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The G20 group comprises the world's 19 leading national economies, plus the European Union. It was formed in 1999, and held its first meeting that year.
Until 2008 the G20 was overshadowed by the smaller G8 grouping of France, Germany, Italy, Japan, the UK, the US, Canada and Russia.However, this has changed since the global financial crisis of 2008, and the G20 has effectively now replaced the G8 as the main global economic forum.The major growth in the economies of G20 members China, India and Brazil has also contributed to the rising importance of the grouping.The G20 currently meets twice a year, but this is set to reduce to one meeting from 2011.