Claim: The G20 economies account for 60% of the gross world product.

The G20 -LRB- or G-20 or Group of Twenty -RRB- is an international forum for the governments and central bank governors from 20 major economies . It was founded in 1999 with the aim of studying , reviewing , and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability . It seeks to address issues that go beyond the responsibilities of any one organization . The G20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008 , and the group also hosts separate meetings of finance ministers and central bank governors .   The members include 19 individual countries and along with the European Union -LRB- EU -RRB- . The EU is represented by the European Commission and by the European Central Bank . Collectively , the G20 economies account for around 85 % of the gross world product -LRB- GWP -RRB- , 80 % of world trade -LRB- or , if excluding EU intra-trade , 75 % -RRB- , and two-thirds of the world population .   With the G20 growing in stature after its inaugural leaders ' summit in 2008 , its leaders announced on 25 September 2009 that the group would replace the G8 as the main economic council of wealthy nations . Since its inception , the G20 's membership policies have been criticized by numerous intellectuals , and its summits have been a focus for major protests by anti-globalists , nationalists and others .   The heads of the G20 nations met semi-annually at G20 summits between 2009 and 2010 . Since the November 2011 Cannes summit , all G20 summits have been held annually .