[[image:CountryIncome.PNG|thumb|right|350px|legend: High income legend: Upper-middle income legend: Lower-middle income legend: Low income]] [[image:Imf-advanced-un-least-developed-2008.svg|thumb|350px|legend: Advanced economies legend: Emerging and developing economies (not least developed)

Developing countries are countries that haven't reached a current standard of country development, ie government etc.

Countries with more advanced economies than other developing nations, but which have not yet fully demonstrated the signs of a developed country, are grouped under the term newly industrialized countries. Other developing countries which have maintained sustained economic growth over the years and exhibit good economic potential are termed as emerging markets. The Big Emerging Market (BEM) economies are Argentina, Brazil, China, Egypt, India, Indonesia, Mexico, Philippines, Poland, Russia, South Africa, South Korea, and Turkey. The application of the term developing country to any country which is not developed is inappropriate because a number of poor countries have experienced prolonged periods of economic decline. Such countries are classified as either least developed countries or failed states.

Development entails a modern infrastructure (both physical and institutional), and a move away from low value added sectors such as agriculture and natural resource extraction. Developed countries, in comparison, usually have economic systems based on continuous, self-sustaining economic growth in the tertiary and quaternary sectors and high standards of living.

Measure and concept of development

The development of a country is measured with statistical indexes such as income per capita (per person) (GDP), life expectancy, the rate of literacy, et cetera. The UN has developed the HDI, a compound indicator of the above statistics, to gauge the level of human development for countries where data is available.

Developing countries are in general countries which have not achieved a significant degree of industrialization relative to their populations, and which have, in most cases a medium to low standard of living. There is a strong correlation between low income and high population growth.

The terms utilized when discussing developing countries refer to the intent and to the constructs of those who utilize these terms. Other terms sometimes used are less developed countries (LDCs), least economically developed countries (LEDCs), "underdeveloped nations" or Third World nations, and "non-industrialized nations". Conversely, the opposite end of the spectrum is termed developed countries, most economically developed countries (MEDCs), First World nations and "industrialized nations".