Graphics: G20's position in the world

The 19th Group of 20 (G20) Summit will begin in Rio de Janeiro, Brazil on November 18, 2024, under a theme of "Building a Just World and a Sustainable Planet."

The group comprises 19 countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the UK and U.S. – as well as the African Union and the European Union.

The G20 members account for around 85 percent of global GDP, over 75 percent of global trade and about two-thirds of the world population.

GDP among the G20 members grew by a combined 3.1 percent year on year in the second quarter of 2024, slightly down from 3.2 percent in the previous quarter, according to data from the Organisation for Economic Co-operation and Development. China, India and the U.S. contributed the most to economic growth among G20 members in Q2 2024.

The economic grouping was formed after the Asian financial crisis in 1999 to discuss global economic and financial issues, with the understanding that the containment of such crises required better international economic cooperation.

The G20 was upgraded to the level of heads of state/government in the wake of the global economic and financial crisis of 2007, and in 2009 was designated the "premier forum for international economic cooperation." The summit is held annually under a rotating presidency.