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.
| Country | Company | Industry | Market Cap (August 2021) |
|---|---|---|---|
| USA | Apple | Technology | $2.5T |
| Saudi Arabia | Saudi Aramco | Energy | $1.9T |
| Taiwan | TSMC | Technology | $594.5B |
| China | Tencent | Technology | $554.0B |
| South Korea | Samsung | Technology | $429.7B |
| France | LVMH | Consumer Cyclical | $414.3B |
| Switzerland | Roche | Healthcare | $350.0B |
| Netherlands | ASML | Technology | $322.6B |
| Japan | Toyota | Consumer Cyclical | $251.6B |
| Denmark | Novo Nordisk | Healthcare | $236.7B |
| Ireland | Accenture | Technology | $208.2B |
| India | Reliance Industries | Energy | $198.1B |
| Australia | BHP Group | Materials | $191.7B |
| Canada | Shopify | Technology | $185.7B |
| UK | Astrazeneca | Healthcare | $182.0B |
| Germany | SAP | Technology | $174.6B |
| Singapore | SEA | Technology | $152.3B |
| Hong Kong | AIA | Financials | $146.4B |
| Belgium | Anheuser-Busch Inbev | Consumer Staples | $122.7B |
| Spain | Inditex | Consumer Cyclical | $108.3B |
| Brazil | VALE | Materials | $103.9B |
| Russia | Sberbank | Financials | $96.7B |
| Italy | Enel | Utilities | $93.7B |
| Argentina | MercadoLibre | Consumer Cyclical | $89.5B |
| Sweden | Atlas Copco | Industrials | $84.1B |
| South Africa | Naspers | Technology | $74.1B |
| Norway | Equinor | Energy | $67.9B |
| UAE | Etisalat | Communication | $58.7B |
| Mexico | Walmex | Consumer Staples | $58.1B |
| Indonesia | Bank Cental Asia | Financials | $54.8B |
| Kazakhstan | Kaspi.kz | Financials | $49.8B |
| Qatar | QNB | Financials | $48.2B |
| Finland | Nordea Bank | Financials | $48.0B |
| Luxembourg | ArcelorMittal | Materials | $36.3B |
| Austria | Verbund | Utilities | $33.7B |
| Thailand | PTT PCL | Energy | $30.1B |
| Colombia | Ecopetrol | Energy | $26.7B |
| Malaysia | Maybank | Financials | $23.7B |
| Philippines | SM Investments | Consumer Cyclical | $22.9B |
| Kuwait | Kuwait Finance House | Financials | $21.9B |
| Portugal | EDP Group | Utilities | $21.0B |
| Vietnam | Vinhomes | Real Estate | $17.1B |
| Israel | NICE | Technology | $16.9B |
| Kenya | Safaricom | Communication | $16.0B |
| Czech Republic | ÄŒEZ Group | Energy | $15.8B |
| New Zealand | Xero | Technology | $15.8B |
| Turkey | QNB Finansbank | Financials | $15.8B |
| Hungary | OTP Bank | Financials | $15.6B |
| Chile | Enel Americas | Utilities | $14.3B |
| Morocco | Maroc Telecom | Communication | $13.6B |
| Poland | PKO Bank Polski | Financials | $12.6B |
| Cyprus | Polymetal | Materials | $10.0B |
| Nigeria | Dangote Group | Materials | $10.0B |
| Bahrain | Ahli United Bank | Financials | $8.6B |
| Greece | OTE Group | Communication | $8.4B |
| Peru | Credicorp | Financials | $8.0B |
| Egypt | Commercial International Bank | Financials | $5.9B |
| Iceland | Marel | Industrials | $5.8B |
| Oman | Bank Muscat | Financials | $4.2B |
| Panama | Copa Holdings | Industrials | $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.
| Industry | Biggest Companies by Country |
|---|---|
| Financials | 16 |
| Technology | 12 |
| Energy | 6 |
| Materials | 5 |
| Communication | 4 |
| Consumer Cyclical | 4 |
| Utilities | 4 |
| Healthcare | 3 |
| Industrials | 3 |
| Consumer Staples | 2 |
| Real Estate | 1 |
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.
