What is the difference between developed countries and developing countries?
United Nations have grouped countries as either developed or developing based on economic status like GDP, GNP, per capita income, industrialization, the standard of living, etc.
The lesson provides a detailed insight into the difference between developed countries and developing countries in a tabular form. Let’s find out:
What Are Developed Countries?
Developed countries refer to sovereign states whose economy is far much better in terms of technological infrastructures.
Most of these countries are referred to as first world countries since they are self-sufficient. Examples of such countries are Australia, Canada, France, Germany, Italy, Japan, Norway, Sweden, Switzerland, and the United States.
Main Features of Developed Countries
What Are Developing Countries?
Developing countries are those countries with low human development and industrialization index. These countries are also known as third world countries.
These countries are not self-sufficient and this implies that they rely on developed countries. Examples of developing countries are Colombia, India, Kenya, Pakistan, Sri Lanka, Thailand, and Turkey.
Main Features of Developing Countries
Comparison Chart: Developed Countries vs Developing Countries
Basic Terms | Developed Countries | Developing Countries |
Definition | Are countries with high industrialization and individual income | Are countries with low per capita income and a slow rate of industrialization |
Unemployment Rate and Poverty | Low | High |
Living Condition | Good | Worst |
Source of Income | Industrial sectors | Service sector |
Reliance | Self-reliance | Depend on developed countries |
Standards of living | High | Low |
Distribution of income | Equal | Unequal |
Impact | Low birth mortality rate, increase life expectancy, and low death or birth rate | High infant mortality rate, high death and birth rate, low life expectancy |
Factors of Production | Effectively utilized | Not utilized well |
Examples | Australia, Canada, France, Germany, Italy, Japan, Norway, Sweden, Switzerland, United States. | Colombia, India, Kenya, Pakistan, Sri Lanka, Thailand, Turkey. |
Core Differences Between Developed and Developing Countries
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Comparison Video
Summary
The core difference between developed countries and developing countries is that developed countries are self-sufficient while developing countries are dependent on developed countries.
More Sources and References
- Developing Country. Wikipedia
- Developed and Developing Countries. Investopedia
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