A developed country is a state that has a highly developed economy and advanced technological infrastructure relative to other less industrialized nations. These are also known as industrialized country, or "more developed country" (MDC), Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate.
Developed countries have post-industrial economies, meaning that their service sector provides more wealth than the industrial sector. These are those countries in which the process of industrialization, or undeveloped countries, which are pre-industrial and almost entirely agrarian. According to the International Monetary Fund, advanced economies comprise 65.8% of global nominal GDP and 52.1% of global GDP in 2010.
In 2012, the ten largest advanced economies by nominal GDP are the United States, Japan, Germany, France, the United Kingdom, Italy, Canada, Australia, Spain and South Korea.
