Usually means: Advanced economy, high living standards.
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We found 6 dictionaries that define the word developed country:

General (4 matching dictionaries)
  1. developed-country: Wordnik
  2. developed country: Wiktionary
  3. Developed Country, Developed country: Wikipedia, the Free Encyclopedia
  4. developed country: Longman Dictionary of Contemporary English

Business (1 matching dictionary)
  1. Developed country: Deardorff's Glossary of International Economics

Medicine (1 matching dictionary)
  1. Developed country: Medical dictionary

Definitions from Wiktionary (developed country)

noun:  (economics) A country with an advanced, high-income, industrialized economy.

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