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What does OECD stand for, and what does it do?
OECD stands for the Organisation for Economic Co-operation and Development. Its Convention sets out three broad aims: to promote sustainable economic growth and employment and rising living standards in member countries; support sound economic expansion in member and non-member economies that are developing; and expand world trade on a multilateral, non-discriminatory basis. The OECD Convention is the organisation’s founding treaty.
In practice, the OECD supports governments with comparative analysis, policy recommendations, standards and international cooperation. Its work spans areas including economics, trade, education, taxation, the environment and artificial intelligence. It does not govern its members or replace national governments. The Convention does, however, allow for certain binding decisions in specific circumstances, alongside recommendations and agreements; describing every OECD output as merely advisory would be inaccurate.
Which countries are OECD members?
The OECD currently lists 38 member countries. Membership is a formal status: an accession candidate or a country that works closely with the organisation is not a member unless it has joined.
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| Region | OECD member countries |
|---|---|
| Americas | Canada, Chile, Colombia, Costa Rica, Mexico, United States |
| Asia-Pacific | Australia, Japan, Korea, New Zealand |
| Europe | Austria, Belgium, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Türkiye, the United Kingdom |
| Middle East | Israel |
These are the 38 countries on the OECD’s members and partners page. The European Union also participates in OECD work under Supplementary Protocol No. 1 to the Convention, but it is not counted as a member country.
Members, candidates and partners are different categories
The OECD identifies Brazil, China, India, Indonesia and South Africa as Key Partners. It also works with other non-member countries through partnerships and regional initiatives. Accession candidates undergo a Council-led process that includes a roadmap and technical reviews of policies and practices; being in that process does not itself confer membership. Check the OECD’s membership page for the current status of countries and accession discussions.
What is the latest OECD economic outlook?
As of 4 October 2026, the latest outlook listed by the OECD is OECD Economic Outlook, Interim Report September 2026: Weathering Successive Shocks, published on 23 September 2026. The OECD normally publishes its main Economic Outlook twice a year, with interim updates between editions. The Economic Outlook topic page distinguishes the main volume from interim reports.
The September 2026 interim report projects global GDP growth of 2.9% in 2026 and 3.0% in 2027. It projects G20 headline inflation of 4.1% in 2026 and 3.6% in 2027. These are OECD forecasts from that report—not final measured results.
| Measure | 2026 projection | 2027 projection | Report and source |
|---|---|---|---|
| Global GDP growth | 2.9% | 3.0% | OECD Economic Outlook, Interim Report September 2026 report and projections |
| G20 headline inflation | 4.1% | 3.6% | OECD Economic Outlook, Interim Report September 2026 report and projections |
The report says global growth eased in the first half of 2026 but was more resilient than anticipated, helped in part by energy supply adjustments and continued strength in AI-related investment. It flags risks including prolonged disruption to Middle East energy exports, weather-related supply shocks, further increases in long-term sovereign bond yields, and returns on AI investment falling short of expectations. These are risks identified by the OECD, not predictions that each event will occur.
How to interpret an OECD forecast
A forecast is an estimate conditional on assumptions about policy settings and financial and commodity market conditions. The OECD cautions that projections are uncertain and that forecast errors can be larger around economic turning points. In the September 2026 edition, the OECD revised its 2026 global growth projection up from 2.8% and its 2027 projection down from 3.1%. That change illustrates why a forecast should be read with its edition and date, rather than treated as a fixed outcome.
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Where can you find OECD statistics?
The OECD Economic Outlook Statistical Annex and database provide country and regional series on real and nominal GDP, inflation, unemployment, fiscal balances, interest and exchange rates, and trade flows. The OECD makes the database available alongside downloadable Excel and PDF annexes. Start at the Economic Outlook page to find these materials.
OECD series follow recognised statistical concepts and definitions to support international comparisons, but comparable-looking figures can still differ in important ways. Before comparing values, check the following:
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- Indicator and unit: confirm both figures measure the same thing and use the same unit.
- Status and vintage: distinguish observed data from estimates and projections, and note the release or forecast edition.
- Period and frequency: compare like periods and quarterly with quarterly or annual with annual.
- Adjustment and price basis: check whether figures are real or nominal and whether quarterly series are seasonally or working-day adjusted. National working-day adjustments may differ from the OECD’s.
- Aggregate versus country: regional aggregates use dynamic, time-varying weights, so their composition and influence can change over time.
Because some quarterly projections are adjusted for seasonal and working-day effects, they may not match unadjusted annual figures exactly. A difference is not necessarily a contradiction; first check that the series use the same basis and reference period.
How did the OECD begin?
The OECD grew out of the Organisation for European Economic Co-operation (OEEC), established in 1948. Eighteen Western European countries formed the OEEC to administer American and Canadian aid under the Marshall Plan. The Convention transforming the OEEC into the OECD was signed in Paris on 14 December 1960 and entered into force on 30 September 1961. The OECD’s official history describes how its policy work subsequently broadened beyond postwar economic recovery.
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