The term “Second World” can be best defined as countries that are stable than the third world countries but unstable than the developed countries. In other words, we can say that the second world countries are those nations which are thriving to become developed nations. Second world countries are also those which were controlled by the Soviet Union. Second world is still used to describe former communist countries that are in between prosperity and poverty and are now currently capitalist states.
Second World Countries
Here we have gathered a list of 2nd world countries in order to explain further why they are divided in these categories:
Like other former nations, Armenia also suffers from the legacy of a planned economy and the breakdown of the Soviet trading patterns. The earthquake of 1988’s effects can still be seen in the country, however, since 1995, the country has registered strong economic growth and new sectors like communication technology and jewelry making have emerged which have earned Armenia an increasing support from the international institutions.
The economy of Bulgaria follows the concept of free market where they have a large private sector and small public one. According to the World Bank, Bulgaria is regarded as an industrialized upper middle income country hence, a second world country. Their economy has experienced a quick growth in the past years where their GDP per capita has increased at a proportional rate. The strongest sectors of the country are machine building, mining, agriculture, tourism and energy.
3. Czech Republic
The reason why Czech Republic is known as a second world country and not a third world country is the fact that it has developed an advanced social market economy and policies which have supported high income welfare state. Having a low unemployment rate of 3%, second lowest rate of poverty and Germany as their largest trading partner, Czech Republic is now moving towards a modern state. The industries on which the country’s economy depends upon are metal working, steel production, ceramics, metal production, pharmaceutical, electronics and transportation equipment.
Hungary is a high income mixed economy with a very high human development index and a skilled labor force. The Hungarian economy is ranked as 57th in the world by the International Monetary Fund out of 188 countries (Wikipedia). This export oriented economy relies mostly on foreign trade which is why it is ranked as 35th largest economy in the world. The nation continues to be one of the leading countries in Eastern and Central Europe for drawing interest in foreign direct investment.
Poland is one of those countries that is a part of European Union where it is ranked as number 6th on the basis of having largest economy. From the past 26 years, if one checks out the economic trend of the country, it can be seen that the Polish economy has been growing with a high record in the EU. The GDP per capita of Poland has been growing by 6% per year since the last 20 years, perhaps, the most impressive performance in Central Europe by any country.
Romania is a fast developing upper middle income mixed economy that has a skilled labor force and a very high human development index rate that makes it a second world country. The Romanian economy is the 41st largest economy in the world and is expected to grow by 6% in 2017. Like Hungary, Romania is also one of those countries that is known for attracting foreign direct investment. The main reasons why growth in the economy can be seen is because of the research and electronics manufacturing.
The vast geography of Russia is one of the factors why there is an increasing trend in the economy of the country where sources say that Russia contains around 30% of the world’s natural resources. Since 2000’s, Russia has seen a vast growth where energy exports powered an increase in the real disposable income and an increase in the overall living standards of the people. Russian economy is the 12th largest at the market exchange rates. Such factors are what make it a growing economy.
Slovenia is regarded as a developing nation because of the stability its economy enjoys in terms of its GDP per capita. The highly educated workforce, skilled labor force, well developed infrastructure and its location as a major transport crossroad are the reasons why one can see Slovenia as a prosper nation (Wikipedia). Even though Slovenia is one of those nations that has been highly affected by the global financial crisis in 2008, but now it can be seen since the last 5 years that there has been a boom in the economy and the country is rising up again.
Turkmenistan is among those nations which has the world’s fastest growing economies. Although it is mainly a deserted country, agriculture in irrigated areas and dependence on oil and gas is what they do. Turkmenistan is as country that is ranked number 4th in the world in terms of natural gas. Besides that, it is also included in the list of top ten cotton producing countries.
Uzbekistan is one of the most determined countries in the world where since it gained independence, the country stated and showed its commitment to a gradual transition to a market based economy. Working closely with the IMF, the government has made a progress with the budget deficit and inflation. However, a structural reform is still needed in the areas of investment, banking system and freeing the agricultural sector from the government control.
Source: Nations Online
|Countries||Region||GDP per Capita ($)|
|Czech Republic||Eastern Europe||18,266|
|Kazakhstan||South Central Asia||7,510|
|Kyrgzstan||South Central Asia||1,077|
|Tajikistan||South Central Asia||795|
|Turkmenistan||South Central Asia||6,389|
|Uzbekistan||South Central Asia||2,110|
All the countries in the world are classified in three broad categories, first world, second world and third world countries on the basis of their economic country conditions. The progress by these second world countries can be seen as above which is why it can be said that in no time if these nations continue to progress the way are already doing, they will soon be known as developed nations instead of the developing nations. If you are interested in finding first and third world countries, see below links in other interesting section.
- List of Developed and Developing Countries
- List of Third World Countries
- List of First World Countries