Formed in 1975, the G7 is a group of seven advanced economies (U.S., Canada, UK, Germany, France, Italy, Japan) that cooperates on economic policy and promotes global stability. At the time of the group’s inception, these countries were leading nations in the post-World War II economic order, and shared similar political and economic systems.

While much of this is still true today, the G7’s collective economic influence has fallen significantly as emerging nations in other parts of the world have grown.

To learn more about this trend, we’ve visualized the G7’s share of global GDP beside the G20’s, from 1990 to 2022. Numbers come from the World Bank, accessed via the Council on Foreign Relations.

What Does This Mean for the G7?

Here are some possible consequences of the G7’s declining share of global GDP:

• Reduced Global Influence: Diminished ability to shape global economic policies and standards.
• Changes in Trade Dynamics: Potential shifts in trade relationships and alliances as other countries gain economic prominence.
• Altered Investment Flows: Redirection of global investment towards faster-growing economies outside the G7.

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