G7 vs G20: What's the Difference and Who Belongs to Each?

You will often see “G7” and “G20” in the news, usually around a leaders’ summit. They sound similar, but they are different clubs with different aims.

The G7

The Group of Seven is made up of seven large advanced economies:

• Canada
• France
• Germany
• Italy
• Japan
• the United Kingdom
• the United States

The European Union also takes part in meetings, although it is not counted as one of the seven. The group began in the 1970s as an informal forum for finance ministers of leading industrial nations during a period of economic turmoil, and grew into an annual leaders’ summit. It briefly included Russia (making it the G8) before Russia was suspended in 2014.

The G7 tends to focus on shared priorities among advanced democracies, such as economic policy, security, climate, health and support for other countries.

The G20

The Group of Twenty was created in 1999, after a series of financial crises, to include major emerging economies alongside the richest ones. Its members are 19 countries plus two regional bodies:

• Countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States.
• Regional bodies: the European Union and the African Union, which joined as a permanent member in 2023.

Leaders began meeting as the G20 after the global financial crisis in 2008. Together, G20 members account for a large majority of the world’s economic output and roughly two-thirds of its population.

Side-by-side comparison

	G7	G20
Members	7 countries (plus the EU in meetings)	19 countries, the EU and the African Union
Started	1970s	1999 (leaders’ summits from 2008)
Typical focus	Advanced economies, shared values, security	Global economy, finance, development
Includes China, India, Brazil?	No	Yes

Do they have real power?

Neither group has a charter, a permanent headquarters or the power to make binding law. Their influence comes from the weight of the countries involved and the commitments leaders choose to make. Agreements reached at summits are carried out through each country’s own governments and through bodies such as the International Monetary Fund, the World Bank and the World Trade Organization.

Why they matter

Summits give leaders a regular chance to meet face to face, set agendas for finance ministers and central banks, and coordinate on issues that cross borders, such as debt relief, climate finance or pandemic response.