The World’s Top 100 Non-Financial MNEs Ranked by Foreign Assets in 2022

The World Investment Report 2023 was published by the UN’s UNCTAD agency a while ago. This report contains a wealth of information for anyone interested in the flow of funds between countries. One topic that I have wrote about from this report is the top non-financial companies. It is fascinating to analyze the these top firms as they are non-financial and any investment involves building of factories, hiring workers, etc.

With that said, the World’s Top 100 Non-Financial MNEs Ranked by Foreign Assets in 2022 are listed in the table below:

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Ranking by Foreign assets	Corporation	Home Economy	Industry	Foreign Assets in 2022 (Millions of dollars)	Total Assets
1	Toyota Motor Corporation	Japan	Motor Vehicles	383 413	557 928
2	Shell plc	United Kingdom	Mining, quarrying and petroleum	335 577	366 226
3	TotalEnergies SE	France	Petroleum Refining and Related Industries	274 337	302 827
4	Deutsche Telekom AG	Germany	Telecommunications	265 071	318 462
5	Volkswagen Group	Germany	Motor Vehicles	255 155	602 359
6	BP plc	United Kingdom	Petroleum Refining and Related Industries	238 860	286 439
7	Stellantis NV	Netherlands	Motor Vehicles	179 910	198 545
8	Anheuser-Busch InBev NV	Belgium	Food & beverages	177 639	212 216
9	British American Tobacco PLC	United Kingdom	Tobacco	176 504	184 661
10	Exxon Mobil Corporation	United States	Petroleum Refining and Related Industries	176 225	369 067
11	Enel SpA	Italy	Electricity, gas and water	163 295	234 234
12	EDF SA	France	Electricity, gas and water	162 096	413 963
13	Chevron Corporation	United States	Petroleum Refining and Related Industries	159 204	257 709
14	Vodafone Group Plc	United Kingdom	Telecommunications	154 647	169 136
15	Sony Group Corp	Japan	Consumer electronics	154 218	240 591
16	BMW AG	Germany	Motor Vehicles	153 784	263 360
17	Honda Motor Co Ltd	Japan	Motor Vehicles	145 400	185 243
18	China National Petroleum Corp (CNPC)	China	Mining, quarrying and petroleum	140 644	670 315
19	CK Hutchison Holdings Limited	Hong Kong, China	Retail Trade	136 917	147 292
20	Microsoft Corporation	United States	Computer and Data Processing	131 442	364 840
21	Siemens AG	Germany	Industrial and Commercial Machinery	129 795	147 677
22	Mercedes-Benz Group	Germany	Motor Vehicles	128 010	277 320
23	Sinochem Holdings	China	Chemicals and Allied Products	127 804	245 526
24	Iberdrola SA	Spain	Electricity, gas and water	123 485	164 961
25	Johnson & Johnson	United States	Pharmaceuticals	121 095	187 378
26	Eni SpA	Italy	Petroleum Refining and Related Industries	115 207	162 255
27	Hon Hai Precision Industries	Taiwan Province of China	Electronic components	115 110	134 508
28	RWE AG	Germany	Electricity, gas and water	114 284	147 769
29	Nestlé SA	Switzerland	Food & beverages	114 132	146 428
30	Glencore PLC	Switzerland	Mining, quarrying and petroleum	106 228	131 810
31	Huawei Investment & Holding Co Ltd	China	Communications equipment	103 384	154 204
32	Takeda Pharmaceutical Company Limited	Japan	Pharmaceuticals	100 542	104 806
33	Rio Tinto PLC	United Kingdom	Mining, quarrying and petroleum	96 564	96 744
34	Alphabet Inc	United States	Computer and Data Processing	96 266	365 264
35	Sinopec – China Petrochemical Corporation	China	Petroleum Refining and Related Industries	96 003	386 619
36	Engie	France	Electricity, gas and water	92 427	251 163
37	Apple Inc	United States	Computer Equipment	92 115	352 755
38	Mitsubishi Corporation	Japan	Wholesale Petroleum and Fuels	90 971	166 342
39	ArcelorMittal	Luxembourg	Metals and metal products	90 946	94 224
40	Bayer AG	Germany	Pharmaceuticals	90 873	133 188
41	Saudi Aramco	Saudi Arabia	Mining, quarrying and petroleum	89 333	664 780
42	Amazon.com, Inc	United States	E-Commerce	88 408	462 675
43	Medtronic plc	Ireland	Instruments and related products	88 006	90 981
44	Christian Dior SA	France	Textiles, clothing and leather	87 176	140 733
45	Telefonica SA	Spain	Telecommunications	87 164	116 939
46	Pfizer Inc	United States	Pharmaceuticals	85 976	197 205
47	Nippon Telegraph & Telephone Corporation	Japan	Telecommunications	84 378	190 039
48	China COSCO Shipping Corp Ltd	China	Transport and storage	83 687	156 073
49	Roche Group	Switzerland	Pharmaceuticals	83 680	95 484
50	Mitsui & Co Ltd	Japan	Wholesale Metals and Minerals	82 835	115 492
51	Unilever PLC	United Kingdom	Food & beverages	82 666	88 827
52	Samsung Electronics Co., Ltd.	Korea, Republic of	Communications equipment	81 893	355 846
53	Novartis AG	Switzerland	Pharmaceuticals	79 662	117 606
54	AstraZeneca PLC	United Kingdom	Pharmaceuticals	79 232	95 920
55	Sanofi	France	Pharmaceuticals	79 184	135 156
56	Linde PLC	United Kingdom	Chemicals and Allied Products	77 277	79 658
57	Ford Motor Company	United States	Motor Vehicles	77 195	255 884
58	Equinor ASA	Norway	Petroleum Refining and Related Industries	76 473	158 021
59	Nissan Motor Co Ltd	Japan	Motor Vehicles	76 250	132 144
60	China National Offshore Oil Corp (CNOOC)	China	Mining, quarrying and petroleum	75 675	212 644
61	Enbridge Inc	Canada	Electricity, gas and water	72 213	132 670
62	Trafigura Group Pte Ltd	Singapore	Wholesale Metals and Minerals	70 530	98634
63	AerCap Holdings	Ireland	Business Services	69 727	69 727
64	National Grid PLC	United Kingdom	Electricity, gas and water	68 792	114 653
65	Tencent Holdings Limited	China	Computer and Data Processing	68 603	202 402
66	Airbus SE	France	Aircraft	68 045	123 660
67	Veolia Environnement SA	France	Electricity, gas and water	67 304	78 183
68	SAP SE	Germany	Computer and Data Processing	67 080	76 961
69	Robert Bosch GmbH	Germany	Motor Vehicles	65 780	106 919
70	Mundys Spa	Italy	Construction	64 749	73 615
71	Anglo American plc	United Kingdom	Mining, quarrying and petroleum	63 269	67 014
72	BASF SE	Germany	Chemicals and Allied Products	63 115	90 094
73	General Motors Co	United States	Motor Vehicles	62 116	264 037
74	Orange SA	France	Telecommunications	61 943	116 948
75	General Electric Co	United States	Industrial and Commercial Machinery	61 783	187 788
76	Intel Corporation	United States	Electronic components	61 209	182 103
77	GlaxoSmithKline PLC	United Kingdom	Pharmaceuticals	60 419	72 334
78	Lafargeholcim Ltd	Switzerland	Building materials	60 342	62 395
79	The Coca-Cola Company	United States	Food & beverages	59 828	92 763
80	Procter & Gamble Co	United States	Household Products	58 051	117 208
81	Schneider Electric SA	France	Electricity, gas and water	57 723	62 253
82	Micron Technology	United States	Electronic components	57 572	66 283
83	Mondelez International, Inc.	United States	Food & beverages	55 635	71 161
84	Vinci SA	France	Construction	55 086	119 444
85	Hitachi Ltd	Japan	Conglomerate	54 939	93 871
86	State Grid Corporation of China	China	Electricity, gas and water	54 509	746 915
87	Comcast Corp	United States	Telecommunications	52 378	257 275
88	AP Moller – Maersk A/S	Denmark	Transport and storage	52 167	93 337
89	TC Energy Corp	Canada	Electricity, gas and water	51 948	84 464
90	Seven & i Holdings	Japan	Wholesale Trade	51 700	77 147
91	Deutsche Post AG	Germany	Transport and storage	51 694	72 822
92	IBM Corp	United States	Computer and Data Processing	50 332	127 243
93	Petronas – Petroliam Nasional Bhd	Malaysia	Mining, quarrying and petroleum	49 026	161 310
94	Legend Holdings Corporation	China	Computer Equipment	48 823	98 905
95	Air Liquide SA	France	Chemicals and Allied Products	48 684	52 814
96	Renault SA	France	Motor Vehicles	48 316	126 193
97	Walmart inc	United States	Retail Trade	48 273	243 197
98	Hanwha Corporation	Korea, Republic of	Conglomerate	48 254	167 578
99	OMV AG	Austria	Petroleum Refining and Related Industries	48 149	60 185
100	Volvo AB	Sweden	Motor Vehicles	47 091	60 329

Showing 1 to 100 of 100 entries

Source: World Investment Report 2023, UNCTAD

A few observations:

Of the 100 firms, nearly a fifth are from the US with all well-knows represented including Exxon Mobil(XOM), Apple(AAPL), Microsoft(MSFT), Johnson & Johnson(JNJ), etc.
China (incl. Hong Kong) has 10 firms in this list.
Of the two major aircraft manufacturers, Airbus SE(EADSY) was ranked at 66.
Oil firms are well represented in this global top 100. Malaysia’s Petronas and world’s biggest oil major Saudi Aramco are also in the list.
Europe’s economic powerhouse Germany has 11 firms appearing in this ranking.