Learn more. ’ means a country with a. Click here to search for "" within less developed country Definitions These opportunities could lead to additional outsourcing by … Eight more least-developed countries are negotiating to join the WTO. List of the least developed countries in the world. The country doesn’t enjoy the better standard of living because of the differences between having and have not. Table 3.3 reveals that, a large development gap exists between low income countries (with $ 1,035 PPP or less) and high income developed countries (with $ 12,615 PPP or above) in 2012. Less developed countries are countries considered to be poor and often contain many people who are in absolute poverty. A country is classified among the Least Developed Countries if it meets three criteria: Poverty – adjustable criterion based on GNI per capita averaged over three years. MEDCs are also called developed or industrialized countries, or MDCs (more developed countries). Afghanistan Angola Bangladesh Benin Bhutan Burkina Faso Burundi Cambodia Central African Republic Chad Comoros Democratic Republic of the Congo Djibouti Eritrea Ethiopia Gambia Guinea Guinea-Bissau Haiti Kiribati Lao People’s Democratic Republic Lesotho Liberia Madagascar Malawi Mali Mauritania Mozambique Mya Terms such as third world, poor, developing nations, and underdeveloped have also been used to describe less developed countries. One of the world's poorest nations, typically small in area and population, with low per capita incomes, literacy levels and medical standards, subsistence agriculture and a lack of exploitable minerals and competitive industries. Developed countries have post-industrial economies, which means that the service sector becomes more important, and the industrial sector is less important. More developed country. They have improper government and unstable political system. a country with low per capita gross national product. Developed countries generally adopt free-trade and free-market principles for faster economic development. ‘In less-developed countries the picture is much worse.’ ‘For the most part, only wealthy countries with well-developed financial systems participated; smaller and less-developed countries were mainly absent from these discussions.’ Find Out less developed country -noun See definition in Dictionary economics a fairly poor country without much industrial development. The United Nations identifies the United States, Canada, Japan, Australia, New Zealand, and all the countries of Europe as MEDCs. As of 2018 a country must have GNI per capita less than US$ 1,025 to be included on the list, and over $1,230 to graduate from it. Although many contemporary scholars argue that "Third World" is outdated, irrelevant or inaccurate, others may use the term "Fourth World" in reference to least developed countries. Meaning of Least Developed Countries. 1. However, this definition is not universally agreed upon. The terms more developed countries (MDCs) and less developed countries (LDC) were coined by economists to classify the world's 183 countries on the basis of economic development (average annual per capita income and gross national product).The 33 countries (including the United States, Canada, Japan, Australia, New Zealand and all the western European countries… The resulting impacts are estimated to cause about 25% of death and disease globally, reaching nearly 35% in … Developed countries may see opportunities in the growing stability of a newly industrialized country. The term low and middle-income country (LMIC) is often used interchangeably but refers only to the economy of the countries. Again, the countries were classified as poor and rich on the basis of per capita real income. Less Developed Country A country with lower GDP relative to other countries. Developed countries help less developed or developing countries in various humanitarian as well as developmental causes. Developing countries are countries like India, which are gaining in wealth. From longstanding to emerging hazards, environmental factors are a root cause of a significant burden of death, disease and disability – particularly in developing countries. Countries are divided into two major categories by the United Nations, which are developed countries and developing countries. Less developed countries depend upon the policies of the developed countries to support them establishing industries across the country. Definition of Least Developed Countries in the Definitions.net dictionary. There is also no clear agreement on which countries fit this category. They are: Bhutan, Comoros, Ethiopia, Sao Tomé & Principe, Somalia, South Sudan, Sudan and Timor-Leste. Less developed country synonyms, Less developed country pronunciation, Less developed country translation, English dictionary definition of Less developed country. There are two types of poverty within the world. In low income countries containing 846 million population average per capita income of $ 1,387 PPP as against average per capita income of $ 37,760 PPP of high income countries having population of 1,302 … A developing country is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries. Countries with less developed economies are called less economically developed countries (LEDCs). Less developed countries often undertake programs of development, with greater or lesser interventions on the part of the national governments. The Least Developed Countries (LDCs) 2. omegawiki.org. underdeveloped country definition: a country that is less developed economically than most others, with little industry and little…. Definition of Less developed country (LDC): A country showing: (1) a poverty level of income; (2) a high rate of population increase; (3) a substantial portion of its workers employed in Least developed countries: UN classification from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). less-developed country meaning: a country that does not have a lot of industrial activity and where people have low incomes: . less developed country Definitions. Less-Developed Countries (n.). Countries in the process of change directed toward economic growth, that is, an increase in production, per capita consumption, and incomeThe process of economic growth involves better utilization of natural and human resources, which results in a change in the social, political, and economic structures.