As of March 2024, the G-20 members represent around _____ of the global GDP.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4: 85%.
Explanation:
- The G20 is a group comprising the world's largest and most influential economies. According to data from March 2024, its members hold a massive share of the global economy.
- Global GDP: G20 member countries account for approximately 85% of the world's total GDP.
- Global Trade: More than 75% of the world's total trade is conducted through these countries.
- Population: Approximately two-thirds (2/3) of the world's total population resides in G20 countries.
Key Points about the G20 (for Revision):
- These facts regarding the G20 are highly important for competitive examinations:
- Establishment: It was established in 1999 following the Asian Financial Crisis.
- Membership: It comprises 19 countries and two regional organizations—the European Union (EU) and the African Union (AU). (The African Union was inducted during the 2023 New Delhi Summit).
- India's Presidency (2023): India held the presidency from December 1, 2022, to November 30, 2023. Its theme was 'Vasudhaiva Kutumbakam' (One Earth, One Family, One Future).
- Upcoming Presidencies: Brazil assumed the presidency in 2024, followed by South Africa in 2025.
Important Questions for Upcoming Examinations:
Question: Where is the permanent Secretariat of the G20 located?
Answer: The G20 does not have a permanent Secretariat. Its presidency rotates annually (Troika system).
Question: Who became the 21st member of the G20?
Answer: The African Union.
Question: Which country will host the G20 Summit in 2026?
Answer: The USA.