Group of Seven (G7)

The Group of Seven is a group of large industrialized countries that meet on an annual basis to discuss economic, security, and political issues. The presidency of the G7 rotates among the seven countries on an annual basis. The current president is responsible for organizing and hosting the current year's gathering. The finance ministers of the G7 meet on a more frequent basis to discuss policy issues. The member countries are:

  • Canada

  • France

  • Germany

  • Italy

  • Japan

  • United Kingdom

  • United States of America

The aggregate gross domestic product (GDP) of these countries comprises nearly half of the GDP of the world. Despite the obvious economic power of the G7 and their relative homogeneity, the decisions made by the group are being overshadowed by the larger Group of Twenty (G20), which includes a much larger percentage of the world's GDP.