The Top 175 Global Economic Entities, 2011

Global Economy by rambergmedia.comRecently, Fortune updated its list of the Global 500. With the release of this update, it’s time to revise the Top 175 Global Economic Entities. This year marks the third consecutive year of publishing the Top 175 Global Economic Entities on All Things Marketing. Using 2011 data, the list below presents the world’s largest economic entities as measured by Gross Domestic Product (Source: World Bank) and Total Revenue (Source: Fortune Magazine).

Rank Entity $US Millions
1 European Union 17,549,214
2 United States of America 15,094,000
3 China 7,298,097
4 Japan 5,867,154
5 Germany 3,570,557
6 France 2,773,072
7 Brazil 2,476,652
8 United Kingdom 2,431,589
9 Italy 2,194,750
10 Russia 1,857,770
11 India 1,847,981
12 Canada 1,736,051
13 Spain 1,490,810
14 Australia 1,371,764
15 Mexico 1,155,316
16 South Korea 1,116,247
17 Indonesia 846,832
18 Netherlands 836,257
19 Turkey 773,091
20 Switzerland 635,650
21 Saudi Arabia 576,824
22 Sweden 538,131
23 Poland 514,496
24 Belgium 511,533
25 Norway 485,803
26 Royal Dutch Shell 484,489
27 Exxon Mobil 452,926
28 Wal-Mart Stores 446,950
29 Argentina 445,989
30 Austria 418,484
31 South Africa 408,237
32 BP 386,463
33 Sinopec Group 375,214
34 United Arab Emirates 360,245
35 China National Petroleum 352,338
36 Thailand 345,649
37 Denmark 332,677
38 Columbia 331,655
39 Iran 331,015
40 Venezuela 316,482
41 Greece 298,734
42 Malaysia 278,671
43 Finland 266,071
44 State Grid 259,142
45 Chile 248,585
46 Chevron 245,621
47 Hong Kong 243,666
48 Israel 242,929
49 Singapore 239,700
50 Portugal 237,522
51 ConocoPhillips 237,272
52 Nigeria 235,923
53 Toyota Motor 235,364
54 Total 231,580
55 Egypt 229,531
56 Philippines 224,754
57 Volkswagen 221,551
58 Ireland 217,275
59 Czech Republic 215,215
60 Japan Post Holdings 211,019
61 Algeria 188,681
62 Kazakhstan 186,198
63 Glencore International 186,152
64 Romania 179,794
65 Peru 176,662
66 Kuwait 176,590
67 Qatar 172,982
68 Ukraine 165,245
69 Gazprom 157,831
70 E.ON 157,057
71 ENI 153,676
72 ING Group 150,571
73 General Motors 150,276
74 Samsung Electronics 148,944
75 Daimler 148,139
76 General Electric 147,616
77 Petrobras 145,915
78 Berkshire Hathaway 143,688
79 AXA 142,712
80 New Zealand 142,477
81 Hungary 140,029
82 Fannie Mae 137,451
83 Ford Motor 136,264
84 Allianz 134,168
85 Nippon Telegraph & Telephone 133,077
86 BNP Paribas 127,460
87 Hewlett-Packard 127,245
88 AT&T 126,723
89 GDF Suez 126,077
90 Pemex 125,344
91 Valero Energy 125,095
92 PDVSA 124,754
93 Vietnam 123,961
94 McKesson 122,734
95 Hitachi 122,419
96 Carrefour 121,734
97 Statoil 119,561
98 JX Holdings 119,258
99 Nissan Motor 119,166
100 Hon Hai Precision Industry 117,514
101 Banco Santander 117,408
102 EXOR Group 117,297
103 Iraq 115,388
104 Bank of America Corp. 115,074
105 Siemens 113,349
106 Assicurazioni Generali 112,628
107 Lukoil 111,433
108 Verizon Communications 110,875
109 J.P. Morgan Chase & Co. 110,838
110 Bangladesh 110,612
111 Enel 110,560
112 HSBC Holdings 110,141
113 Industrial & Commercial Bank of China 109,040
114 Apple 108,249
115 CVS Caremark 107,750
116 International Business Machines 106,916
117 Crédit Agricole 105,156
118 Tesco 103,839
119 Citigroup 102,939
120 Cardinal Health 102,644
121 BASF 102,194
122 UnitedHealth Group 101,862
123 Angola 100,990
124 Honda Motor 100,664
125 SK Holdings 100,394
126 Morocco 100,221
127 Panasonic 99,373
128 Société Générale 98,464
129 Petronas 97,355
130 Puerto Rico 96,261
131 Slovakia 95,994
132 BMW 95,692
133 ArcelorMittal 94,444
134 Nestlé 94,405
135 Metro 92,746
136 Électricité de France 90,806
137 Nippon Life Insurance 90,783
138 Kroger 90,374
139 Munich Re Group 90,137
140 China Construction Bank 89,648
141 Costco Wholesale 88,915
142 Freddie Mac 88,262
143 Wells Fargo 87,597
144 China Mobile Communications 87,544
145 Telefónica 87,372
146 Indian Oil 86,016
147 Agricultural Bank of China 84,803
148 Peugeot 83,305
149 Procter & Gamble 82,559
150 Sony 82,237
151 Banco do Brasil 81,887
152 Deutsche Telekom 81,554
153 Repsol YPF 81,122
154 Noble Group 80,732
155 Archer Daniels Midland 80,676
156 Bank of China 80,230
157 AmerisourceBergen 80,218
158 PTT 79,690
159 Meiji Yasuda Life Insurance 77,463
160 Toshiba 77,261
161 Deutsche Post 76,307
162 Reliance Industries 76,119
163 China State Construction Engineering 76,024
164 China National Offshore Oil 75,514
165 INTL FCStone 75,498
166 Groupe BPCE 75,082
167 Deutsche Bank 74,425
168 Vodafone Group 74,051
169 Marathon Petroleum 73,645
170 Walgreen 72,184
171 Oman 71,782
172 BHP Billiton 71,739
173 American International Group 71,730
174 Robert Bosch 71,600
175 China Railway Construction 71,443

Last year, eight of the top 50 economic entities were multinational corporations. Likewise, this year there are eight multinational corporations in the top 50. It is notable that the European Union has surpassed the United States of America as the world’s largest economy. Just as interesting is the grouping of multinational corporations (26, 27 and 28) in the top 30 global economic entities and that both Royal Dutch Shell and Exxon Mobil have surpassed Wal-Mart Stores on the Fortune Global 500 list.

In the second tier of 50, 35 are corporations and in the third tier of 50, 44 are corporations. In total 63.4 percent (111) of the top 175 economic entities are corporations, one fewer than last year. Not listed are 130+ countries with levels of gross domestic product (GDP) lower than Oman’s. The total revenue of Royal Dutch Shell (26th on the list) is 2.04 times larger than the GDP of Portugal (50th on the list) and 6.75 times larger than the GDP of Oman (171st on the list).

Remarkably, given the global economic recession, there is one fewer corporation on the list this year. Just as interesting is how similar, overall, this year’s rankings are to those of last year (although both the countries and corporations have changed). Of final note, individually Royal Dutch Shell, Exxon Mobil and Wal-Mart Stores are larger than 110 countries (roughly 55 percent of the total number of countries) in the world. What impact do you think this has on global business?

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One thought on “The Top 175 Global Economic Entities, 2011”

  1. I am quite happy to see large global oil firms on the list. Oil exploration and exploitation is clearly most efficient from a risk and operational perspective when carried out globally rather than by small, inefficient, local companies. As a result of this, we (in the West) are less beholden to the OPEC cartel, meaning we can all drive around a little bit cheaper when we go to work or to see our families…

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