Web table 28.

The world's top 100 non-financial TNCs, ranked by foreign assets, 2011 a
(Millions of dollars and number of employees)

Ranking by: Assets Sales Employment

Foreign TNI b
TNI b
Corporation Home economy Industry c
Foreign Total Foreign Total Foreign d Total
assets (Per cent)

1 67 General Electric Co United States Electrical & electronic equipment 502 612 717 242 77 480 147 300 170 000 301 000 59.7

2 31 Royal Dutch Shell plc Netherlands/United Kingdom Petroleum expl./ref./distr. 296 449 345 257 282 673 470 171 75 000 90 000 76.4

3 21 BP plc United Kingdom Petroleum expl./ref./distr. 263 577 293 068 308 437 386 463 68 005 83 433 83.8
4 51 Exxon Mobil Corporation United States Petroleum expl./ref./distr. 214 231 331 052 316 686 433 526 49 496 82 100 66.0
5 86 Toyota Motor Corporation Japan Motor vehicles 214 117 372 566 142 888 235 200 123 655 325 905 52.1
6 29 Total SA France Petroleum expl./ref./distr. 211 314 228 036 197 480 256 732 61 067 96 104 77.7

7 63 GDF Suez France Utilities (Electricity, gas and water) 194 422 296 650 82 731 126 040 110 554 218 873 60.6

8 10 Vodafone Group Plc United Kingdom Telecommunications 171 941 186 176 65 448 74 089 75 476 83 862 e
90.2
9 73 Enel SpA Italy Electricity, gas and water 153 665 236 037 66 817 110 528 36 656 75 360 58.1
10 27 Telefonica SA Spain Telecommunications 147 903 180 186 63 014 87 346 231 066 286 145 78.3
11 70 Chevron Corporation United States Petroleum expl./ref./distr. 139 816 209 474 139 344 236 286 31 000 61 000 58.8

12 71 E.ON AG Germany Utilities (Electricity, gas and water) 133 006 212 499 90 958 157 011 43 756 78 889 58.7

13 58 Eni SpA Italy Petroleum expl./ref./distr. 122 081 198 700 106 240 153 631 45 516 78 686 62.8
14 8 ArcelorMittal Luxembourg Metal and metal products 117 023 121 880 93 679 93 973 197 149 260 523 90.5
15 1 Nestlé SA Switzerland Food, beverages and tobacco 116 130 121 257 92 166 94 191 318 301 328 000 96.9
16 60 Volkswagen Group Germany Motor vehicles 115 081 221 486 173 390 221 486 277 105 501 956 61.8
17 30 Siemens AG Germany Electrical & electronic equipment 112 356 141 750 87 418 102 488 244 000 360 000 77.4
18 4 Anheuser-Busch InBev NV Belgium Food, beverages and tobacco 106 336 112 427 34 944 39 046 108 446 116 278 92.4
19 41 Honda Motor Co Ltd Japan Motor vehicles 105 151 143 196 78 134 100 594 109 400 179 060 e
70.7
20 83 Deutsche Telekom AG Germany Telecommunications 102 047 170 339 44 887 81 530 113 568 235 132 54.4
21 72 Pfizer Inc United States Pharmaceuticals 100 394 188 002 40 492 67 425 64 420 103 700 58.5
22 95 Mitsubishi Corporation Japan Wholesale trade 98 171 153 015 47 157 254 725 17 615 58 723 37.6

23 98 EDF SA France Utilities (Electricity, gas and water) 95 001 322 084 35 486 90 780 28 902 156 168 29.0

24 81 Daimler AG Germany Motor vehicles 94 157 205 910 120 638 148 096 103 686 271 370 55.1

25 69 Iberdrola SA Spain Utilities (Electricity, gas and water) 88 048 134 702 23 211 44 896 19 436 31 885 59.3

26 49 Sanofi France Pharmaceuticals 85 768 139 234 42 095 46 412 55 380 113 719 67.0
27 32 Fiat S.p.A. Italy Motor vehicles 85 238 111 247 69 921 82 790 134 438 197 021 76.4
28 94 ConocoPhillips United States Petroleum expl./ref./distr. 82 683 153 230 85 684 230 859 8 529 29 800 39.9
29 50 BMW AG Germany Motor vehicles 79 351 171 572 77 790 95 664 73 324 100 306 66.9
30 38 EADS N.V. France Aircraft 77 793 122 986 61 671 68 290 84 721 133 115 72.4
31 23 Hutchison Whampoa Limited Hong Kong, China Diversified 77 291 92 788 23 477 30 023 206 986 250 000 81.4
32 88 General Motors Co United States Motor vehicles 77 092 144 603 69 045 150 276 106 000 207 000 50.2
33 89 Ford Motor Company United States Motor vehicles 76 998 179 248 65 099 136 264 85 000 164 000 47.5
34 97 Wal-Mart Stores Inc United States Retail & Trade 74 660 180 663 109 232 421 849 800 000 2 100 000 35.1
35 68 Sony Corporation Japan Electrical & electronic equipment 73 839 161 610 55 543 82 180 109 200 168 200 e
59.4
36 92 France Telecom S.A. France Telecommunications 73 082 133 560 23 818 62 937 66 699 171 949 43.8
37 62 Nissan Motor Co Ltd Japan Motor vehicles 71 912 134 582 90 879 119 084 82 223 155 099 e
60.9
38 3 Xstrata PLC Switzerland Mining & quarrying 71 771 74 832 30 425 33 877 38 248 40 391 93.5
 Web table 28. The world's top 100 non-financial TNCs, ranked by foreign assets, 2011 a
(Millions of dollars and number of employees)

Ranking by: Assets Sales Employment

Foreign TNI b
TNI b
Corporation Home economy Industry c
Foreign Total Foreign Total Foreign d Total
assets (Per cent)

39 64 Procter & Gamble Co United States Diversified 68 077 138 354 48 710 82 559 94 618 129 000 60.5
40 2 Anglo American plc United Kingdom Mining & quarrying 68 036 72 442 28 640 30 580 94 000 100 000 93.9

41 91 RWE AG Germany Utilities (Electricity, gas and water) 66 384 128 796 31 950 68 325 30 436 72 068 46.8

42 47 Rio Tinto PLC Australia/United Kingdom Mining & quarrying 65 723 119 545 58 167 60 537 34 533 67 930 67.3
43 96 Statoil ASA Norway Petroleum expl./ref./distr. 65 556 128 315 26 270 115 191 11 694 31 715 36.9
44 65 Hewlett-Packard Co United States Electrical & electronic equipment 64 969 129 517 83 134 127 245 228 392 349 600 60.3
45 44 Novartis AG Switzerland Pharmaceuticals 64 548 117 496 57 840 58 566 66 133 123 686 69.1

46 12 Unilever PLC Netherlands/United Kingdom Diversified 59 897 66 044 59 458 64 591 140 000 169 000 88.5

47 78 Repsol YPF SA Spain Petroleum expl./ref./distr. 58 336 98 634 44 115 83 572 26 441 46 575 56.2
48 80 Johnson & Johnson United States Pharmaceuticals 58 243 113 644 36 122 65 030 69 230 117 900 55.2
49 59 International Business Machines Corporation United States Electrical & electronic equipment 57 819 116 433 69 875 106 916 308 287 433 362 62.1
50 48 BASF SE Germany Chemicals 55 377 85 036 85 178 102 164 59 092 111 141 67.2
51 17 SABMiller PLC United Kingdom Food, beverages and tobacco 55 112 55 651 25 906 31 388 54 478 69 212 e
86.8
52 57 Kraft Foods Inc United States Food, beverages and tobacco 54 439 93 837 32 427 54 365 90 000 126 000 63.0
53 100 CITIC Group f China Diversified 53 251 383 375 13 854 38 978 25 285 125 215 23.2

54 46 Veolia Environnement SA France Utilities (Electricity, gas and water) 52 657 70 066 25 282 41 211 225 767 331 266 68.2

55 28 Roche Group Switzerland Pharmaceuticals 52 643 65 444 47 324 47 895 44 620 80 129 78.3
56 26 BG Group plc United Kingdom Electricity, gas and water 52 623 61 382 16 968 21 073 4 495 6 472 78.6
57 16 Lafarge SA France Non-metallic mineral products 52 244 56 601 18 625 21 245 55 722 67 924 87.3
58 42 Vattenfall AB Sweden Electricity, gas and water 51 940 78 179 17 695 25 118 26 072 34 685 70.7
59 35 Compagnie de Saint-Gobain SA France Non-metallic mineral products 49 786 64 267 42 840 58 543 145 994 194 658 75.2
60 33 GlaxoSmithKline PLC United Kingdom Pharmaceuticals 48 283 63 513 40 208 43 882 58 693 97 389 76.0
61 90 Vale SA Brazil Mining & quarrying 48 045 128 728 49 475 60 389 17 522 79 646 47.1
62 14 Barrick Gold Corporation Canada Gold mining 46 605 48 884 13 787 14 312 14 885 20 860 87.7
63 66 AP Moller - Maersk A/S Denmark Transport and storage 46 035 70 444 48 305 60 074 39 112 117 080 59.7
64 11 Schneider Electric SA France Electricity, gas and water 45 629 49 883 28 397 31 119 122 227 140 491 89.9
65 6 Nokia OYJ Finland Electrical & electronic equipment 44 767 50 327 53 297 53 738 115 456 134 171 91.4
66 55 BHP Billiton Group Ltd Australia/United Kingdom Mining & quarrying 41 158 102 891 65 209 71 739 23 975 40 757 63.2
67 93 Tesco PLC United Kingdom Retail & Trade 41 084 80 197 34 546 103 163 199 038 492 714 e
41.7
68 5 British American Tobacco PLC United Kingdom Food, beverages and tobacco 40 922 41 928 24 475 24 674 44 127 56 265 91.7
69 45 Deutsche Post AG Germany Transport and storage 40 739 53 389 50 161 73 435 255 394 423 502 68.3
70 52 Volvo AB Sweden Motor vehicles 40 637 52 647 41 104 43 062 24 541 98 162 65.9
71 53 ThyssenKrupp AG Germany Metal and metal products 40 354 60 610 40 437 60 267 110 928 180 050 65.1
72 56 Carrefour SA France Retail & Trade 39 710 66 626 65 247 115 046 302 557 412 464 63.2
73 77 Caterpillar Inc United States Construction 39 645 81 446 38 405 60 138 71 863 125 099 56.7
74 43 Bayer AG Germany Pharmaceuticals 39 206 73 346 44 315 50 776 76 000 111 800 69.6
75 9 Linde AG Germany Chemicals 37 911 40 193 17 434 19 165 43 056 50 417 90.2
76 19 Teva Pharmaceutical Industries Limited Israel Pharmaceuticals 37 840 50 142 17 691 18 312 38 644 45 754 85.5
77 15 Koninklijke Philips Electronics NV Netherlands Electrical & electronic equipment 37 658 40 264 30 425 31 386 88 373 121 888 87.7
78 22 AstraZeneca PLC United Kingdom Pharmaceuticals 37 078 52 830 31 611 33 591 49 535 57 200 83.6
 Web table 28. The world's top 100 non-financial TNCs, ranked by foreign assets, 2011 a
(Millions of dollars and number of employees)

Ranking by: Assets Sales Employment

Foreign TNI b
TNI b
Corporation Home economy Industry c
Foreign Total Foreign Total Foreign d Total
assets (Per cent)

79 84 The Coca-Cola Company United States Food, beverages and tobacco 36 917 79 974 27 843 46 542 78 800 146 200 53.3
80 82 Renault SA France Motor vehicles 36 531 101 382 42 409 59 255 73 499 128 322 55.0
81 87 Merck & Co United States Pharmaceuticals 36 453 105 128 27 552 48 047 52 900 86 000 51.2
82 20 Liberty Global Inc United States Telecommunications 35 873 36 409 9 366 9 511 12 951 22 000 85.3
83 99 Petronas - Petroliam Nasional Bhd Malaysia Petroleum expl./ref./distr. 35 511 145 099 31 563 76 822 8 325 41 628 28.5
84 85 Vivendi SA France Telecommunications 35 482 77 452 16 699 40 051 40 806 58 400 52.5
85 79 Dow Chemical Company United States Chemicals 34 606 69 224 40 611 59 985 25 705 51 705 55.8
86 25 Cemex S.A.B. de C.V. Mexico Non-metallic mineral products 34 601 39 191 11 792 15 208 32 068 44 104 79.5
87 54 Schlumberger Ltd United States Other consumer services 34 493 55 201 26 840 39 540 70 609 113 000 64.3
88 74 Abbott Laboratories United States Pharmaceuticals 34 080 60277 22 837 38 851 51 450 91 000 57.3
89 13 WPP PLC United Kingdom Business services 33 157 38 180 14 162 16 058 99 416 109 971 88.5
90 75 Japan Tobacco Inc Japan Food, beverages and tobacco 32 789 44 573 12 430 25 741 23 902 48 472 57.1
91 34 OMV AG Austria Petroleum expl./ref./distr. 32 447 39 496 31 348 47 336 23 909 30 618 75.5
92 7 ABB Ltd. Switzerland Engineering services 32 116 39648 37 230 37 990 126 350 133 600 91.2

93 76 National Grid PLC United Kingdom Utilities (Electricity, gas and water) 31 771 63 139 12 501 22 078 17 719 27 672 e
57.0

94 36 Air Liquide SA France Chemicals 31 635 33 533 16 267 20 096 22 176 46 200 74.4
95 39 TeliaSonera AB Sweden Telecommunications 31 294 37 838 9 476 14 479 18 627 26 999 72.4
96 18 Pernod-Ricard SA France Food, beverages and tobacco 31 246 36 982 9 383 10 404 15 540 18 226 86.6
97 61 Alcoa Inc United States Metal and metal products 30 671 40 120 12 656 24 951 35 000 61 000 61.5
98 40 Alstom S.A. France Engineering services 30 651 41 418 24 498 27 438 46 327 92 645 71.1

99 24 AES Corporation United States Utilities (Electricity, gas and water) 30 449 45 333 15 018 17 274 24 211 27 000 81.3

100 37 BAE Systems plc United Kingdom Aircraft 29 783 35 716 22 466 28 473 52 980 87 000 74.4

Source: UNCTAD.
a
Preliminary results based on data from the companies' financial reporting; corresponds to the financial year from 1 April 2011 to 31 March 2012.
b
TNI, the Transnationality Index, is calculated as the average of the following three ratios: foreign assets to total assets, foreign sales to total sales and foreign employment to total employment.
c
Industry classification for companies follows the United States Standard Industrial Classification as used by the United States Securities and Exchange Commission (SEC).
d
In a number of cases foreign employment data were calculated by applying the share of foreign employment in total employment of the previous year to total employment of 2011.
e
Employment data refers to revised 2010 figures, as data was not yet available.