The Organisation for Economic Co-operation and Development (OECD) is an international, intergovernmental economic organization of 38 countries.
OECD was founded in the year 1961 to stimulate world trade and economic progress.
Most OECD members are high-income economies with a very high Human Development Index (HDI) and are considered developed countries.
OECD members are democratic countries with free-market economies.
The OECD serves as a platform for member countries to compare policy experiences, address common problems, share best practices, and coordinate domestic and international policies.
The OECD is an official Permanent observer to the United Nations and is known as a think-tank or monitoring group.
The headquarters of the OECD are located at the Château de la Muette in Paris, France.
In 2017, OECD member states collectively accounted for 62.2% of global nominal GDP (US$49.6 trillion) and 42.8% of global GDP (Int$54.2 trillion) at purchasing power parity.
COMMENTS