by comparing the gross domestic product with the population size, we obtain a relative indicator indicating the well-being of citizens.
According to the World Bank and the IMF, the United States of America has the best GDP indicators. Based on countries, the first places in this indicator are occupied by:
№ | A country | 2016 | 2017 |
1 | USA | 18624 | 19391 |
2 | China | 11222 | 12015 |
3 | Japan | 4949 | 4872 |
4 | Germany | 3479 | 3685 |
5 | Great Britain | 2661 | 2625 |
6 | India | 2274 | 2611 |
7 | France | 2466 | 2584 |
8 | Brazil | 1793 | 2055 |
9 | Italy | 1860 | 1938 |
10 | Canada | 1536 | 1652 |
11 | Russia | 1285 | 1578 |
12 | The Republic of Korea | 1411 | 1538 |
13 | Australia | 1265 | 1380 |
14 | Spain | 1238 | 1314 |
15 | Mexico | 1077 | 1149 |
16 | Indonesia | 864 | 932 |
17 | Türkiye | 859 | 857 |
18 | Netherlands | 751 | 771 |
19 | Switzerland | 671 | 660 |
20 | Saudi Arabia | 652 | 640 |
The presented table with indicators is an actual value, which does not take into account the difference in prices for similar goods and services. As a consequence of this omission, the GDP of developed countries is often overstated, while developing countries have lower figures.
Since purchasing power parity is a more important measure of the quality of life in countries around the world, another ranking based on PPP is more credible.
According to the International Bank, the GDP level at PPP for the countries of the world is:
№ | A country | 2017 | 2018 | 2018 |
1 | China | 23190 | 25270 | 18,69 |
2 | USA | 19485 | 20494 | 15,16 |
3 | India | 9597 | 10505 | 7,77 |
4 | Japan | 5427 | 5594 | 4,14 |
5 | Germany | 4199 | 4356 | 3,22 |
6 | Russia | 4027 | 4213 | 3,12 |
7 | Indonesia | 3250 | 3495 | 2,59 |
8 | Brazil | 3255 | 3365 | 2,49 |
9 | Great Britain | 2930 | 3038 | 2,25 |
10 | France | 2854 | 2963 | 2,19 |
11 | Mexico | 2464 | 2570 | 1,90 |
12 | Italy | 2324 | 2397 | 1,77 |
13 | Türkiye | 2186 | 2293 | 1,70 |
14 | The Republic of Korea | 2035 | 2136 | 1,58 |
15 | Spain | 1778 | 1864 | 1,38 |
16 | Saudi Arabia | 1777 | 1858 | 1,37 |
17 | Canada | 1764 | 1837 | 1,36 |
18 | Iran | 1640 | 1611 | 1,19 |
19 | Thailand | 1240 | 1320 | 0,98 |
20 | Australia | 1254 | 1318 | 0,98 |
The International Bank evaluates all the economies of the world with the exception of Syria (due to active hostilities), Somalia (since the state has actually broken up into several separate parts) and Venezuela (domestic politics is extremely closed, it is impossible to reliably estimate the level of GDP based on PPP).
Economic freedom
The most important indicator of a country's development is the level (or index) of economic freedom. It has been determined by the American think tank The Heritage Foundation since 1995 and published annually on its website and in the Wall Street Journal.
Experts from the Heritage Foundation center, based on the theories of Adam Smith, define economic freedom as the level of non-interference by the state in the process of production, distribution and consumption, except in situations where it is necessary to protect citizens.
The index is calculated based on the arithmetic average of ten freedom criteria - property, absence of corruption, government share in regulating the economy, freedom of trade, investment, labor, entrepreneurship, monetary, fiscal, financial. For each of them, a rating scale is developed from 0 to 100 points, which are ultimately summed up. The higher the score, the higher the level of economic freedom.
Available | ||
1. | Hong Kong | 90,2 |
2. | Singapore | 89,4 |
3. | New Zealand | 84,4 |
4. | Switzerland | 81,9 |
5. | Australia | 80,9 |
6 | Ireland | 80,5 |
Mostly free | ||
7. | Great Britain | 78,9 |
8. | Canada | 77,7 |
9. | UAE | 77,6 |
10. | Republic of China | 77,3 |
11. | Iceland | 77,1 |
12. | USA | 76,8 |
13. | Netherlands | 76,8 |
14. | Denmark | 76,7 |
15. | Estonia | 76,6 |
16. | Georgia | 75,9 |
17. | Luxembourg | 75,9 |
18. | Chile | 75,4 |
19. | Sweden | 75,2 |
20. | Finland | 74,9 |
21. | Lithuania | 74,2 |
22. | Malaysia | 74,0 |
23. | Czech | 73,7 |
24. | Germany | 73,5 |
25. | Mauritius | 73,0 |
26. | Norway | 73,0 |
27. | Israel | 72,8 |
28. | Qatar | 72,6 |
29. | The Republic of Korea | 72,3 |
30. | Japan | 72,1 |
31. | Austria | 72,0 |
32. | Rwanda | 71,1 |
33. | North Macedonia | 71,1 |
34. | Macau | 71,0 |
35. | Latvia | 70,4 |
Thus, countries with a free economy (from 80 points and above) in 2019 are considered to be Hong Kong, Singapore, New Zealand, Australia, Ireland and Switzerland.
As for the countries of the former USSR, in most cases the level of economic freedom in them is weak. Most states are characterized by active influence of the state on all spheres of life, which often creates some inconveniences and hinders the free development of the economy.
As an example, we present data from 2 studies conducted in 2016 and 2019 for comparison:
|
|
Prosperity Rating
The economic achievements of countries around the world are also measured by their level of prosperity. This indicator is offered by the English analytical center Legatum Institute. He has been calculating it since 2006. This index is determined by the level of social well-being of countries in the areas of economic development, entrepreneurship, governance, health, safety, education, personal freedoms and social capital. Each of the eight criteria is calculated on the basis of statistical studies by the UN, the World Bank, sociological data from the Gallup Institute and other authoritative centers. Based on the results of comparative studies, a ranking of states is published annually. In 2019, such results were published for 142 countries.
RATING | A COUNTRY | INDEX |
1 | Norway | 80.98 |
2 | New Zealand | 80.90 |
3 | Finland | 80.58 |
4 | Switzerland | 79.71 |
5 | Denmark | 79.33 |
6 | Sweden | 79.15 |
7 | UK | 79.12 |
8 | Canada | 79.02 |
9 | Netherlands | 78.99 |
10 | Ireland | 78.95 |
11 | Iceland | 78.47 |
12 | Luxembourg | 78.15 |
13 | Australia | 78.10 |
14 | Germany | 77.72 |
15 | Austria | 76.64 |
16 | Belgium | 76.00 |
17 | United States of America | 76.00 |
18 | Slovenia | 74.65 |
19 | Malta | 74.10 |
20 | France | 74.06 |
21 | Singapore | 73.73 |
22 | Hong Kong | 72.93 |
23 | Japan | 72.79 |
24 | Portugal | 72.61 |
25 | Spain | 72.49 |
26 | Estonia | 72.44 |
27 | Czech | 72.08 |
28 | Cyprus | 70.53 |
29 | Mauritius | 69.76 |
30 | Uruguay | 69.72 |
31 | Costa Rica | 69.33 |
32 | Slovakia | 68.84 |
33 | Poland | 68.33 |
34 | Italy | 68.27 |
35 | South Korea | 67.82 |
36 | Lithuania | 67.72 |
37 | Israel | 67.66 |
38 | Chile | 67.59 |
39 | United Arab Emirates | 67.01 |
40 | Latvia | 66.71 |
The best indicators on the prosperity index are in Norway, Switzerland, Denmark, New Zealand, Sweden, Canada, Australia, and the Netherlands.
Other indicators
There are other indicators by which the rating of a country's economic development is measured. This is the level of GDP per capita. It is not considered a strict characteristic, but is considered an important indicator.
Recent studies of GDP per capita (nominal) according to World Bank estimates show the following results:
№ | A country | $ |
1 | Luxembourg | 104103 |
- | Macau | 80893 |
2 | Switzerland | 80190 |
3 | Norway | 75505 |
4 | Iceland | 70057 |
5 | Ireland | 69331 |
6 | Qatar | 63506 |
7 | USA | 59532 |
8 | Singapore | 57714 |
9 | Denmark | 56307 |
10 | Australia | 53800 |
11 | Sweden | 53442 |
12 | San Marino | 49664 |
13 | Netherlands | 48223 |
14 | Austria | 47291 |
- | Hong Kong | 46194 |
15 | Finland | 46703 |
16 | Canada | 45032 |
17 | Germany | 44470 |
18 | Belgium | 43324 |
19 | New Zealand | 42941 |
20 | UAE | 40699 |
60 | Russia | 10743 |
- | World | 10714 |
A more accurate characteristic is the level of the same indicator in terms of parity (ratio of several currencies) of purchasing power per capita for a certain set of services or goods.
Here the first places are occupied by:
№ | A country | 2017 | 2018 |
1 | Qatar | 127755 | 130475 |
- | Macau (PRC) | 110592 | 116808 |
2 | Luxembourg | 103298 | 106705 |
3 | Singapore | 95508 | 10345 |
4 | Brunei | 78971 | 79530 |
5 | Ireland | 73215 | 78785 |
6 | Norway | 72170 | 74356 |
7 | UAE | 68639 | 69382 |
8 | Kuwait | 66197 | 67000 |
9 | Switzerland | 62131 | 64649 |
- | Hong Kong (PRC) | 61529 | 64216 |
10 | USA | 59895 | 62606 |
11 | San Marino | 68624 | 60313 |
12 | Netherlands | 53933 | 56383 |
13 | Saudi Arabia | 54595 | 55944 |
14 | Iceland | 53834 | 55917 |
- | Taiwan (PRC) | 50593 | 53023 |
15 | Sweden | 51180 | 52984 |
16 | Germany | 50804 | 52559 |
17 | Australia | 50609 | 52373 |
18 | Austria | 50035 | 52137 |
19 | Denmark | 50643 | 52121 |
20 | Bahrain | 49035 | 50057 |
49 | Russia | 27964 | 29267 |
The Human Development Index, which has been published in the reports of the UN Development Program since 1990, is another traditional comparative indicator of living standards and the economy. Norway, Australia, Switzerland, the Netherlands, the USA, Germany, New Zealand, Canada, Singapore, and Denmark have a very high human development rating, according to the latest 2014 report.
Based on all these indicators, the strongest and most efficient economies in the world for 2019 are:
2. Hong Kong
3. Australia
4. Germany
5. Switzerland
7. Netherlands
8. New Zealand
9. Singapore
10. Japan
Corruption Perception Index
Since 1996, the corruption level rating has been recognized as the most important indicator of the state of the country’s economy. The official name is the Corruption Perceptions Index. It was introduced by the international non-governmental organization Transparency International. It takes into account how widespread corruption is in the public sector. This ranking is calculated by analyzing surveys and statistical data. Within the framework of the study, corruption is understood as any extraction of personal gain through abuse of official position.
Interesting: the study is not based on statistics of criminal cases or sentences, but on the opinions of those who suffer from corruption or study this phenomenon.
To determine this index, a scale from “zero” to “one hundred” was developed, where 0 means the maximum level of corruption, and 100 means its absence. Although the methodology by which the rating is determined has been subject to criticism, it is generally considered by experts to be relatively reliable.
2018 | A country | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
№ | № | № | № | № | № | № | № | |
1 | Denmark | 89 | 90 | 91 | 91 | 91 | 90 | |
2 | New Zealand | 88 | 90 | 91 | 92 | 91 | 90 | |
3 | Finland | 85 | 89 | 90 | 89 | 89 | 90 | |
4 | Sweden | 85 | 85 | 87 | 86 | 86 | 85 | |
5 | Switzerland | 85 | 86 | 86 | 86 | 85 | 86 | |
6 | Singapore | 84 | 88 | 89 | 87 | 89 | 88 | |
7 | Norway | 84 | 84 | 85 | 84 | 86 | 87 | |
8 | Netherlands | 82 | 83 | 87 | 83 | 83 | 84 | |
9 | Canada | 82 | 82 | 83 | 81 | 81 | 84 | |
10 | Luxembourg | 82 | 81 | 81 | 79 | 78 | 79 | |
11 | Germany | 82 | 81 | 81 | 78 | 76 | 74 | |
12 | Great Britain | 81 | 81 | 81 | 82 | 80 | 80 | |
13 | Australia | 77 | 77 | 75 | 74 | 75 | 77 | |
14 | Iceland | 75 | 78 | 79 | 79 | 78 | 82 | |
15 | Hong Kong | 75 | 77 | 77 | 76 | 75 | 75 | |
16 | Austria | 75 | 79 | 79 | 80 | 81 | 85 | |
17 | Belgium | 75 | 75 | 76 | 72 | 69 | 69 | |
18 | Ireland | 75 | 74 | 76 | 74 | 73 | 73 | |
19 | Japan | 74 | 73 | 75 | 74 | 72 | 69 | |
20 | Estonia | 73 | 72 | 75 | 76 | 74 | 74 |
The most difficult situation with corruption is observed in the following countries:
170 | Sudan | 17 | 18 | 18 | 18 | 20 | 25 |
171 | Yemen | 17 | 16 | 17 | 19 | 19 | 25 |
172 | DPRK | 17 | |||||
173 | Syria | 17 | 14 | 16 | 18 | 15 | 21 |
174 | South Sudan | 17 | 12 | 8 | 8 | 8 | 8 |
175 | Somalia | 16 | 14 | 12 | 11 | 11 | 13 |
176 | Yemen | 16 | 14 | 18 | 19 | 18 | 23 |
177 | Afghanistan | 15 | 15 | 11 | 12 | 8 | 8 |
178 | Syria | 14 | 13 | 18 | 20 | 17 | 26 |
179 | South Sudan | 12 | 11 | 15 | 15 | 14 | |
180 | Somalia | 9 | 10 | 8 | 8 | 8 | 8 |
Credit ratings
The economic “health” of a country is also assessed by financial or credit ratings. They are calculated taking into account the financial history of the state, the size of its property and the ability and desire to pay debts. Such an index is needed to make it clear to potential lenders or investors how safe it is to deal with the country. Financial ratings are assessed by international agencies. Moody's, Standard and Poor's and Fitch have the most serious reputations. They work all over the world and help distinguish reliable partners from unreliable ones. Each of them has its own naming system, but in general, countries with a high degree of commitment are designated by the letter A, those of average and below - Ba, risky - B, with high risk and close to default - C.
№ | A country | Long-term rating | Short term rating |
1 | USA | AAA | F1+ |
2 | Great Britain | A.A. | F1+ |
3 | Germany | AAA | F1+ |
4 | France | A.A. | F1+ |
5 | Japan | A | F1 |
6 | Spain | A- | F1 |
7 | Italy | BBB | F2 |
8 | Portugal | BBB | F2 |
9 | Greece | BB- | B |
10 | Ireland | A+ | F1+ |
11 | Andorra | BBB+ | F2 |
12 | UAE | A.A. | F1+ |
13 | Armenia | B+ | B |
14 | Angola | B | B |
15 | Argentina | B | B |
16 | Austria | AA+ | F1+ |
17 | Australia | AAA | F1+ |
18 | Azerbaijan | BB+ | B |
19 | Bangladesh | BB- | B |
20 | Belgium | AA- | F1+ |
21 | Bulgaria | BBB | F2 |
22 | Bahrain | BB- | B |
23 | Benin | B | B |
24 | Bolivia | BB- | B |
25 | Brazil | BB- | B |
26 | Belarus | B | B |
27 | Canada | AAA | F1+ |
28 | Congo | CC | C |
29 | Switzerland | AAA | F1+ |
30 | Ivory Coast | B+ | B |
31 | Chile | A | F1 |
32 | Cameroon | B | B |
33 | China | A+ | F1+ |
34 | Colombia | BBB | F2 |
35 | Costa Rica | BB | B |
36 | Cape Verde | B | B |
37 | Cyprus | BB+ | B |
38 | Czech | AA- | F1+ |
39 | Denmark | AAA | F1+ |
40 | Dominican Republic | BB- | B |
41 | Ecuador | B | B |
42 | Estonia | A+ | F1+ |
43 | Egypt | B | B |
44 | Ethiopia | B | B |
45 | Finland | AA+ | F1+ |
46 | Gabon | B | B |
47 | Georgia | BB- | B |
48 | Ghana | B | B |
49 | Gambia | CCC | C |
50 | Guatemala | BB | B |
51 | Hong Kong | AA+ | F1+ |
52 | Croatia | BB+ | B |
53 | Hungary | BBB- | F3 |
54 | Indonesia | BBB | F2 |
55 | Israel | A+ | F1+ |
56 | India | BBB- | F3 |
57 | Iraq | B- | B |
58 | Iran | B+ | B |
59 | Iceland | A | F1 |
60 | Jamaica | B | B |
61 | Kenya | B+ | B |
62 | South Korea | AA- | F1+ |
63 | Kuwait | A.A. | F1+ |
64 | Kazakhstan | BBB | F2 |
65 | Lebanon | B- | B |
66 | Sri Lanka | B+ | B |
67 | Lesotho | B+ | B |
68 | Lithuania | A- | F1 |
69 | Luxembourg | AAA | F1+ |
70 | Latvia | A- | F1 |
71 | Libya | B | B |
72 | Morocco | BBB- | F3 |
73 | Moldova | B- | B |
74 | Macedonia | BB | B |
75 | Mali | B- | B |
76 | Mongolia | B | B |
77 | Malta | A+ | F1+ |
78 | Maldives | B+ | B |
79 | Malawi | B- | B |
80 | Mexico | BBB+ | F2 |
81 | Malaysia | A- | F1 |
82 | Mozambique | R.D. | C |
83 | Namibia | BB+ | B |
84 | Nigeria | B+ | B |
85 | Nicaragua | B | B |
86 | Netherlands | AAA | F1+ |
87 | Norway | AAA | F1+ |
88 | New Zealand | A.A. | F1+ |
89 | Oman | BBB- | F3 |
90 | Panama | BBB | F2 |
91 | Peru | BBB+ | F2 |
92 | Papua New Guinea | B+ | B |
93 | Philippines | BBB | F2 |
94 | Pakistan | B | B |
95 | Poland | A- | F2 |
96 | Paraguay | BB | B |
97 | Qatar | AA- | F1+ |
98 | Romania | BBB- | F3 |
99 | Serbia | BB | B |
100 | Russia | BBB- | F3 |
101 | Rwanda | B+ | B |
102 | Saudi Arabia | A+ | F1+ |
103 | Seychelles | BB- | B |
104 | Sweden | AAA | F1+ |
105 | Singapore | AAA | F1+ |
106 | Slovenia | A- | F1 |
107 | Slovakia | A+ | F1+ |
108 | San Marino | BBB- | F3 |
109 | Suriname | B- | B |
110 | Salvador | B- | B |
111 | Thailand | BBB+ | F2 |
112 | Turkmenistan | CCC- | C |
113 | Tunisia | B+ | B |
114 | Türkiye | BB | B |
115 | Taiwan | AA- | F1+ |
116 | Ukraine | B- | B |
117 | Uganda | B+ | B |
118 | Uruguay | BBB- | F3 |
119 | Venezuela | R.D. | C |
120 | Vietnam | BB | B |
121 | South Africa | BB+ | B |
122 | Zambia | B | B |
Rating | Rating value |
AAA | lowest risk, maximum creditworthiness |
AA+ | moderate risk, very high creditworthiness, first level |
AA | moderate risk, very high creditworthiness, second level |
AA- | moderate risk, very high creditworthiness, third level |
A | moderate risk, high creditworthiness, second level |
A- | moderate risk, high creditworthiness, third level |
VVV+ | moderate risk, sufficient creditworthiness, first level |
BBB | moderate risk, sufficient creditworthiness, second level |
VVV- | moderate risk, sufficient creditworthiness, third level |
SSS | high risk and threat of default, significant credit risk |
Index with a “human face”
The past few years have demonstrated the importance of such an indicator of economic development as social progress. The previous indicators corresponded to economic theories, but they did not show how the growth of the economy affects people's lives. Therefore, in 2013, the Social Progress Index was developed as an alternative to economic indicators. Its author is Harvard University professor Michael Porter. This rating is calculated based on the analysis of sociological survey data, expert opinions and statistical information from international organizations. Determining the achievements of each country in this area, the researchers took into account more than fifty factors.
- This is the satisfaction of basic needs - food, water and medical care, housing, a degree.
- Then the fundamental foundations of well-being are taken into account - access to education and information, the level of literacy and communication.
- And, finally, development opportunities are analyzed - the level of protection of civil and political rights and self-realization is determined.
RATING | A COUNTRY | INDEX |
1 | Norway | 90.26 |
2 | Iceland | 90.24 |
3 | Switzerland | 89.97 |
4 | Denmark | 89.96 |
5 | Finland | 89.77 |
6 | Japan | 89.74 |
7 | Netherlands | 89.34 |
8 | Luxembourg | 89.27 |
9 | Germany | 89.21 |
10 | New Zealand | 89.12 |
11 | Sweden | 88.99 |
12 | Ireland | 88.82 |
13 | UK | 88.74 |
14 | Canada | 88.62 |
15 | Australia | 88.32 |
16 | France | 87.88 |
17 | Belgium | 87.39 |
18 | South Korea | 87.13 |
19 | Spain | 87.11 |
20 | Austria | 86.76 |
21 | Italy | 86.04 |
22 | Slovenia | 85.50 |
23 | Singapore | 85.42 |
24 | Portugal | 85.36 |
25 | United States of America | 84.78 |
26 | Czech | 84.66 |
27 | Estonia | 83.49 |
28 | Cyprus | 82.85 |
29 | Greece | 82.59 |
30 | Israel | 82.47 |
60 | Russia | 70.16 |
It is clear from the research we have analyzed that there is a direct link between economic freedom, financial security, standard of living and social progress. Countries such as New Zealand, Australia, Canada, Switzerland, Norway, and the Netherlands lead the way in providing their citizens with decent, civil and political rights, and paying their bills fairly. Little Asian “tigers”: Singapore or Hong Kong, like the oil “millionaires” (UAE, Qatar) are “ahead of the rest of the planet” in terms of economic freedom and per capita income. But countries with strong and efficient economies - the USA, China, Japan, Great Britain, Germany - are distributed in different positions in the ranking, because they are not always able to provide the people living there with a high level of income and opportunities for development.
Developing countries or third world countries characterized by a low level of socio-economic development. Despite their number, vast territory and population (80% of the Earth's population), they account for less than a third.
The main characteristics of a developing country are:
- Colonial or semi-colonial past
- Agricultural and raw material orientation of the economy
- Multistructure of the economy: pre-industrial type of production is adjacent to industrial and post-industrial
- Heterogeneity of the social structure of society
- Poor labor quality
- Social tension
- Dependence on countries with developed market economies, especially on foreign loans
List of developing countries
Developing countries mainly include countries in Asia, Africa and Latin America.
The most advanced in an economic sense are newly industrialized countries(NIS), which achieved high growth rates (more than 7% per year) through the effective use of national competitive advantages (abundance of cheap labor, geographical location) and targeted restructuring of the economy in favor of knowledge-intensive technologies and services.
It is customary to distinguish newly industrialized countries:- First wave: Hong Kong (Hong Kong), South Korea, Singapore, Taiwan;
- Second generation: Argentina, Brazil, Mexico, Malaysia, Thailand, India, Chile;
- Third generation: Cyprus, Tunisia, Türkiye, Indonesia;
- Fourth generation: Philippines, southern China;
Oil producing countries
Oil-producing countries are, first of all, countries that are members of the Organization of Petroleum Exporting Countries (). Due to oil exports, they have a level comparable to developed countries. The one-sided nature of economic development does not allow them to be classified as developed countries.
Name developed countries
50 countries in Africa, Oceania, Latin America. They have an extremely backward patriarchal economy, which is characterized by low GDP per capita (less than $350). The share of the manufacturing industry is less than 10%. Literacy of the adult population does not exceed 20%.
The main economic strategies of developing countries are: nationalization of resources captured by foreign capital, industrialization and sectoral diversification of the economy, protectionism, overvalued exchange rates, import substitution and the development of export-oriented industries. The idea of collective self-reliance implies regional integration of developing countries.
The USA has the most developed economy in the world. Next come China, Japan and Germany.
Rating | Economy | GDP ($ million) |
The whole world | 85,804,390.60 | |
1 | United States of America | 20,494,100.00 |
2 | China | 13,608,151.86 |
3 | Japan | 4,970,915.56 |
4 | Germany | 3,996,759.29 |
5 | UK | 2,825,207.95 |
6 | France | 2,777,535.24 |
7 | India | 2,726,322.62 |
8 | Italy | 2,073,901.99 |
9 | Brazil | 1,868,626.09 |
10 | Canada | 1,712,510.03 |
11 | Russia | 1,657,553.77 |
12 | South Korea | 1,619,423.70 |
13 | Australia | 1,432,195.18 |
14 | Spain | 1,426,189.14 |
15 | Mexico | 1,223,808.89 |
16 | Indonesia | 1,042,173.30 |
17 | Netherlands | 913,658.47 |
18 | Saudi Arabia | 782,483.47 |
19 | Türkiye | 766,509.09 |
20 | Switzerland | 705,501.30 |
21 | Poland | 585,782.87 |
22 | Sweden | 551,031.68 |
23 | Belgium | 531,766.94 |
24 | Argentina | 518,475.13 |
25 | Thailand | 504,992.76 |
26 | Venezuela | 482,359.32 |
27 | Austria | 455,736.58 |
28 | Iran | 454,012.77 |
29 | Norway | 434,750.94 |
30 | United Arab Emirates | 414,178.90 |
31 | Nigeria | 397,269.62 |
32 | Ireland | 382,487.49 |
33 | Israel | 369,690.44 |
34 | South Africa | 368,288.20 |
35 | Singapore | 364,156.66 |
36 | Hong Kong | 362,992.54 |
37 | Malaysia | 354,348.42 |
38 | Denmark | 352,058.41 |
39 | Philippines | 330,910.34 |
40 | Colombia | 330,227.87 |
41 | Pakistan | 312,570.06 |
42 | Chile | 298,231.14 |
43 | Bangladesh | 274,024.96 |
44 | Finland | 273,960.97 |
45 | Egypt | 250,895.47 |
46 | Czech | 245,225.88 |
47 | Vietnam | 244,948.45 |
48 | Romania | 239,552.52 |
49 | Portugal | 237,978.94 |
50 | Iraq | 225,914.18 |
51 | Peru | 222,237.57 |
52 | Greece | 218,031.84 |
53 | New Zealand | 205,024.94 |
54 | Qatar | 192,009.34 |
55 | Algeria | 180,689.12 |
56 | Kazakhstan | 170,538.87 |
57 | Hungary | 155,703.07 |
58 | Kuwait | 141,677.81 |
59 | Ukraine | 130,832.37 |
60 | Morocco | 118,495.33 |
61 | Ecuador | 108,398.06 |
62 | Slovakia | 106,472.19 |
63 | Angola | 105,750.99 |
64 | Puerto Rico | 101,130.90 |
65 | Cuba | 96,851.00 |
66 | Sri Lanka | 88,900.77 |
67 | Kenya | 87,908.26 |
68 | Ethiopia | 84,355.46 |
69 | Dominican Republic | 81,298.59 |
70 | Oman | 79,294.93 |
71 | Guatemala | 78,460.45 |
72 | Myanmar | 71,214.80 |
73 | Luxembourg | 69,487.92 |
74 | Ghana | 65,556.46 |
75 | Bulgaria | 65,132.95 |
76 | Panama | 65,055.10 |
77 | Croatia | 60,805.66 |
78 | Costa Rica | 60,126.01 |
79 | Belarus | 59,662.50 |
80 | Uruguay | 59,596.89 |
81 | Tanzania | 57,437.07 |
82 | Lebanon | 56,639.16 |
83 | Macau | 54,545.18 |
84 | Slovenia | 54,235.48 |
85 | Lithuania | 53,251.37 |
86 | Serbia | 50,508.37 |
87 | Uzbekistan | 50,499.92 |
88 | Libya | 48,319.62 |
89 | Democratic Republic of the Congo | 47,227.54 |
90 | Azerbaijan | 46,939.53 |
91 | Ivory Coast | 43,007.05 |
92 | Jordan | 42,290.83 |
93 | Sudan | 40,851.54 |
94 | Paraguay | 40,842.34 |
95 | Turkmenistan | 40,761.14 |
96 | Bolivia | 40,287.65 |
97 | Tunisia | 39,860.72 |
98 | Cameroon | 38,502.06 |
99 | Bahrain | 37,746.20 |
100 | Latvia | 34,849.08 |
101 | Zimbabwe | 31,000.52 |
102 | Estonia | 30,284.89 |
103 | Nepal | 28,812.49 |
104 | Uganda | 27,476.95 |
105 | Yemen | 26,914.40 |
106 | Zambia | 26,720.07 |
107 | El Salvador | 26,056.95 |
108 | Iceland | 25,882.22 |
109 | Cambodia | 24,571.75 |
110 | Cyprus | 24,469.84 |
111 | Senegal | 24,129.60 |
112 | Honduras | 23,803.23 |
113 | Papua New Guinea | 23,431.60 |
114 | Trinidad and Tobago | 23,410.35 |
115 | Bosnia and Herzegovina | 19,781.78 |
116 | Afghanistan | 19,362.97 |
117 | Botswana | 18,616.02 |
118 | Laos | 18,130.72 |
119 | Mali | 17,196.69 |
120 | Gabon | 17,017.40 |
121 | Georgia | 16,209.82 |
122 | Jamaica | 15,717.86 |
123 | Albania | 15,058.88 |
124 | Palestine | 14,615.90 |
125 | Malta | 14,542.04 |
126 | Namibia | 14,521.71 |
127 | Mozambique | 14,457.96 |
128 | Burkina Faso | 14,441.76 |
129 | Mauritius | 14,220.35 |
130 | Brunei | 13,567.10 |
131 | Equatorial Guinea | 13,317.45 |
132 | Nicaragua | 13,117.86 |
133 | Mongolia | 13,009.57 |
134 | Macedonia | 12,672.13 |
135 | Armenia | 12,433.09 |
136 | Bahamas | 12,162.10 |
137 | Madagascar | 12,100.46 |
138 | Moldova | 11,309.08 |
139 | Chad | 11,302.54 |
140 | Congo | 11,263.68 |
141 | Guinea | 10,989.79 |
142 | Benin | 10,358.99 |
143 | Haiti | 9,658.08 |
144 | Rwanda | 9,509.00 |
145 | Niger | 9,239.51 |
146 | Kyrgyzstan | 8,092.84 |
147 | Kosovo | 7,900.27 |
148 | Tajikistan | 7,522.95 |
149 | Malawi | 7,064.97 |
150 | Isle Of Man | 6,592.63 |
151 | Monaco | 6,400.95 |
152 | Liechtenstein | 6,214.63 |
153 | Guam | 5,859.00 |
154 | Fiji | 5,479.50 |
155 | Montenegro | 5,452.17 |
156 | Mauritania | 5,365.87 |
157 | Togo | 5,300.21 |
158 | Maldives | 5,272.29 |
159 | Somalia | 4,721.00 |
160 | Swaziland | 4,703.79 |
161 | Barbados | 4,673.50 |
162 | Sierra Leone | 3,999.95 |
163 | US Virgin Islands | 3,855.00 |
164 | Guyana | 3,610.44 |
165 | Cayman Islands | 3,570.58 |
166 | Suriname | 3,427.27 |
167 | Liberia | 3,249.00 |
168 | Andorra | 3,236.54 |
169 | Curacao | 3,116.61 |
170 | Burundi | 3,078.03 |
171 | South Sudan | 3,070.89 |
172 | Lesotho | 2,791.76 |
173 | Greenland | 2,713.53 |
174 | Aruba | 2,700.56 |
175 | Faroe islands | 2,689.16 |
176 | Eritrea | 2,607.74 |
177 | Timor-Leste | 2,581.00 |
178 | Butane | 2,534.97 |
179 | Central African Republic | 2,379.72 |
180 | Cape Verde | 1,986.93 |
181 | Djibouti | 1,965.98 |
182 | Belize | 1,925.00 |
183 | Saint Lucia | 1,876.19 |
184 | San Marino | 1,632.86 |
185 | Gambia | 1,624.46 |
186 | Antigua and Barbuda | 1,623.80 |
187 | Northern Mariana Islands | 1,593.00 |
188 | Seychelles | 1,590.18 |
189 | Guinea-Bissau | 1,458.16 |
190 | Solomon Islands | 1,411.90 |
191 | Grenada | 1,207.45 |
192 | Comoros | 1,203.08 |
193 | Saint Kitts and Nevis | 1,039.88 |
194 | Turks and Caicos | 1,022.31 |
195 | Vanuatu | 887.82 |
196 | Samoa | 861.49 |
197 | Saint Vincent and the Grenadines | 813.09 |
198 | Eastern Samoa | 634.00 |
199 | Dominica | 503.65 |
200 | Tonga | 450.35 |
201 | Sao Tome and Principe | 422.30 |
202 | Micronesia | 344.50 |
203 | Palau | 310.11 |
204 | Marshall Islands | 211.52 |
205 | Kiribati | 188.28 |
206 | Nauru | 114.72 |
207 | Tuvalu | 42.59 |
Each individual country has its own economic policy, which inherently has both strengths and weaknesses. If the state is rich in minerals, then most often the economy is built on the export of resources, which weakens the production component.
10 largest world economies in 2018
USA
The most stable economy in the world belongs to the United States; it has maintained its leading position for more than 100 years. A comprehensively developed economic policy is based on the banking system, the largest stock exchange, advanced technologies in the field of IT and agriculture, which is not devoid of innovative solutions and progress.
America, due to its significant coverage of areas of activity and advanced technologies in them, has great influence in the world and uses it.
The dollar has been a world currency for many years and is quoted in all countries. for 2019 amounted to $20.494 trillion, which allows us to understand why the US economy is the first, leading the ranking.
China
The fastest growing economy, capable of soon ousting America and moving it from its leading position in the TOP of the world's largest economies. Industry, agriculture and technology are rapidly expanding in China. The automotive market is larger than the American and Japanese combined.
Chinese clothing and equipment enter the markets of most countries, and exports in all directions are very developed. China provides food for 1/5 of the world's population, while using only 9% of the land intended for agriculture.
GDP growth is 10% annually, which gives America cause for concern. is represented in the TOP economies of the world by China, as the strongest and most developed power, the rest of Asia has weaker indicators.
Despite the crisis that Europe has been experiencing in recent years, it still stands on its feet and ensures annual GDP growth, which currently amounts to $3.996 trillion.
Great Britain
The economy of Western Europe, represented by the participating countries, presents a blurred picture, but the undisputed leader is, which is included in the overall ranking for all countries of the planet. The country is poor in natural resources, so its economic policy is based on services, industry and tourism.
Regarding industry, the leaders are the following areas: aviation and pharmaceuticals, as well as the automotive industry and the textile industry. The UK attracts investment from business representatives from other countries with its liberal banking policy, which allows for money laundering.
But in 2018, the country leaves the country, and experts find it difficult to guess what damage this will bring to the state’s economy and how its position in the world will change.
Which ones can be found on our website.
France
The country's economic position has been achieved thanks to the industrial-agrarian policy. Through agriculture, France supplies EU countries with products, and this state accounts for ¼ of all supplies.
The country's best attendance figures were achieved largely thanks to the Eiffel Tower, its recognition and the atmosphere of romance associated with it.
But having a high number of visitors to the country, it does not rely on tourism. The fact is that the funds left by tourists in the country are smaller compared to America, this is due to the fact that tourists do not stay in France, but after seeing the main attraction, they leave for neighboring countries. France's GDP currently stands at $2.777 trillion.
It is possible on our website.