Classification of countries can be done on whether they are developed or developing countries.
A sovereign state that does not have many developed industries and has less HDI (Human Development Index) compared to others then it is referred to as a developing country. It can be classified into different groups, including landlocked developing countries, low-income developing countries, and least developed countries. However, the UN and the World Bank classify which countries fall under developing countries.
On the other hand, a developed country, which is also knowns as a high-income country, industrialized country, advanced country, or an MEDC (more economically developed country), is a country that, as the name suggests, have a developed economy, a high-quality life, advanced infrastructure of technology and industries as compared to developing or less industrialized countries. The list of countries is classified under these segments based on different factors decided by the UN and the World Bank.
The world economic situation and prospects report are produced annually by the United Nations Department of Economic and Social Affairs. This divides the states into different categories: developed countries, developing countries, or economies in transition. This classification is based on GNI (Gross National Income) per capita. There are subgroups identified by the UN that depends upon geographical locations and have outlined Africa, South Asia, Western Asia, East Asia, the Caribbean, and Latin America as developing economies. While as per the report of 2019, Europe, Asia, the Pacific, and North America are under the category of developed countries. So, developing countries and economies in transition are in Asia, Africa, the Caribbean, and Latin America.
The classification of countries by the World Bank is also one the basis of per capita of GNI. the countries are classified as high-income economies, upper-middle-income economies, lower-middle-income economies, and low-income economies. It also has regions that include North America, Europe and Central Asia, South Asia, East Asia and Pacific, Middle East and North Africa, Sub-Saharan Africa, Latin America and the Caribbean. The World Bank also distinguishes countries based on their operational policies. These include IBRD (Internation Bank for Reconstruction and Development) countries, Blend Countries, and IDA (International Development Association) countries.
There is a total of 7 continents and 195 countries in the world, which does not include territories. Following is the list of countries based on the seven continents.
As of now, no country is considered to be in Antarctica. But seven countries have regions: New Zealand, Australia, France, Norway, the United Kingdom, Chile, and Argentina.
A list of countries is common general knowledge that everyone needs to know. The number of countries might change from time to time, so it is also important to keep an update. As countries are also classified based on their development progress, this classification also gets updated.
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