What Are Economic Activities Of Developing Countries?


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Alex Wheeler Profile
Alex Wheeler answered
Developing countries have many different economic activities, depending on the country in question.
In most cases, developing countries focus on primary and labour intensive industries, such as farming, fishing or mining. These activities are the ones that involve the least education and the least amount of expertise and skills and therefore can be done easily with little investment.

Developing economic countries also have very local economies and much of what is spent in an area continues to stay in that area via the circular flow of money. This means that they can have strong local economies. There is also an onus on small local retailers and small businesses that are run by families. Many of these are one off businesses where many relations may work together.

Developing economies will, in a lot of cases, have plenty of raw materials that developed countries will want; this will mean that there is much exploitation of natural recourses with as little concern for resources, the environment, health and safety and overall long term planning.

In the recent past, large economies such as China have invested large amounts of cash into these economies in order to have first opportunities on the countries’ natural resources for their own economies.

In many of these countries there is an onus on development and new educational, infrastructural and other developmental happenings. While these initiatives are occurring, it is not at the rate of developed countries.

Many developing countries have large debt problems caused by huge loans taken out in uncertain political environments to fund errand projects. For this reason much of the GDP earned by these countries goes on serving the interest on this debt and so causes the countries to permanently be stuck in a debt and having to repay debt.
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