Australian Treasurer Joe Hockey said on Sunday the Group of 20 countries will exceed a target to boost global growth by an additional 2 percentage points over the next five years.

"The 2 percent target that we announced in Sydney has been met," Hockey told ABC television ahead of Sunday's meetings of the G20 leaders in Brisbane. "It will go further."

Hockey did not specify by how much the G20 would exceed the target. He said there was also a commitment to ongoing improvements beyond the five-year goal.