According to UNO, "An underdeveloped country is one in which per capita real income is low when compared with the per capita real income of U.S.A., Canada, Australia, and Western Europe." But this measuring rod of defining underdeveloped country is not justified because many countries, particularly oil producing and oil exporting countries, do possess much higher level of per capita income, even then they cannot be termed as 'developed countries' due to lack of industrialisation.
The World Bank classified the various countries on the basis of Gross National Product (GNP) per capita. this classification includes three categories of countries -
1) Low income economies
2) Middle income economies
3) Higher income economies
In World Development Report 2010 - (Theme: Development & Climate Change) countries were classified into three categories: low income, middle income & high income countries. Low income countries are those economies where GNP per capita is either $ 975 or lower to it in 2008. Middle income economies possess GNP per capita between $ 976 to $ 11905 lastly high income economies with GNP per capita $ 11906 and above. A further division of GNI per capita $ 3855 is made between lower-middle-income and upper-middle-income economies.
The World Bank classified the various countries on the basis of Gross National Product (GNP) per capita. this classification includes three categories of countries -
1) Low income economies
2) Middle income economies
3) Higher income economies
In World Development Report 2010 - (Theme: Development & Climate Change) countries were classified into three categories: low income, middle income & high income countries. Low income countries are those economies where GNP per capita is either $ 975 or lower to it in 2008. Middle income economies possess GNP per capita between $ 976 to $ 11905 lastly high income economies with GNP per capita $ 11906 and above. A further division of GNI per capita $ 3855 is made between lower-middle-income and upper-middle-income economies.
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