Study: Apple and ten other companies generate more revenue than most nations

from "Study: big corporations dominate list of world's top economic entities," The Guardian

The world’s biggest corporations have increased their wealth compared with nation states in the last year, illustrating the growing power of multinational businesses.

A study by the anti-poverty charity Global Justice Now found that the number of businesses in the top 100 economic entities jumped to 69 in 2015 from 63 in the previous year. While many emerging market economies have struggled to grow in the last couple of years, mainly as a result of China’s slowdown, many of the world’s largest corporations have increased in size.

The London-based campaign group said the 10 biggest corporations – including Walmart, Apple and Shell – make more money than most countries in the world combined. The charity blamed governments for bowing to pressure from multinational firms to promote business-friendly tax regimes above the needs of their citizens.

An assessment of the top 200 entities found that many smaller countries were squeezed out, leaving 153 corporations above many nations from Africa, Asia and South America.

The US, China, Germany, Japan, France and the UK make up the top six economic entities followed by Italy, Brazil and Canada.

Walmart ranks as the 10th largest, followed by China’s electricity monopoly State Grid at number 14, China National Petroleum at 15 and Chinese oil firm Sinopec Group at 16. Apple ranked 26th behind the 18th-placed Royal Dutch Shell, with Exxon Mobil at 21, Volkswagen at 22 and Toyota at 23.

The value of the top 10 corporations was $285tn (£215tn), beating the $280tn worth of the bottom 180 countries, which include Ireland, Indonesia, Israel, Colombia, Greece, South Africa, Iraq and Vietnam. (more)