Is Venezuela an LEDC?
Well there have been many discussions about whether it is because it is quite a rich country. But when you compare it to the UK, the GNP in 1999 in the UK was 1338.1 billion dollars while in Venezuela it was 87.0 billion dollars. So it is still considered an LEDC but is developing.
Venezuela is not an LEDC because it has one of the biggest oil reserves in the world and is one of the leading oil exporters. It has had some phases of economic turmoil, but it still remains a relatively developed country. Read More
Yes... It is an LEDC... . Africa is NOT an LEDC as it is a CONTINENT! A whole CONTINENT cannot be an LEDC. The majority of countries in Africa are LEDC's though. Read More
Mexico is normally accepted as an LEDC but like other countries it is "on the border" of LEDC as it is evolving but the average comes over as LEDC. Read More