ARE TRANSNATIONALS BIGGER THAN COUNTRIES? Geneva, Switzerland, 12 August 2002 Twenty-nine of the world’s 100 largest economic entities are transnational corporations (TNCs), according to a new UNCTAD list that ranks both countries and TNCs on the basis of value added. Of the 200 TNCs with the highest assets abroad in 2000, Exxon is the biggest in terms of value added ($63 billion). It ranks 45th on the new list, making it comparable in economic size to the economies of Chile or Pakistan (table 1). Nigeria comes in just between DaimlerChrysler and General Electric, while Philip Morris is on a par with Tunisia, Slovakia and Guatemala. The size of large TNCs – usually measured by sales – is sometimes compared to that of national economies as an indicator of corporate influence over the world economy. However, using sales to compare firms with the GDP of countries is conceptually flawed, as GDP is a value-added measure and sales are not. A truly comparable yardstick requires that sales be recalculated as value added. For firms, value added can be estimated as the sum of salaries and benefits, depreciation and amortization, and pre-tax income (1). The value-added activities of the 100 largest TNCs have grown faster than those of countries in recent years, accounting for 4.3% of world GDP in 2000, compared with 3.5% in 1990...

Revenues at Alphabet, Google's parent company, exceeded Puerto Rico's GDP Clothing, canned tuna, rum, beverage concentrates and electronics are among Puerto Rico's primary exports. •Puerto Rico's GDP value in 2016 was $105,035 million. •Alphabet revenues in 2017 totalled $110,900 million. •Going off its revenues, Google would be 59th in the world by GDP if it were a country. Amazon's revenue exceeded Kuwait's GDP Kuwait is a small, petroleum-based economy. •Kuwait's GDP in 2016 was $110,873 million. •Amazon revenues in 2017 came to $117,900 million. •Amazon would have the 58th highest GDP in the world if it were a country. Apple's revenues in 2017 were higher than Portugal's GDP Leading sectors in Portugal include financial services, telecommunications, and its tourism industry. •Portugal's GDP in 2016 was $205,269 million. •Apple's revenue in 2017 was $229,234 million. •Apple would be 47th in the world by GDP if it were a country. Volkswagen's revenues are greater than the GDP of Chile Chile is considered by many to be the most stable nation in South America, ahead of other nations such as Argentina, Brazil, and Colombia. •Chile's GDP in 2016 was $250,008 million. •Volkswagen's revenue in 2017 was $276,264 million. •Volkswagen would be the 43rd country in the world if its revenue represented its GDP. Walmart's revenues exceed Belgium's GDP Belgium is the sixth-largest economy in the euro zone behind Germany, France, Italy, Spain, and the Netherlands. •The value of Belgium's GDP in 2016 was $468,148 million. •Walmart's revenue in 2017 totalled $485,873 million. •If it were a country, Walmart would be ranked 24th in the world by its GDP.

25 giant companies that are bigger than entire countries - The annual revenues of giant corporations such as Apple, Microsoft, and Walmart are colossal. - The scale of their profits takes on a whole new meaning when compared with the GDPs of many of the world's countries. - Walmart out-earned Belgium in 2017. The annual revenues of companies such as Apple, Microsoft, and Walmart are so huge that they take on whole new dimensions. So much so that so that their profits dwarf the economy of many countries across the globe - for example, in 2017 Walmart earned more than the whole of Belgium. We examined the earnings of giant conglomerates and compared them with the GDP of countries around the world, as reported by the IMF. Take a look and see what countries are being out-earned by a company. Spotify's revenues in 2017 exceeded Mauritania's GDP Though Mauritania has ample iron ore deposits that account for nearly 50% of its exports, cutbacks in its production have arisen from a decline in world demand. •Mauritania's GDP in 2016 was $4,755 million. •Spotify's total revenue in 2017 came to $4,794 million. •Spotify would be 151st wealthy in the world if it were a country. Netflix had a greater revenue in 2017 than Malta's GDP Malta, a highly industrialised, service-based economy, is considered an advanced economy by the International Monetary Fund. •Malta's GDP value in 2016 was $11,278 million. •Netflix's revenues in 2017 were $11,693 million. •Going off Netflix's total revenue, it would be the 126th country in the world GDP. Tesla's takings surpassed Albania's GDP Albania is rich in natural resources, and its economy is boosted considerably by energy, mining, metallurgy, agriculture, and tourism. •Albania's GDP in 2016 was $11,865 million. •Tesla's revenues in 2017 totalled $12,000 million. •If Tesla were a country, it would be 125th wealthiest in the world. Visa made more in 2017 than Bosnia's GDP Bosnia's economy depends primarily on the export of metals, energy, textiles, and furniture. •Bosnia and Herzegovina's GDP in 2016 was $16,917 million. •Visa revenues in 2017 were $18,358 million. •Visa would have the 115th highest GDP in the world if it were a country. Revenues from El Corte Inglés were just ahead of Libya's GDP Libya depends heavily upon the petroleum sector, which accounts for over 95% of its revenues from exports. •Libya's GDP in 2016 was $18,539 million. •El Corte Inglés' revenues in 2017 came to $18,503 million. •El Corte Inglés would be 114th in the world by GDP if it were a country. Starbucks profits were higher than Trinidad and Tobago's GDP Trinidad and Tobago's economy is mostly industrial, with a focus on petroleum and petrochemicals. •Trinidad and Tobago's GDP in 2016 was $22,296 million. •Starbucks' revenues in 2017 totalled $22,386 million. •If it were a country, Starbucks would be ranked 104th in the world by GDP. McDonald's revenue was greater than New Guinea's GDP Most of New Guinea's workforce is engaged in the country's most dominant sectors: agriculture, forestry, and the fishing sector. •The GDP of Papua New Guinea in 2016 was $22,568 million. •The revenue of McDonald's in 2017 was $22,820 million. •McDonald's would be 103rd in the world by GDP if it were a country. Mercadona's income exceeded Nepal's GDP Though only 20% of Nepal is suitable for cultivation, agriculture is still Nepal's principal economic activity. •The value of Nepal's GDP in 2016 was $21,132 million. •Mercadona revenues in 2017 were $25,061 million. •Mercadona would be 102nd in the world by GDP if it were a country. BBVA's takings were higher than Estonia's GDP Oil shale energy, telecommunications, banking, fishing, timber, and shipbuilding are just a few among the dominant sectors in Estonia's economy. •Estonia's GDP value in 2016 was $23,348 million. •BBVA revenues in 2017 came to $30,229 million. •BBVA would be 99th in the world by GDP if it were a country.

Inditex's revenues were greater than Paraguay's GDP Paraguay's market economy is particularly dependent on agriculture, with one of its main exports being soybeans. •Paraguay's GDP in 2016 was $27,424 million. •Inditex's total revenue in 2017 reached a total of $30,355 million. •Inditex would be 98th by GDP if it were a country. Walt Disney's takings exceeded Bulgaria's GDP Some of Bulgaria's strongest sectors include energy, mining, metallurgy, and the building of machines, with its biggest exports being iron and steel. •Bulgaria's GDP in 2016 was $53,236 million. •Disney's revenue in 2017 came to $55,137 million. •Disney would be the 78th country in the world by GDP if it were a country. Revenues at Banco Santander were greater than Panama's GDP Panama's services sector represents nearly 80% of its GDP. •The value of Panama's GDP in 2016 was $57,821 million. •Banco Santander's revenues in 2017 were $58,089 million. •Santander Bank would come 75th in a ranking of the world's countries by GDP if it were a country. Telefónica's revenues in 2017 exceeded Luxembourg's GDP Luxembourg's economy is heavily reliant on revenues from banking, steel, and other industrial sectors. •Luxembourg's GDP in 2016 was $58,655 million. •Telefónica revenues in 2017 came to $62,341 million. •If it were a country, Telefónica would be 74th in the world by its GDP. Johnson & Johnson generated greater revenues in 2017 than Ethiopia's GDP Agriculture of crops such as coffee, pulses, cereals, potatoes, and sugarcane accounts for a large part of Ethiopia's GDP, its exports and its workforce. •Ethiopia's GDP value in 2016 was $73,151 million. •Johnson & Johnson revenues in 2017 were $76,450 million. •Johnson & Johnson would be 67th country in the world by its GDP if it were a country. Microsoft's revenue surpassed Slovakia's GDP Slovakia's largest financial centre lies in Bratislava, its capital. •Slovakia's GDP in 2016 was $89,806 million. •Microsoft's revenues in 2017 were $89,950 million. •Microsoft would be 65th in the world by its GDP if it were a country. Nike's profits in 2017 were greater than Cameroon's GDP Cameroon's oil reserves and good agricultural conditions mean it has one of the best primary commodity economies in sub-Saharan Africa. •Cameroon's GDP in 2016 was $32,230 million. •Nike revenues in 2017 totalled $34,400 million. •Going off its total revenue, Nike would be 96th in the world if it were a country. Coca-Cola's revenue in 2017 was greater than Bolivia's GDP Mining of products such as natural gas and zinc currently dominates Bolivia's export economy. •Bolivia's GDP in 2016 was $34,053 million. •Coca-Cola revenues in 2017 were $35,410 million. •Coca-Cola would be 95th in the world by its GDP. Iberdrola's takings surpassed the GDP of the Ivory Coast The Ivory Coast is largely market-based and is bolstered considerably by the agricultural sector. •The GDP of the Ivory Coast in 2016 was $36,375 million dollars. •Iberdrola revenues in 2017 totalled $37,299 million. •Iberdrola would be 91st wealthiest in the world if it were a country. Facebook's income was greater than Serbia's GDP Strong areas in Serbia's economy include the energy sector, the automotive industry, as well as machinery, mining, and agriculture. •Serbia's GDP in 2016 was $38,300 million. •Facebook revenues in 2017 came to a total of $39,300 million. •Facebook would be the 90th in the world by GDP if it were a country. Repsol's revenues were higher than Lebanon's GDP Lebanon's economy is service-oriented, with the predominant part of its growth seen in sectors like banking and tourism. •Lebanon's GDP in 2016 was $49,611 million. •Repsol revenues in 2017 were $49,747 million. •Repsol would be 81st in the world if its revenues represented its GDP.

Corporations dominate world’s top 100 economic entities Pat Sweet,Reporter, Accountancy Daily 14 Sep 2016 Corporations vs governments revenues: 2015 data for the top 30 Rank Type Name Revenue (USD) 1 Government United States $3,251,000,000,000 2 Government China $2,426,000,000,000 3 Government Germany $1,515,000,000,000 4 Government Japan $1,439,000,000,000 5 Government France $1,253,000,000,000 6 Government United Kingdom $1,101,000,000,000 7 Government Italy $876,000,000,000 8 Government Brazil $631,000,000,000 9 Government Canada $585,000,000,000 10 Corporation Walmart $482,130,000,000 11 Government Spain $473,600,000,000 12 Government Australia $425,700,000,000 13 Government Netherlands $336,500,000,000 14 Corporation State Grid $329,601,000,000 15 Corporation China National Petroleum $299,271,000,000 16 Corporation Sinopec Group $294,344,000,000 17 Government Korea, South $291,300,000,000 18 Corporation Royal Dutch Shell $272,156,000,000 19 Government Mexico $259,600,000,000 20 Government Sweden $250,800,000,000 21 Corporation Exxon Mobil $246,204,000,000 22 Corporation Volkswagen $236,600,000,000 23 Corporation Toyota Motor $236,592,000,000 24 Government India $236,000,000,000 25 Corporation Apple $233,715,000,000 26 Government Belgium $226,800,000,000 27 Corporation BP $225,982,000,000 28 Government Switzerland $221,900,000,000 29 Government Norway $220,200,000,000 30 Government Russia $216,300,000,000

The Countries More Profitable Than Countries Notable Stats - The 10 most profitable companies combined would be the third wealthiest country, with a higher GDP than Japan. - Saudi Aramco, the world’s richest company, is more profitable than Italy, Brazil, Canada and Russia. - The UK’s richest corporations have a larger market cap than Belgium, Sweden and Thailand. - Apple’s CEO takes home the highest salary at £96.6 million. It would take the average Apple employee 784 years to make his yearly salary. The world’s richest companies have seen their wealth take on new dimensions. Apple, Amazon and Microsoft might be big players in the tech industry, but their market cap far outstrips that of many countries. ABC Finance has analysed the most profitable companies across the globe, providing them with country status based on GDP (nominal) to see where they would sit within the world. And, the results may surprise you…

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Beder, Sharon. Global Spin. The Corporate Assault on Environmentalism. Cambridge: Green Books Ltd., 2002.

📖 Beder, Sharon. Global Spin. The Corporate Assault on Environmentalism. Cambridge: Green Books Ltd., 2002.