Mapping The Biggest Companies By Market Cap in 60 Countries
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Mapping The Biggest Companies By Market Cap in 60 Countries

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The Biggest Companies By Market Cap in 60 Countries

Tech giants are increasingly making up more of the Fortune 500, but the world’s biggest companies by market cap aren’t so cut and dry.

Despite accounting for the largest market caps worldwide—with trillion-dollar companies like Apple and contenders including Tencent and Samsung—tech wealth is largely concentrated in just a handful of countries.

So what are the biggest companies in each country? We mapped the largest company by market cap across 60 countries in August 2021 using market data from CompaniesMarketCap, TradingView, and MarketScreener.

What are the Largest Companies in the World?

The world has 60+ stock exchanges, and each one has a top company. We looked at the largest local company, since many of the world’s largest firms trade on multiple exchanges, and converted market cap to USD.

CountryCompanyIndustryMarket Cap (August 2021)
USAAppleTechnology$2.5T
Saudi ArabiaSaudi AramcoEnergy$1.9T
TaiwanTSMCTechnology$594.5B
ChinaTencentTechnology$554.0B
South KoreaSamsungTechnology$429.7B
FranceLVMHConsumer Cyclical$414.3B
SwitzerlandRocheHealthcare$350.0B
NetherlandsASMLTechnology$322.6B
JapanToyotaConsumer Cyclical$251.6B
DenmarkNovo NordiskHealthcare$236.7B
IrelandAccentureTechnology$208.2B
IndiaReliance IndustriesEnergy$198.1B
AustraliaBHP GroupMaterials$191.7B
CanadaShopifyTechnology$185.7B
UKAstrazenecaHealthcare$182.0B
GermanySAPTechnology$174.6B
SingaporeSEATechnology$152.3B
Hong KongAIAFinancials$146.4B
BelgiumAnheuser-Busch InbevConsumer Staples$122.7B
SpainInditexConsumer Cyclical$108.3B
BrazilVALEMaterials$103.9B
RussiaSberbankFinancials$96.7B
ItalyEnelUtilities$93.7B
ArgentinaMercadoLibreConsumer Cyclical$89.5B
SwedenAtlas CopcoIndustrials$84.1B
South AfricaNaspersTechnology$74.1B
NorwayEquinorEnergy$67.9B
UAEEtisalatCommunication$58.7B
MexicoWalmexConsumer Staples$58.1B
IndonesiaBank Cental AsiaFinancials$54.8B
KazakhstanKaspi.kzFinancials$49.8B
QatarQNBFinancials$48.2B
FinlandNordea BankFinancials$48.0B
LuxembourgArcelorMittalMaterials$36.3B
AustriaVerbundUtilities$33.7B
ThailandPTT PCLEnergy$30.1B
ColombiaEcopetrolEnergy$26.7B
MalaysiaMaybankFinancials$23.7B
PhilippinesSM InvestmentsConsumer Cyclical$22.9B
KuwaitKuwait Finance HouseFinancials$21.9B
PortugalEDP GroupUtilities$21.0B
VietnamVinhomesReal Estate$17.1B
IsraelNICETechnology$16.9B
KenyaSafaricomCommunication$16.0B
Czech RepublicÄŒEZ GroupEnergy$15.8B
New ZealandXeroTechnology$15.8B
TurkeyQNB FinansbankFinancials$15.8B
HungaryOTP BankFinancials$15.6B
ChileEnel AmericasUtilities$14.3B
MoroccoMaroc TelecomCommunication$13.6B
PolandPKO Bank PolskiFinancials$12.6B
CyprusPolymetalMaterials$10.0B
NigeriaDangote GroupMaterials$10.0B
BahrainAhli United BankFinancials$8.6B
GreeceOTE GroupCommunication$8.4B
PeruCredicorpFinancials$8.0B
EgyptCommercial International BankFinancials$5.9B
IcelandMarelIndustrials$5.8B
OmanBank MuscatFinancials$4.2B
PanamaCopa HoldingsIndustrials$3.1B

Many are former monopolies or massive conglomerates that have grown in the public space, such as South Africa’s Naspers and India’s Reliance Industries.

Others are local subsidiaries of foreign corporations, including Mexico’s Walmex, Chile’s Enel and Turkey’s QNB Finansbank.

But even more noticeable is the economic discrepancy. Apple and Saudi Aramco are worth trillions of dollars, while the smallest companies we tracked—including Panama’s Copa Group and Oman’s Bank Muscat—are worth less than $5 billion.

Finance and Tech Dominate The Biggest Companies By Market Cap

Across the board, the largest companies were able to accumulate wealth and value.

Some are newer to the top thanks to recent success. Canada’s Shopify has become one of the world’s largest e-commerce providers, and the UK’s AstraZeneca developed one of the world’s COVID-19 vaccines.

But the reality is most companies here are old guards that grew on existing resources, or in the case of banks, accumulated wealth.

IndustryBiggest Companies by Country
Financials16
Technology12
Energy6
Materials5
Communication4
Consumer Cyclical4
Utilities4
Healthcare3
Industrials3
Consumer Staples2
Real Estate1

Banks were the most commonly found at the top of each country’s stock market. Closely behind were oil and gas giants, mining companies, and former state-owned corporations that drove most of a country’s wealth generation.

But as more economies develop and catch up to Western economies (where tech is dominant), newer innovative companies will likely put up a fight for each country’s top company crown.

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Technology

Ranked: America’s 20 Biggest Tech Layoffs Since 2020

How bad are the current layoffs in the tech sector? This visual reveals the 20 biggest tech layoffs since the start of the pandemic.

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layoffs in tech

Ranked: America’s 20 Biggest Tech Layoffs This Decade

The events of the last few years could not have been predicted by anyone. From a global pandemic and remote work as the standard, to a subsequent hiring craze, rising inflation, and now, mass layoffs.

Alphabet, Google’s parent company, essentially laid off the equivalent of a small town just weeks ago, letting go of 12,000 people—the biggest layoffs the company has ever seen in its history. Additionally, Amazon and Microsoft have also laid off 10,000 workers each in the last few months, not to mention Meta’s 11,000.

This visual puts the current layoffs in the tech industry in context and ranks the 20 biggest tech layoffs of the 2020s using data from the tracker, Layoffs.fyi.

The Top 20 Layoffs of the 2020s

Since 2020, layoffs in the tech industry have been significant, accelerating in 2022 in particular. Here’s a look at the companies that laid off the most people over the last three years.

RankCompany# Laid Off% of WorkforceAs of
#1Google12,0006%Jan 2023
#2Meta11,00013%Nov 2021
#3Amazon10,0003%Nov 2021
#4Microsoft10,0005%Jan 2023
#5Salesforce8,00010%Jan 2023
#6Amazon8,0002%Jan 2023
#7Uber6,70024%May 2020
#8Cisco4,1005%Nov 2021
#9IBM3,9002%Jan 2023
#10Twitter3,70050%Nov 2021
#11Better.com3,00033%Mar 2022
#12Groupon2,80044%Apr 2020
#13Peloton2,80020%Feb 2022
#14Carvana2,50012%May 2022
#15Katerra2,434100%Jun 2021
#16Zillow2,00025%Nov 2021
#17PayPal2,0007%Jan 2023
#18Airbnb1,90025%May 2020
#19Instacart1,877--Jan 2021
#20Wayfair1,75010%Jan 2023

Layoffs were high in 2020 thanks to the COVID-19 pandemic, halting the global economy and forcing staff reductions worldwide. After that, things were steady until the economic uncertainty of last year, which ultimately led to large-scale layoffs in tech—with many of the biggest cuts happening in the past three months.

The Cause of Layoffs

Most workforce slashings are being blamed on the impending recession. Companies are claiming they are forced to cut down the excess of the hiring boom that followed the pandemic.

Additionally, during this hiring craze competition was fierce, resulting in higher salaries for workers, which is now translating in an increased need to trim the fat thanks to the current economic conditions.

layoffs in the tech sector

Of course, the factors leading up to these recent layoffs are more nuanced than simple over-hiring plus recession narrative. In truth, there appears to be a culture shift occurring at many of America’s tech companies. As Rani Molla and Shirin Ghaffary from Recode have astutely pointed out, tech giants really want you to know they’re behaving like scrappy startups again.

Twitter’s highly publicized headcount reduction in late 2022 occurred for reasons beyond just macroeconomic factors. Elon Musk’s goal of doing more with a smaller team seemed to resonate with other founders and executives in Silicon Valley, providing an opening for others in tech space to cut down on labor costs as well. In just one example, Mark Zuckerberg hailed 2023 as the “year of efficiency” for Meta.

Meanwhile, over at Google, 12,000 jobs were put on the chopping block as the company repositions itself to win the AI race. In the words of Google’s own CEO:

“Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today… We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly.”– Sundar Pichai

The Bigger Picture in the U.S. Job Market

Beyond the tech sector, job openings continue to rise. Recent data from the Bureau of Labor Statistics (BLS) revealed a total of 11 million job openings across the U.S., an increase of almost 7% month-over-month. This means that for every unemployed worker in America right now there are 1.9 job openings available.

Additionally, hiring increased significantly in January, with employers adding 517,000 jobs. While the BLS did report a decrease in openings in information-based industries, openings are increasing rapidly especially in the food services, retail trade, and construction industries.

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