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".

BREAKING DOWN '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.

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