10 Facts about MEDC Countries

Post On: February 2, 2018
By: Andi
In: Social

You will find some fun facts about MEDC countries in this article. MEDC is the abreviation of More Economically Developed Country. The indicators were used namely gross domestic product (GDP), gross national product (GNP), per capita income, level of industrialisation, amount of widespread infrastructure and general standard of living. Here are the other facts about MEDC countries.

Facts about MEDC Countries 1: Compulsory Education

Based on the NationMaster data statistics, MEDC countries have long duration in education. For instance, Germany having up to 13 years for fulfillment primary education. In addition, the United States spent enormous of funding, in 2001, the USA used funding for education reached roughly 500 billion USD, followed by Japan, Germany and France.

Facts about MEDC Countries 2: MEDCs Education System

MEDCs have education systems in place and usually conduct classes indoors in traditional classroom settings. Based in Richard in 2009, in Britain started attending primary school at the age of four, and the age of six in the USA (The U.S education system, 2011) and  Belgium (Belgium : Institution types and credential, 2011). Benavot in 2004 generalised that on average countries obligated that children spend about 750 hours per year in primary school classrooms.

Advance Economy Countries Based on World Bank, 2016

Facts about MEDC Countries 3: Human Development Index (HDI)

HDI has a strong and positive relationship with prosperous economy. The UN HDI is a statistically measurement which gauges a level of countrys’ human development. There are some countries which usually had highest score of HDI since 1990, such as Norway, Japan, Canad and Iceland.

Facts about MEDC Countries 4: World Bank High-Income Economies

In 2016, the data based on World Bank released and it described about the map of countries list that have higher income. It concluded that there were 78 countries which is categorised as a high-income. Most of countries in USA, North America, Europe, Japan, South Korea, Australia and New Zealand have been classified as a high income country.

Facts about MEDC Countries 5: International Monetary Fund (IMF) Advance Economies

According to IMF analysis, there are 39 countries classified as advance economies, such as, Australia, Austria, Belgium, Canada, Denmark, Ireland, Hong Kong, Japan, Latvia, Netherland, New Zealand, Norway, Puerto Rico, Singapore, Slovenia, Sweden, Taiwan, U.K, and U.S.

Facts about MEDC Countries 6: High-income OEDC Members

Based on high-income OEDC category, there are 25 that have been identified as advance economies. For example, Austria, Belgium, Estonia, Finland, Hungary, Italy, Latvia, Greece, Czech Republic, Netherlands, Spain, United Kingdom, Switzerland, Poland, Slovakia, Slovenia, Portugal, and such like.

High-Income Countries According to IMF

Facts about MEDC Countries 7: Development Assistance Committee Members

Development Assistance Committee (DAC) is a countries group as the worlds’ major donor countries that discuss issues surrounding development aid and poverty reduction. There are 23 countries that following OEDC member are DAC members, such as Austria, Belgium, Denmark, Czech Republic, Finland, France, Germany, Hungary, Netherlands, Norway and Poland.

Facts about MEDC Countries 8: Paris Club Members

Paris Club is a group of creditor countries. There are 15 countries in Europe (e.g. Austria, Belgium, Denmark, France, Germany, etc), 3 countries in Asia (e.g. Israel, Japan, South Korea), two countries in North America (e.g. Canada and USA), 1 country in Oceania and South America namely Australia and Brazil respectively.

Facts about MEDC Countries 9:  Disposable Income per Capita (OEDC)

Disposable income per capita describes a national accounts derived indicator based on adjusted gross income, that is defined as the balance of primary incomes of an institutional unit or sector by adding all current transfers, except social transfers. The USA, Switzerland, Norway and etc represented as PPPs.

Countries list of Development Assistance Committee

Facts about MEDC Countries 10: LEDC

LEDC is the opposite of MEDC or the abreviation for Less Developed Countries. MEDCs are mostly a wealthy and rich countries while LEDCs are relatively poorer countries.

Facts about MEDC countries was told above, do not you interest?