Since 1971, the United Nations has recognized least developed countries (LDCs) as a category of States that are deemed highly disadvantaged in their development process, for structural, historical and also geographical reasons.
LDCs face more than other countries the risk of deeper poverty and remaining in a situation of underdevelopment. More than 75 per cent of the LDCs' population still live in poverty.
These countries are also characterized by their vulnerability to external economic shocks, natural and man-made disasters and communicable diseases. As such, the LDCs are in need of the highest degree of attention from the international community.
Currently, the 47 LDCs comprise around 880 million people, 12 per cent of the world population, which face severe structural impediments to growth. However, the LDCs account for less than 2 per cent of world GDP and around 1 per cent of world trade.
