Files with DWG extension represent proprietary binary files used for containing 2D and 3D design data. Like DXF, which are ASCII files, DWG represent the binary file format for CAD (Computer Aided Design) drawings. It contains vector image and metadata for representation of contents of CAD files.
A GIF or Graphical Interchange Format is a type of highly compressed image. Owned by Unisys, GIF uses the LZW compression algorithm that does not degrade the image quality. For each image GIF typically allow up to 8 bits per pixel and up to 256 colours are allowed across the image. In contrast to a JPEG image, which can display up to 16 million colours and fairly touches the limits of the human eye.
You can also convert DWG into many other file formats. Please see the complete list below.