Every year, world leaders gather for the G7 and G20 summits. Here’s who is in each group, what they actually do, and why Australia has a seat at one of them.
The “G” stands for “Group”. Both are informal forums where leaders meet to discuss the global economy and other big issues. They don’t have permanent headquarters or the power to make binding laws, but agreements made there can influence policy worldwide.
The G7
The Group of Seven is made up of the United States, Japan, Germany, the United Kingdom, France, Italy and Canada. The European Union also takes part.
It began in the 1970s, when finance ministers from leading economies met during an oil crisis and recession. Russia joined in 1997, making it the G8, but it was suspended in 2014 after it annexed Crimea.
G7 countries share democratic systems and close ties, so the group often coordinates on issues such as sanctions against Russia, support for Ukraine, trade and security. The presidency rotates each year, and the host often invites guest countries. Australia has attended several G7 summits as a guest.
The G20
The Group of 20 is much broader. It includes 19 countries, along with the European Union and, since 2023, the African Union.
The member countries are 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. Together, they account for around 85% of the world’s economic output and about three-quarters of global trade.
The G20 was created in 1999 as a meeting of finance ministers after the Asian financial crisis. It became a leaders’ summit in 2008, during the global financial crisis, when it coordinated a worldwide response to stop the downturn spreading.
Australia played a key role in establishing the leaders’ summit, and hosted the G20 in Brisbane in 2014. Membership gives Australia a seat alongside the world’s biggest economies, including China, India and the U.S.
The 2026 G20
The U.S. holds the G20 presidency in 2026, with the leaders’ summit planned for 14 and 15 December at President Donald Trump’s Doral golf resort near Miami.
The Trump administration said South Africa, which hosted the 2025 summit, would not be invited, a decision that drew criticism. The U.S. has said it wants to refocus the G20 on economic growth.
Because members range from the U.S. and China to Russia and Saudi Arabia, the G20 often struggles to agree on contentious issues. Critics say it produces more talk than action, while supporters argue it is one of the few forums where rival powers meet face to face.
