Group of Seven

international intergovernmental economic organization
(Redirected from G7)

The Group of Seven (G7) is an international political group made up of the seven largest IMF-described advanced economies in the world: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.[1]

Group of Seven and the European Union
Group of Seven (G7) Countries.svg
The G7-nations (blue) and the European Union (teal) in the world

 Canada

Prime Minister Justin Trudeau

 France

President Emmanuel Macron

 Germany

Chancellor Angela Merkel (Senior G7 Leader)

 Italy

Prime Minister Giuseppe Conte

 Japan

Prime Minister Shinzō Abe

 United Kingdom

Prime Minister Boris Johnson

 United States (2020 host)

President Donald Trump

 European Union

Council President Charles Michel
Commission President Ursula von der Leyen

As of 2018, the seven countries represent 58% of the global net wealth ($317 trillion)[2] and more than 46% of the global gross domestic product (GDP).[3] The European Union is an invitee to G7.

HistoryEdit

Since 1975, the group meets annually on summit site to discuss economic policies; since 1987, the G7 Finance Ministers have met at least semi-annually, up to four times a year at stand-alone meetings.[4]

On 2 March 2014, then-G8 criticized the "Russian Federation's violation of the sovereignty and territorial integrity of Ukraine."[5] As a result, Russia was removed from the G8 which was later renamed G7 as there are now seven leaders in the group.

Country leaders and EU representatives (as of 2019)Edit

Wealth dataEdit

Member Trade mil. USD (2014) Nom. GDP mil. USD (2014)[6] PPP GDP mil. USD (2014)[6] Nom. GDP per capita USD (2014)[6] PPP GDP per capita USD (2014)[6] HDI (2017) Population (2014) Permanent members of UN Security Council DAC OECD Economic classification (IMF)[7]
Canada 947,200 1,785,387 1,595,975 50,304 44,967 0.926 35,467,000  N  Y  Y Advanced
France 1,212,300 2,833,687 2,591,170 44,332 40,538 0.901 63,951,000  Y  Y  Y Advanced
Germany 2,866,600 3,874,437 3,748,094 47,774 46,216 0.936 80,940,000  N  Y  Y Advanced
Italy 948,600 2,167,744 2,135,359 35,335 35,131 0.880 60,665,551  N  Y  Y Advanced
Japan 1,522,400 4,602,367 4,767,157 36,222 37,519 0.909 127,061,000  N  Y  Y Advanced
United Kingdom 1,189,400 2,950,039 2,569,218 45,729 39,826 0.922 64,511,000  Y  Y  Y Advanced
United States 3,944,000 17,348,075 17,348,075 54,370 54,370 0.924 318,523,000  Y  Y  Y Advanced
European Union 4,485,000 18,527,116 18,640,411 36,645 36,869 0.899 505,570,700 N/A  Y N/A Emerging and Developing/Advanced[8]

List of leadersEdit

Also seeEdit

ReferencesEdit

  1. "World Economic Outlook Database". International Monetary Fund. imf.org. October 2017. "Major Advanced Economies (G7)".
  2. Research Institute – Global Wealth Databook 2018
  3. "Report for Selected Countries and Subjects". www.imf.org.
  4. "G7/8 Ministerial Meetings and Documents". G8 Information Centre. University of Toronto. 2014. Retrieved 14 March 2014.
  5. "Statement by G7 Nations". G8 Info Ctr. University of Toronto. 2 March 2014. Retrieved 10 March 2014.
  6. 6.0 6.1 6.2 6.3 "Gross domestic product". IMF World Economic Outlook. October 2015. Retrieved 14 October 2015.
  7. "World Economic Outlook data". IMF. 2014. Retrieved 19 October 2014.
  8. 23 out of 28 EU countries are classified as advanced. 5 out of 28 EU countries are classified by the IMF as Emerging and Developing Europe