85% of global GDP, two-thirds of world population: All you need to know about G20 member states
In addition to the member countries, each year, the G20 president invites guest countries to participate in the G20 meetings and the Summit.
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G20 members at Plenary Session, in Buenos Aires, 2020. Leaders from the most powerful nations in the world will flock to New Delhi for the G20 Heads of State and Government Summit to be held on September 9-10.
The G20 includes the world’s 19 biggest economies as well as the European Union as a bloc. These countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States.
As per figures released by the Ministry of External Affairs, these countries cumulatively account for 85 per cent of global gross domestic product, over 75 per cent of global trade and two-thirds of the globe’s entire population.
In addition to the member countries, each year, the G20 president invites guest countries to participate in the G20 meetings and the Summit. This year, India has invited Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain and the UAE as guest countries during its G20 presidency.
Over 60% of world’s population
The G20 member states are home to over 4.9 billion people with an average life expectancy of 78 years and a current median age of 39, against a global average of 30.
As per figures by the World Population Review, India (17. 85 per cent) and China (17.81 per cent) together account for over 35 per cent of the world population. The United States, also a member, comes third accounting for only 4.25 per cent of the global population, followed by Indonesia at 3.47 per cent.
Australia accounts for only 0.33 per cent of the global numbers, being the least populous of the G20 countries.
85% of global GDP
The G20 forum, which puts international economic cooperation at the forefront of its agenda, also represents around 85 per cent of global GDP.
Additionally, India’s average GDP growth rate for the years 2023 to 2026 stands the highest at 6.1 per cent, followed by China at 4.4 per cent and Turkey at 3 per cent, making it the fastest growing economy among the G20 nations, according to the ANI news agency.
More than 70% of global trade
Further, as per the ANI report, India’s bilateral trade with G20 countries during the financial year 2022-23 demonstrate that the US is India’s largest trade partner among the G20 countries, with $129 billion in merchandise trade and a trade surplus of $27.7 billion.
India’s second largest trade partner is China (total merchandise trade of $113.8 billion), Saudi Arabia ($49.9 billion) and Russia ($49.4 billion).
The only regional group in the G20, the EU, is an important trade partner of India with a total merchandise trade of $135.9 billion, leaving a trade surplus of $13.8 billion.
There is no headquarters for the G20 and the presidency is rotated among its members. The previous G20 summit took place in Indonesia, and India will pass on the presidency to the next host, Brazil, in December.
–with agency inputs
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