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Visualizing the World’s Biggest Pharmaceutical Companies

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Bubble map of the largest pharmaceutical companies in the world

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Who are the World’s Biggest Pharmaceutical Companies?

Some of the world’s biggest pharmaceutical companies have played a central role in the COVID-19 pandemic.

However, it’s likely no surprise that the pandemic has also been great for many healthcare businesses. In fact, in 2020 alone, the world’s 50 largest pharmaceutical companies still combined for a whopping $851 billion in revenues.

In this graphic, using data from Companies Market Cap, we list the largest pharmaceutical companies in the world by market capitalization. It’s worth noting this list also includes healthcare companies that work closely with pharmaceuticals, including biotech, pharmaceutical retailers, clinical laboratories, etc.

Editor’s Note: A previous version of this graphic was missing some key companies such as GSK and AbbVie. They were unfortunately not included in the original source and we are now working to make sure there were no other smaller omissions. Thanks to all that sent in corrections.

The Pharmaceutical Leaders

To start, here are the top five biggest pharmaceutical companies in the world at the moment by market capitalization:

1. Johnson & Johnson

The pharmaceutical and consumer goods giant is worth $428.7 billion in market cap. They developed the third vaccine authorized for use in the U.S. and were named among the TIME100 Most Influential Companies List in 2021.

2. Roche

The Swiss pharmaceutical giant is at the forefront of oncology, immunology, infectious diseases, ophthalmology, and neuroscience. In 2019, Roche’s pharma segment sales rose by a healthy 16% to $53 billion.

3. Pfizer

Despite being the leading COVID-19 vaccine manufacturer in North America, Pfizer slid in the rankings to third place. The company has recently gained momentum, especially in the past quarter, with Q2’2021 revenues of $19.0 billion, reflecting a 86% operational growth from 2020.

4. Eli Lilly

Eli Lilly has taken a significant step towards establishing itself as a pharmaceutical industry leader. Having a market cap value of $125 billion in 2019, Eli Lilly has jumped to a current value of $214.9 billion, a significant growth of 72%.

5. Novartis

The second-biggest pharmaceutical company out of Switzerland, Novartis has been the face of the pharma industry for about 25 years. The primary manufacturer for the most recognizable drugs on the market pulled in a revenue of over $48 billion in 2020, a 3% increase compared to 2019.

Here’s how all the biggest pharmaceutical companies in the world stack up against each other:

Company Rank Company Name Market Cap Value Country
1 Johnson & Johnson
JNJ
$428.66 B 🇺🇸 USA
2 Roche
RHHBY
$320.41 B 🇨🇭 Switzerland
3 Pfizer
PFE
$219.39 B 🇺🇸 USA
4 Eli Lilly
LLY
$208.99 B 🇺🇸 USA
5 Novartis
NVS
$207.70 B 🇨🇭 Switzerland
6 AbbVie
ABBV
$202.60 B 🇺🇸 USA
7 Merck
MRK
$191.67 B 🇺🇸 USA
8 Novo Nordisk
NVO
$187.83 B 🇩🇰 Denmark
9 Astrazeneca
AZN
$152.28 B 🇬🇧 UK
10 Bristol-Myers Squibb
BMY
$145.80 B 🇺🇸 USA
11 Amgen
AMGN
$136.50 B 🇺🇸 USA
12 Sanofi
SNY
$130.37 B 🇫🇷 France
13 CVS Health
CVS
$110.49 B 🇺🇸 USA
14 GlaxoSmithKline
GSK
$104.30 B 🇬🇧 UK
15 CSL
CSL.AX
$103.10 B 🇦🇺 Australia
16 Gilead Sciences
GILD
$83.62 B 🇺🇸 USA
17 Moderna
MRNA
$83.25 B 🇺🇸 USA
18 Merck KGaA
MRK.DE
$80.61 B 🇩🇪 Germany
19 Bayer
BAYZF
$59.43 B 🇩🇪 Germany
20 Jiangsu Hengrui Medicine
600276.SS
$58.51 B 🇨🇳 China
21 Regeneron Pharmaceuticals
REGN
$55.83 B 🇺🇸 USA
22 Biogen
BIIB
$55.00 B 🇺🇸 USA
23 BioNTech
BNTX
$54.23 B 🇩🇪 Germany
24 Takeda Pharmaceutical
TAK
$52.67 B 🇯🇵 Japan
25 Lonza
LONN.SW
$52.16 B 🇨🇭 Switzerland
26 Walgreens Boots Alliance
WBA
$45.05 B 🇺🇸 USA
27 Celltrion
068270.KS
$33.80 B 🇰🇷 S. Korea
28 Astellas Pharma
ALPMF
$33.42 B 🇯🇵 Japan
29 BeiGene
BGNE
$31.65 B 🇨🇳 China
30 Eisai
4523.T
$31.20 B 🇯🇵 Japan
31 West Pharma
WST
$26.59 B 🇺🇸 USA
32 Hansoh Pharma
3692.HK
$26.00 B 🇨🇳 China
33 LabCorp
LH
$25.97 B 🇺🇸 USA
34 Otsuka Holdings
4578.T
$23.15 B 🇯🇵 Japan
35 Horizon Therapeutics
HZNP
$21.13 B 🇮🇪 Ireland
36 Alnylam Pharmaceuticals
ALNY
$20.42 B 🇺🇸 USA
37 kyowa Kirin
4151.T
$18.85 B 🇯🇵 Japan
38 Catalent
CTLT
$18.74 B 🇺🇸 USA
39 Sino Biopharmaceutical
1177.HK
$18.48 B 🇭🇰 Hong Kong
40 Bio-Techne
TECH
$17.25 B 🇺🇸 USA
41 PPD
PPD
$16.26 B 🇺🇸 USA
42 Argenx
ARGX
$16.03 B 🇳🇱 Netherlands
43 Shionogi
4507.T
$15.29 B 🇯🇵 Japan
44 Dr. Reddy’s
RDY
$11.88 B 🇮🇳 India
45 Teva Pharmaceutical Industries
TEVA
$11.21 B 🇮🇱 Israel
46 Ono Pharmaceutical
4528.T
$11.12 B 🇯🇵 Japan
47 ICON plc
ICLR
$11.09 B 🇮🇪 Ireland
48 Bausch Health
BHC
$10.47 B 🇨🇦 Canada
49 CRISPR Therapeutics
CRSP
$10.42 B 🇨🇭 Switzerland
50 Curevac
CVAC
$10.33 B 🇩🇪 Germany
51 Hualan Biological Engineering
002007.SZ
$10.31 B 🇨🇳 China
52 Vifor Pharma
VIFN.SW
$9.49 B 🇨🇭 Switzerland
53 Neurocrine Biosciences
NBIX
$9.45 B 🇺🇸 USA
54 Sinopharm
1099.HK
$9.42 B 🇨🇳 China
55 BridgeBio Pharma
BBIO
$8.89 B 🇺🇸 USA
56 Cadila Healthcare
CADILAHC.NS
$8.59 B 🇮🇳 India
57 Sumitomo Dainippon Pharma
4506.T
$8.16 B 🇯🇵 Japan
58 Tilray
TLRY
$7.89 B 🇨🇦 Canada
59 Ascendis Pharma
ASND
$7.51 B 🇩🇰 Denmark
60 Evotec
EVT.F
$7.19 B 🇩🇪 Germany
61 Lupin Limited
LUPIN.NS
$7.04 B 🇮🇳 India
62 Gland Pharma
GLAND.NS
$7.01 B 🇮🇳 India
63 Exelixis
EXEL
$6.95 B 🇺🇸 USA
64 GW Pharmaceuticals
GWPH
$6.81 B 🇬🇧 UK
65 KOBAYASHI Pharmaceutical
4967.T
$6.78 B 🇯🇵 Japan
66 Torrent Pharmaceuticals
TORNTPHARM.NS
$6.61 B 🇮🇳 India
67 Biocon
BIOCON.NS
$6.43 B 🇮🇳 India
68 PeptiDream
4587.T
$6.32 B 🇯🇵 Japan
69 Sarepta Therapeutics
SRPT
$6.25 B 🇺🇸 USA
70 Perrigo
PRGO
$6.21 B 🇮🇪 Ireland
71 Orion Corporation
ORNAV.HE
$6.11 B 🇫🇮 Finland
72 Lundbeck
LDB.F
$6.04 B 🇩🇰 Denmark
73 AbCellera
ABCL
$5.87 B 🇨🇦 Canada
74 Adaptive Biotechnologies
ADPT
$5.69 B 🇺🇸 USA
75 Intellia Therapeutics
NTLA
$5.62 B 🇺🇸 USA
76 Santen Pharmaceutical
4536.T
$5.49 B 🇯🇵 Japan
77 Nippon Shinyaku
4516.T
$5.46 B 🇯🇵 Japan
78 Beam Therapeutics
BEAM
$5.43 B 🇺🇸 USA
79 Reata Pharmaceuticals
RETA
$5.15 B 🇺🇸 USA
80 Swedish Orphan Biovitrum
SOBI.ST
$5.13 B 🇸🇪 Sweden
81 BB Biotech
BION.SW
$5.08 B 🇨🇭 Switzerland
82 Alkem Laboratories
ALKEM.NS
$5.00 B 🇮🇳 India
83 Abbott India
ABBOTINDIA.NS
$4.69 B 🇮🇳 India
84 Laurus Labs
LAURUSLABS.NS
$4.44 B 🇮🇳 India
85 Taisho Pharmaceutical
4581.T
$4.39 B 🇯🇵 Japan
86 Hanmi Pharmaceutical
008930.KS
$4.22 B 🇰🇷 S. Korea
87 Alkermes
ALKS
$3.87 B 🇮🇪 Ireland
88 Karuna Therapeutics
KRTX
$3.71 B 🇺🇸 USA
89 Shinpoong Pharm
019170.KS
$3.65 B 🇰🇷 S. Korea
90 NantKwest
NK
$3.55 B 🇺🇸 USA
91 Ipca Laboratories
IPCALAB.NS
$3.41 B 🇮🇳 India
92 Nektar Therapeutics
NKTR
$3.02 B 🇺🇸 USA
93 BioCryst Pharmaceuticals
BCRX
$3.01 B 🇺🇸 USA
94 Vericel
VCEL
$2.96 B 🇺🇸 USA
95 Dicerna Pharmaceuticals
DRNA
$2.84 B 🇺🇸 USA
96 Rocket Pharmaceuticals
RCKT
$2.74 B 🇺🇸 USA
97 Axsome Therapeutics
AXSM
$2.65 B 🇺🇸 USA
98 Natco Pharma
NATCOPHARM.NS
$2.63 B 🇮🇳 India
99 Alembic Pharmaceuticals
APLLTD.NS
$2.59 B 🇮🇳 India
100 Editas Medicine
EDIT
$2.54 B 🇺🇸 USA

World’s Largest Pharmaceutical Exporters and Importers

According to the World Trade Organization (WTO), these countries exported the most number of pharmaceuticals in the year 2019:

Rank Country Export Value (US$B)
1 🇩🇪 Germany $91.4
2 🇨🇭 Switzerland $84.8
3 🇺🇸 U.S. $55.7
4 🇧🇪 Belgium $55.7
5 🇮🇪 Ireland $55.4

In contrast, here are the biggest importers over the same period.

Rank Country Import Value (US$B)
1 🇺🇸 U.S. $132.4
2 🇩🇪 Germany $59.4
3 🇧🇪 Belgium $47.3
4 🇨🇳 China $35.7
5 🇳🇱 Netherlands $33.5

This position is hardly surprising for the U.S., where six of the world’s top 10 pharmaceutical companies are headquartered. The country also captures 45% of the global market.

The Future of Pharmaceutical Companies

If the response to the COVID-19 pandemic has taught us anything, it is that in building a patient-centered future, the pharmaceutical industry plays a key role. It has to constantly find new ways to customize medicines while researching and developing new tools and drugs.

By embracing disruptive technologies like 3D printed drugs, artificial intelligence guided therapies, and preventive medicine while working with regulatory agencies, the pharmaceutical companies will benefit from having a digital revolution.

Furthermore, emerging markets will have a more significant say in the global pharmaceutical market in the coming years. Even though ‘big pharma’ will keep raking in the massive profits they do every year, their reliance on countries like Brazil and India for research and drug production will significantly impact the years to come.

The post Visualizing the World’s Biggest Pharmaceutical Companies appeared first on Visual Capitalist.


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Chart: 30 Years of Wildfires in America

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Wildfires in America

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The Briefing

  • An average of 70,000 wildfires blaze through the U.S. each year
  • These fires destroy approximately 5.8 million acres of land on a yearly basis
  • Over 43,000 fires have started across the U.S., burning 5 million acres of land as of Sept 3, 2021

30 Years of Wildfires in America

This summer, record-breaking droughts and relentless heat waves have fueled disastrous wildfires across the United States. It’s gotten so bad, the state of California has decided to shut down all national parks for two weeks to stop the spread.

But how disastrous has this year been compared to previous years? This graphic gives a historical look at the number of wildfires in America that have occurred each year since 1990, and the acres of forest land scorched during that period.

Total Wildland Fires and Acres from 1990 to 2020

In the U.S., an average of 70,000 wildfires burn through 5.8 million acres of land each year. But some years have been worse than others.

Year # of Fires # of Acres Burned
1990 66,481 4,621,621
1991 75,754 2,953,578
1992 87,394 2,069,929
1993 58,810 1,797,574
1994 79,107 4,073,579
1995 82,234 1,840,546
1996 96,363 6,065,998
1997 66,196 2,856,959
1998 81,043 1,329,704
1999 92,487 5,626,093
2000 92,250 7,393,493
2001 84,079 3,570,911
2002 73,457 7,184,712
2003 63,629 3,960,842
2004 65,461 *8,097,880
2005 66,753 8,689,389
2006 96,385 9,873,745
2007 85,705 9,328,045
2008 78,979 5,292,468
2009 78,792 5,921,786
2010 71,971 3,422,724
2011 74,126 8,711,367
2012 67,774 9,326,238
2013 47,579 4,319,546
2014 63,312 3,595,613
2015 68,151 10,125,149
2016 67,743 5,509,995
2017 71,499 10,026,086
2018 58,083 8,767,492
2019 50,477 4,664,364
2020 58,950 10,122,336
2021* 43,250 5,024,744

*note: 2021 figures as of September 3, 2021

One particularly bad year was 2006, which had over 96,000 fires and destroyed 9.9 million acres of land across the country. It was the year of the Esperanza Fire in California, which burned 40,000 acres and cost $9 million in damages.

2015 was also a devastating year, with over 10.1 million acres destroyed across the country–the worst year on record, in terms of acres burned.

Climate Change’s Role in Wildfires

Wildfires are only expected to worsen in the near future since warmer temperatures and drier climates allow the fires to grow quickly and intensely.

We’re already starting to see climate change impact the wildfire season. For instance, autumn is usually peak wildfire season for California, but this year, one of the largest fires on record started in mid-July, and is still burning as of the date of publication.

>>Also see: North America’s Devastating Wildfires, Viewed From Space

Where does this data come from?

Source: National Interagency Fire Center
Details: 2004 fires and acres do not include state lands for North Carolina.

The post Chart: 30 Years of Wildfires in America appeared first on Visual Capitalist.


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Visualizing the Economic Impact of British Columbia’s Golden Triangle

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The following content is sponsored by British Columbia Regional Mining Alliance (BCRMA).

British Columbia's Golden Triangle

The Economic Impact of British Columbia’s Golden Triangle

At the heart of British Columbia’s mining industry lies the Golden Triangle. This region has helped transform the province’s mining industry into a significant source of revenue and investment.

In 2020, the Golden Triangle accounted for roughly 44% of the $422 million in mineral exploration expenditures in British Columbia. In 2019, the Red Chris and Brucejack mines contributed around $1 billion to the province’s estimated annual gross mining revenues.

This is infographic is sponsored by the B.C. Regional Mining Alliance (BCRMA) which brings the best of this region to the world through a partnership between indigenous groups, industry, and provincial government representatives.

Here is how the Golden Triangle began.

The Golden Triangle’s Unique Geology

Between 220 and 175 million years ago, the Golden Triangle’s wealth was forming deep in the Earth for the world to discover. Most metal deposits form from superheated water that cycle over many kilometers, collecting metal atoms as they rise to the surface of the Earth’s crust and settle into deposits.

Industry, government, and university geologists have worked for over a century to understand the Golden Triangle’s unique geology to uncover its mineral wealth. This unique geology cradles the world-class deposits that define the legendary “Golden Triangle” of British Columbia.

A History of Discovery and Mining in the Golden Triangle

Historical gold rushes brought mining to the area, but the region’s vast copper deposits will deliver the key mineral for B.C.’s green future. More than 150 mines have operated in the area since prospectors first arrived at the end of the 19th century.

  • 1861: Alexander Choquette kicked off the Stikine Gold Rush after finding gold at the confluence of the Stikine and Anuk Rivers.
  • 1918 – 1952: The first big discovery in the Golden Triangle was at the Premier Gold Mine, which started operations in 1918. It produced 2 million ounces of gold and 45 million ounces of silver. Today, Ascot Resources is re-starting processing from this gold mine.
  • 1964: The Snip Mine was discovered by Cominco but the deposit stayed dormant until 1986. The mine produced approximately 1 million ounces of gold from 1991 until 1999. Today, Skeena Resources is advancing the Snip Project.
  • 1994: Eskay became Canada’s highest-grade gold mine and the world’s fifth largest silver producer, with production above 3 million ounces of gold and 160 million ounces of silver. Skeena Resources is also bringing the Eskay mining back into production.
  • 2009: The discovery of the Brucejack gold and silver deposit led to the development of an underground mine. The mine has produced 1,230,644 ounces of gold since it began operations in 2017.
  • 2013: The KSM Project is one of the largest undeveloped gold projects in the world. A Preliminary Feasibility Study estimates proven and probable reserves total 38.8 million ounces of gold and 10.2 billion pounds of copper.
  • 2015: The Red Chris shipped its first load of copper concentrate. In 2020 metals production was 88.3 million pounds copper and 73,787 ounces gold. Imperial Metals and Newcrest jointly operate the mine.

This long tradition of discovery and mining is laying the foundations for the next generation of investment.

Today’s Golden Age for Exploration and Development

Continued exploration is necessary for new discoveries and advancing projects to new mines. More importantly, the minerals discovered today will be needed in the low carbon economy and British Columbia—in particular, the Golden Triangle will play its part in delivering metals for renewable technology.

  British Columbia Northwest Mining Region The Golden Triangle
2020 Projects 259 67 26
Total Expenditures $422M $255M $184M
Drilling (meters) 991,319 470,058 352,247
Average Expenditure Per Project $1.6M $3.4M $7.09M

Source: Based on data collected for the EY LLP, 2020 British Columbia Mineral and Coal Exploration Survey

Gold and copper account for most of the exploration in the Golden Triangle, but other commodities for the low-carbon economy such as silver, nickel, and zinc also attract interest. A strong exploration industry is the beginning for future investment, new jobs, and community development.

A Bright Future: Investing in Community

The Golden Triangle continues to attract exploration activity as infrastructure and community development lays the success for future generations and industries.

Community:

  • Agreements with First Nations (Tahltan and Nisga’a Nations)
  • 38% of expenditures stays in the region
  • 97% stays in British Columbia
  • 150+ communities benefit

Infrastructure:

  • The paving of the Stewart-Cassiar highway
  • The opening of ocean port facilities for concentrate export at Stewart
  • The completion of a $700-million high-voltage transmission line bringing power into the region

This is a new beginning for the continued economic impact of British Columbia’s Golden Triangle.

The post Visualizing the Economic Impact of British Columbia’s Golden Triangle appeared first on Visual Capitalist.


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Mapping The Biggest Companies By Market Cap in 60 Countries

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Mapping The Biggest Companies By Market Cap in 60 Countries 1200px

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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.

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.

The post Mapping The Biggest Companies By Market Cap in 60 Countries appeared first on Visual Capitalist.


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A Geographic Breakdown of the MSCI ACWI IMI

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The following content is sponsored by MSCI

MSCI ACWI IMI

A Geographic Breakdown of the MSCI ACWI IMI Index

How can investors track stock markets around the world?

Using the MSCI All Countries World Index Investable Market Index (MSCI ACWI IMI), investors can benchmark their portfolios to a comprehensive group of developed and emerging markets. With over $4.2 trillion in assets benchmarked to the ACWI—about 4% of all managed assets globally—the index is widely quoted.

In this graphic from MSCI, we explore a geographic breakdown of the MSCI ACWI IMI index, and how it has changed over time.

What is the MSCI ACWI IMI?

The MSCI ACWI IMI is a leading global equity index. It tracks the performance of a basket of securities that are intended to represent the entire global stock market. Altogether, it covers:

  • 9,200 securities
  • 23 developed markets
  • 27 emerging markets
  • 99% of the investable global equity market

Using a standardized approach, the index includes businesses of all sizes from small to large market capitalization.

Market Weights

The MSCI ACWI IMI Index is broken down into broad regions and specific markets, such as North America and the U.S. respectively. Below, we show the specific market weights of the index as of July 31, 2011 and July 31, 2021. We also show how much these weights have increased or decreased over the last 10 years.

Market Region 2011 Weight 2021 Weight Percentage Point Change
Canada North America 4.74% 2.91% -1.8 p.p.
U.S. North America 43.34% 58.61% 15.3 p.p.
Austria EMEA 0.16% 0.08% -0.1 p.p.
Belgium EMEA 0.39% 0.27% -0.1 p.p.
Denmark EMEA 0.42% 0.68% 0.3 p.p.
Finland EMEA 0.37% 0.33% 0.0 p.p.
France EMEA 3.50% 2.73% -0.8 p.p.
Germany EMEA 3.24% 2.31% -0.9 p.p.
Ireland EMEA 0.13% 0.18% 0.1 p.p.
Israel EMEA 0.29% 0.26% 0.0 p.p.
Italy EMEA 0.99% 0.67% -0.3 p.p.
Netherlands EMEA 0.92% 1.11% 0.2 p.p.
Norway EMEA 0.42% 0.24% -0.2 p.p.
Portugal EMEA 0.10% 0.05% -0.1 p.p.
Spain EMEA 1.21% 0.61% -0.6 p.p.
Sweden EMEA 1.20% 1.20% 0.0 p.p.
Switzerland EMEA 3.09% 2.47% -0.6 p.p.
United Kingdom EMEA 8.28% 3.99% -4.3 p.p.
Argentina EM 0.00% 0.02% 0.0 p.p.
Brazil EM 1.86% 0.65% -1.2 p.p.
Chile EM 0.21% 0.06% -0.2 p.p.
China EM 2.32% 3.76% 1.4 p.p.
Colombia EM 0.10% 0.02% -0.1 p.p.
Czech Republic EM 0.05% 0.01% 0.0 p.p.
Egypt EM 0.05% 0.01% 0.0 p.p.
Greece EM 0.10% 0.03% -0.1 p.p.
Hungary EM 0.05% 0.03% 0.0 p.p.
India EM 1.01% 1.40% 0.4 p.p.
Indonesia EM 0.39% 0.14% -0.2 p.p.
Korea EM 2.07% 1.67% -0.4 p.p.
Kuwait EM 0.00% 0.07% 0.1 p.p.
Malaysia EM 0.44% 0.18% -0.3 p.p.
Mexico EM 0.55% 0.23% -0.3 p.p.
Pakistan EM 0.00% 0.01% 0.0 p.p.
Peru EM 0.06% 0.02% 0.0 p.p.
Philippines EM 0.09% 0.07% 0.0 p.p.
Poland EM 0.23% 0.10% -0.1 p.p.
Qatar EM 0.00% 0.08% 0.1 p.p.
Russia EM 0.85% 0.38% -0.5 p.p.
Saudi Arabia EM 0.00% 0.36% 0.4 p.p.
South Africa EM 1.00% 0.44% -0.6 p.p.
Taiwan EM 1.63% 1.85% 0.2 p.p.
Thailand EM 0.28% 0.22% -0.1 p.p.
Turkey EM 0.20% 0.05% -0.1 p.p.
United Arab Emirates EM 0.00% 0.09% 0.1 p.p.
Australia Asia Pacific 3.34% 1.94% -1.4 p.p.
Hong Kong Asia Pacific 1.11% 0.79% -0.3 p.p.
Japan Asia Pacific 8.37% 6.22% -2.2 p.p.
New Zealand Asia Pacific 0.07% 0.09% 0.0 p.p.
Singapore Asia Pacific 0.74% 0.32% -0.4 p.p.

Note: numbers may not sum to 100 due to rounding. EM stands for Emerging Markets, and EMEA stands for Europe, Middle East, and Africa.

Over the last decade, the UK’s index weighting has halved. Brexit uncertainty caused British stocks to underperform relative to other markets. In addition, the UK’s public equity marketing has been shrinking, with the number of listed companies falling by 21% in just eight years.

Japan saw its weighting decline by more than two percentage points. The country has faced a very slow recovery since the asset price bubble in 1989, and the stock market has yet to surpass its previous peak.

On the other hand, China’s weighting in the MSCI ACWI IMI has increased over the last 10 years. This is primarily due to two factors:

  • China A shares, shares of mainland China based companies that are quoted in the local renminbi currency, were previously only available to domestic investors. China’s market reforms made them more widely accessible to international investors.
  • As accessibility and growth increased in the region, foreign investors expressed increased interest in the Chinese market. This drove up demand for the country’s stocks.

Perhaps the biggest takeaway from this data is the increasing dominance of the U.S. stock market, which now makes up almost 60% of the index. What implications does this have on the MSCI ACWI IMI index’s diversification?

Revenue Exposure of the MSCI ACWI IMI

As it turns out, the index is more diversified than it may seem at first glance. American companies have international operations, and earn revenue from many different markets. This makes the revenue exposure of the index much more spread out across each region.

Region % of Revenue Exposure
EM 36.4%
North America 31.9%
EMEA 16.7%
Asia Pacific 12.0%
Other 3.1%

Note: numbers may not sum to 100 due to rounding. Countries included in Other are Bosnia and Herzegovina, Bangladesh, Burkina Faso, Bulgaria, Bahrain, Benin, Botswana, Cote D’Ivoire, Estonia, Ghana, Guinea-Bissau, Croatia, Iceland, Jamaica, Jordan, Kenya, Kazakhstan, Lebanon, Sri Lanka, Lithuania, Morocco, Mali, Mauritius, Niger, Nigeria, Oman, Palestine, Romania, Serbia, Slovenia, Senegal, Togo, Tunisia, Trinidad and Tobago, Ukraine, Vietnam and Zimbabwe.

On a revenue exposure basis, North America—where the U.S. is by far the largest market—has a weighting of just over 30%. Emerging markets take the top spot, making up over a third of the index’s revenue exposure. This presents an opportunity for investors, as these markets are projected to have higher GDP growth compared to North America.

Broad Exposure

For investors looking to capture the world’s stock market performance, the MSCI ACWI IMI can be a good benchmark. The index offers comprehensive and diversified exposure to various markets. Through regular reviews and rebalancing, it also adjusts to market movements. This ensures it continues to accurately reflect the composition of the global stock market over time.

While investors can’t invest in the index itself, they can invest in a product that tracks the index—and be poised to take advantage of opportunities around the globe.

The post A Geographic Breakdown of the MSCI ACWI IMI appeared first on Visual Capitalist.


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