Developed nation

Developed nations are countries that have achieved (currently or historically) a high degree of industrialization, and which enjoy the higher standards of living which wealth and technology make possible. There is a strong correlation between countries having this type of status and their possessing robust democratic institutions.

Countries not belonging in this category are sometimes euphemistically called developing nations, underdeveloped nations, or, in extreme cases least developed countries. Other terms sometimes used to describe the dichotomy are first world/third world (the second world was once reserved for Communist countries), North/South, or industrialized countries/non-industrialized countries. The term Western countries has similar, though not identical, connotations.

According to the UNEP DTIE OzonAction Programme[1], memberships of OECD and the United Nations Human Development Index for 2003, the following countries are considered developed nations.

And according to the International Monetary Fund, the following are also considered developed nations.

Andorra
Bermuda (overseas dependency)
Republic of China (aka Taiwan)
Faroe Islands (overseas dependency)
Hong Kong (dependency)
Liechtenstein
Monaco
San Marino
Singapore