Lesser-Developed Country - LDC
Definition of 'Lesser-Developed Country - LDC'
A country that is considered lacking in terms of its economy, infrastructure and industrial base. The population of a lesser-developed country often has a relatively low standard of living, due to low incomes and abundant poverty.
Also referred to as "emerging markets".
Investopedia explains 'Lesser-Developed Country - LDC'
A lesser-developed country is usually poor, as measured by per capita gross domestic product, and unmodernized. LDCs rely primarily on agriculture as a source of income and industrial practices usually contribute to less than 10% of the nation's GDP.
Many African and Arab nations are considered to be lesser-developed countries.