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Graduate from Least Developed Countries
March 17 , 2023
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- Bhutan become the seventh nation to graduate from the United Nations’ (UN) list of Least Developed Countries (LDC).
- Bangladesh, Laos, and Nepal were suggested for deletion from the list at the UN’s triennial review of LDC nations in 2021.
- In 1971, Bhutan was added to the initial list of LDCs.
- Bhutan first achieved graduation criteria in 2015 and then again in 2018.
- Bhutan was so expected to complete its graduation in 2021.
- With an average annual growth rate of more than 7 per cent, Bhutan’s economy has grown more than eight times in the previous 20 years.
- Its hydropower exports to India currently make about 20% of its economy.
- UN definition for LDC: A country that exhibits the lowest indicators of socio economic development, with low levels of income, human capital, and economic diversification, high levels of economic vulnerability, and a population that is disproportionately dependent on agriculture, natural resources, and primary commodities.
- The UN now recognises 46 nations as LDCs.
- One from the Caribbean, 9 from Asia, 33 from Africa, and 3 from the Pacific region make up the remaining group.
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