Tag Archives: countries versus corporations

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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The Top 175 Global Economic Entities, 2010

GlobalEconomicFinancialLinkagesRecently, Fortune Magazine published its list of the Global 500. Based on the popularity of last year’s blog post, I’ve decided to update the Top 175 Global Economic Entities annually. Using 2010 data, the list below includes the world’s largest economic entities as measured by Gross Domestic Product (Source: World Bank, 1 July 2011) and Total Revenue (Source: Fortune Magazine, 25 July 2011).

Rank Entity $US Millions
1 United States $14,582,400
2 Eurozone $12,174,523
3 China $5,878,629
4 Japan $5,497,813
5 Germany $3,309,669
6 France $2,560,002
7 United Kingdom $2,246,079
8 Brazil $2,087,890
9 Italy $2,051,412
10 India $1,729,010
11 Canada $1,574,052
12 Russia $1,479,819
13 Spain $1,407,405
14 Mexico $1,039,662
15 South Korea $1,014,483
16 Australia $924,843
17 Netherlands $783,413
18 Turkey $735,264
19 Indonesia $706,558
20 Switzerland $523,772
21 Poland $468,585
22 Belgium $467,472
23 Sweden $458,004
24 Wal-Mart Stores $421,849
25 Norway $414,462
26 Venezuela $387,852
27 Royal Dutch Shell $378,152
28 Austria $376,162
29 Saudi Arabia $375,766
30 Argentina $368,712
31 South Africa $363,704
32 Exxon Mobile $354,674
33 Iran $331,015
34 Thailand $318,847
35 Denmark $310,405
36 British Petroleum $308,928
37 Greece $304,865
38 Columbia $288,189
39 Sinopec Group $273,422
40 China National Petroleum $240,192
41 Finland $238,801
42 Malaysia $237,804
43 United Arab Emirates $230,252
44 Portugal $228,538
45 State Grid $226,294
46 Hong Kong $224,458
47 Singapore $222,699
48 Toyota Motor $221,760
49 Egypt $218,912
50 Israel $217,334
51 Japan Post Holdings $203,958
52 Ireland $203,892
53 Chile $203,443
54 Philippines $199,589
55 Chevron $196,337
56 Nigeria $193,669
57 Czech Republic $192,152
58 Total $186,055
59 ConocoPhillips $184,966
60 Pakistan $174,799
61 Volkswagen $168,041
62 AXA $162,236
63 Romania $161,624
64 Algeria $159,426
65 Peru $153,845
66 Fannie Mae $153,825
67 General Electric $151,628
68 Kuwait $148,024
69 ING Group $147,052
70 Glencore International $144,978
71 Kazakhstan $142,987
72 Ukraine $137,929
73 Berkshire Hathaway $136,185
74 General Motors $135,185
75 Bank of America Corporation $134,194
76 Samsung Electronics $133,781
77 ENI $131,756
78 Hungary $130,419
79 Daimler $129,481
80 Ford Motor $128,954
81 BNP Paribus $128,726
82 Allianz $127,379
83 New Zealand $126,679
84 Hewlett-Packard $126,033
85 E.ON $125,064
86 AT&T $124,629
87 Nippon Telegraph & Telephone $120,316
88 Carrefour $120,297
89 Assicurazioni Generali $120,234
90 Petrobrás $120,052
91 Gazprom $118,657
92 J.P. Morgan Chase & Co. $115,475
93 McKesson $112,084
94 GDF Suez $111,888
95 Citigroup $111,055
96 Hitachi $108,766
97 Verizon Communications $106,565
98 Nestlé $105,267
99 Crédit Agricole $105,003
100 American International Group $104,417
101 Honda Motor $104,342
102 Vietnam $103,572
103 HSBC Holdings $102,680
104 Siemens $102,657
105 Nissan Motor $102,430
106 Pemex $101,506
107 Panasonic $101,491
108 Banco Santander $100,350
109 Bangladesh $100,076
110 International Business Machine $99,870
111 Cardinal Health $98,602
112 Freddie Mac $98,368
113 Qatar $98,313
114 Hyundai Motor $97,408
115 Enel $97,185
116 CVS Caremark $96,413
117 JX Holdings $95,964
118 Lloyds Banking Group $95,682
119 Hon Hai Precision Industry $95,191
120 Tesco $94,185
121 UnitedHealth Group $94,155
122 Wells Fargo $93,249
123 Morocco $91,196
124 Aviva $90,211
126 Metro $89,081
125 Slovakia $89,034
127 PDVSA $88,361
128 Statoil $87,646
129 Électricité de France $86,309
130 Lukoil $86,078
131 Valero Energy $86,034
132 BASF $84,597
133 Angola $84,391
134 Société Générale $84,350
135 Sony $83,845
136 ArcelorMittal $83,443
137 Deutsche Telekom $82,674
138 Kroger $82,189
139 Iraq $82,150
140 Telefónica $80,444
141 BMW $80,099
142 Procter & Gamble $79,689
143 Nippon Life Insurance $78,571
144 SK Holdings $78,435
145 EXOR Group $78,123
146 AmerisourceBergen $77,954
147 Costco Wholesale $77,946
148 Petronas $76,876
149 China Mobile Communications $76,673
150 Munich Re Group $76,220
151 Toshiba $74,706
152 Peugeot $74,251
153 Prudential $73,598
154 Vodafone $71,344
155 Deutsche Post $71,121
156 Repsol YPF $70,456
157 China Railway Group $69,973
158 Dexia Group $69,491
159 Groupe BPCE $69,297
160 Indian Oil $68,837
161 Marathon Oil $68,413
162 Royal Bank of Scotland $68,088
163 Home Depot $67,997
164 Zurich Financial Services $67,850
165 Pfizer $67,809
166 Walgreen $67,420
167 China Railway Construction $67,414
168 Target $67,390
169 RWE $67,179
170 China Construction Bank $67,081
171 U.S. Postal Service $67,052
172 Medico Health Solutions $65,968
173 Apple $65,225
174 Aegon $65,136
175 China Life Insurance $64,635

Eight of the top 50 economic entities are multinational corporations (16 percent). In the second tier of 50, 36 are corporations (72 percent) and in the third tier of 50, 86 percent are corporations (43). In total 64 percent (112) of the top 175 economic entities are corporations. Not listed are 130+ countries with levels of gross domestic product (GDP) lower than Iraq’s. The total revenue of Wal-Mart (24th on the list) is 1.94 times larger than the GDP of Israel (50th on the list) and 5.135 times larger than the GDP of Iraq (139th on the list). Noticeably, there are more corporations and fewer countries on the list this year. How will it change over the next twelve months?

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The Top 175 Global Economic Entities, 2009

European Central BankAfter mentioning it in a blog a couple of days ago, I’ve received a number of inquiries regarding the list of the world’s largest economic entities (countries versus corporations) that I use in my lectures. The version that I’ve used in the past is from 2007 as compiled by Rhett A. Butler of mongabay.com. Using his list as the foundation, I’ve updated the table to reflect the most current data possible (2009 year end). The revised list below includes the world’s largest economic entities as measured by Gross Domestic Product (Source: World Bank, 1 July 2010) and Total Revenue (Source: Fortune Magazine, 26 July 2010).

Rank Entity $US Millions
1 United States $14,256,300
2 Eurozone $12,455,979
3 Japan $5,067,526
4 China $4,909,280
5 Germany $3,346,702
6 France $2,649,390
7 United Kingdom $2,174,530
8 Italy $2,112,780
9 Brazil $1,571,979
10 Spain $1,460,250
11 Canada $1,336,067
12 India $1,296,085
13 Russia $1,230,726
14 Australia $924,843
15 Mexico $874,902
16 South Korea $832,512
17 Netherlands $792,128
18 Turkey $617,099
19 Indonesia $540,277
20 Switzerland $500,260
21 Belgium $468,522
22 Poland $430,079
23 Wal-Mart $408,214
24 Sweden $406,072
25 Austria $384,908
26 Norway $381,766
27 Saudi Arabia $369,179
28 Iran $331,015
29 Greece $329,924
30 Venezuela $326,498
31 Denmark $309,596
32 Argentina $308,741
33 South Africa $285,983
34 Royal Dutch Shell $285,129
35 Exxon Mobil $284,650
36 Thailand $263,856
37 United Arab Emirates $261,348
38 British Petroleum $246,138
39 Finland $237,512
40 Columbia $230,844
41 Portugal $227,676
42 Ireland $227,193
43 Hong Kong $215,355
44 Toyota Motor $204,106
45 Japan Post Holdings $202,196
46 Israel $194,790
47 Malaysia $191,601
48 Czech Republic $190,274
49 Egypt $188,334
50 Sinopec $187,518
51 State Grid $184,496
52 Singapore $182,232
53 AXA $175,257
54 Nigeria $168,994
55 Pakistan $166,545
56 China National Petroleum $165,496
57 Chile $163,670
58 Chevron $163,527
59 ING Group $163,204
60 Romania $161,110
61 Philippines $160,476
62 General Electric $156,779
63 Total $155,877
64 Bank of America $150,450
65 Kuwait $148,024
66 Volkswagen $146,205
67 Algeria $140,577
68 ConocoPhillips $139,515
69 BNP Paribas $130,708
70 Hungary $128,964
71 Peru $126,734
72 Assicurazioni Generali $126,012
73 Allianz $125,160
74 New Zealand $125,160
75 AT&T $123,018
76 Carrefour $121,452
77 Ford Motor $118,308
78 ENI $117,235
79 J.P. Morgan Chase $115,632
80 Hewlett-Packard $114,552
81 E.ON $113,849
82 Ukraine $113,545
83 Berkshire Hathaway $112,493
84 GDF Suez $111,069
85 Daimler $109,700
86 Nippon Telegraph & Telephone $109,656
87 Kazakhstan $109,115
88 Samsung Electronics $108,927
89 Citigroup $108,785
90 McKesson $108,702
91 Verizon Communications $107,808
92 Crédit Agricole $106,538
93 Banco Santander $106,538
94 General Motors $104,589
95 HSBC Holdings $103,736
96 Siemens $103,605
97 American International Group $103,189
98 Lloyds Banking Group $102,967
99 Cardinal Health $99,613
100 Nestlé $99,114
101 CVS Caremark $98,729
102 Wells Fargo $98,636
103 Hitachi $96,593
104 International Business Machine $95,758
105 Dexia Group $95,144
106 Gazprom $94,472
107 Honda Motor $92,400
108 Électricité de France $92,204
109 Aviva $92,140
110 Petrobrás $91,869
111 Vietnam $91,854
112 Royal Bank of Scotland $91,767
113 PDVSA $91,182
114 Metro $91,152
115 Morocco $90,859
116 Tesco $90,234
117 Deutsche Telekom $89,794
118 Bangladesh $89,378
119 Enel $89,329
120 Slovakia $87,642
121 UnitedHealth Group $87,138
122 Société Générale $84,157
123 Nissan Motor $80,963
124 Pemex $80,722
126 Panasonic $79,893
125 Proter & Gamble $79,697
127 LG $78,892
128 Telefónica $78,853
129 Sony $77,696
130 Kroger $76,733
131 Groupe BPCE $76,464
132 Prudential $75,010
133 Munich Re Group $74,764
134 Statoil $74,000
135 Nippon Life Insurance $72,051
136 AmerisourceBergen $71,789
137 China Mobile Communications $71,749
138 Hyundai Motors $71,678
139 Costco Wholesale $71,422
140 Qatar $71,041
141 Vodafone $70,849
142 BASF $70,461
143 BMW $70,444
144 Zurich Financial Services $70,272
145 Valero Energy $70,035
146 Fiat $69,639
147 Deutsche Post $69,427
148 Ind. & Comm. Bank of China $69,295
149 Archer Daniels Midland $69,207
150 Angola $69,067
151 Toshiba $68,731
152 Legal & General Group $68,290
153 Boeing $68,281
154 U.S. Postal Service $68,090
155 Lukoil $68,025
156 Peugeot $67,297
157 CNP Assurances $66,556
158 Barclays $66,533
159 Home Depot $66,176
160 Iraq $65,837
161 Target $65,357
162 ArcelorMittal $65,110
163 WellPoint $65,028
164 RWE $64,795
165 UniCredit Group $64,709
166 Aegon $64,506
167 SK Holdings $64,396
168 France Télécom $63,860
169 Walgreen $63,335
170 Croatia $63,034
171 Petronas $62,577
172 Libya $62,360
173 Johnson & Johnson $61,897
174 State Farm Insurance Cos. $61,480
175 Oman $60,299

Seven of the top 50 economic entities are multinational corporations (14 percent). In the second tier of 50, 37 are corporations (74 percent) and in the third tier of 50, 88 percent are corporations (44). In total 62.3 percent (109) of the top 175 economic entities are corporations. Not listed are 129+ countries with levels of gross domestic product (GDP) lower than Oman’s.

The total revenue of Wal-Mart (23rd on the list) is 2.24 times larger than the GDP of Singapore (52nd on the list) and 6.77 times larger than the GDP of Oman (175th on the list). From a marketing and international business perspective, this illustrates the level of success achieved by multinational corporations. Those examining the list from other perspectives are encouraged to arrive at their own conclusion.

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