The United Nations (UN) classifies countries on the basis of their economic condition, industrialization, poverty- employment rate, GDP, GNP, and the standard of living. The countries on the basis mentioned above are mainly divided into categories like developed countries, developing countries, economies in transition, and fuel-exporting countries. Two of the most prominent economies worldwide are the developed and developing countries. As both the words tells that one shows the mark of achievement of the development and the other refers to the journey en route towards getting developed status. The developed countries are the countries which have a higher standard of living, higher per capita income level and stability in their economic condition. On the other hand, developing countries are the countries having a moderate standard of living, low per capita income level with the slow rate of industrialization. Infant mortality, death rate and the birth rate are quite high in the developing countries, whereas developed countries have elite facilities and have higher life expectancy rate.
What are Developed Countries?
Developed countries refer to the countries who have already got massive development with terms to their economy, education, employment, sense of security. The countrymen of developed countries enjoy the higher per capita income level and have more stability in their economic sector. In other word developed countries are also called ‘post-industrial country’ and ‘first-world country. The income of such countries doesn’t depend on the agriculture sector as they have a top-modernized industrial sector which generates most of the money. The developed countries have higher Human development index (HDI), GDP and GNP, and capita income level. That means the people of the developed countries are well secured economically and no sudden collapse can take place in their economy as they are not the fuel exporter or the agriculture depending countries. Other than that, the developed countries have a higher standard of living regarding the education, medical facilities and also have higher life expectancy rate. The infant mortality, death rate, and birth rate are quite low as compared to the least developed or developing countries.
What are Developing Countries?
Developing countries refers to the countries which are under process regarding development. Their GDP, per capita income level is far more than the poverty countries, and at the same time it is far low from the developed countries. According to the UN, a developing country is a country with a relatively low standard of living, undeveloped industrial base, and moderate to low Human Development Index (HDI).The developing countries are most depended on the agriculture sector or the service sectors for the income and not have a much stable economy. The living conditions are from low to moderate, and unequal distribution of income are the other features of such countries. Directly or indirectly, developing countries are dependent on the developed countries for the sake of their economic growth. The developing countries have low life expectancy rate, and have higher birth and death rate. The infant mortality rate in developing countries is also more as compared to the developed countries as the insufficient facilities are present in the health sector and unemployment and poverty are more at the same time.
Developed Countries vs. Developing Countries
- The developed countries are the countries which have a higher standard of living, higher per capita income level and stability in their economic condition. On the other hand, developing countries are the countries having a moderate standard of living, low per capita income level with the slow rate of industrialization.
- The unemployment and poverty rate are quite low in developed countries as compared to the developing countries.
- Developed countries generate revenues through the industrial sector, whereas developing countries fill their banks through their agriculture and service sectors.
- Developed countries have stable economic growth and are not dependent on others while directly or indirectly, developing countries are dependent on the developed countries for economic growth.
- The standard of living is quite high in the developed countries as they have an equal distribution of income, whereas the standard of living of developing countries is in between low and moderate as there is an unequal distribution of income.
- Infant mortality, birth rate and death rate are low in the developed countries and at the same time they have higher life expectancy rate.