The largest industries in the world today have a huge influence in the global economy. Aside from generating massive revenues of over $27 trillion, these industries have also raked in a total of $1.5 trillion in profits (based on 2016 data) – and their successes don’t end here. Inevitably, they have become important components in many investment portfolios, including discretionary accounts from offshore investment firms such as LOM Financial.
Based on Fortune 500’s ranking which was released after the end of the different sector’s respective fiscal years, these are the top industries with the highest revenues in 2017.
Banking and Finance Industry
The global banking and financial services sectors represent one of the world’s largest grossing industries. According to the said ranking, there are 55 companies whose performances from the previous year earned their spots in Fortune’s top 500 money-makers. Included in the top ten is America’s Berkshire Hathaway with a revenue of $223.8 billion.
Another industry that’s in the ranks of the biggest industries in terms of revenue is the Automobile Industry, with 34 companies making it to the list. Examples are Japan’s Toyota Motors (with over $254.7 billion in revenue) and Germany’s Volkswagen with a revenue total of $240.2 billion.
Not surprisingly, the petroleum industry is home to the top companies in 2017 based on their revenues. In this particular industry, 28 companies were recognized by Fortune 500. Ranked fourth is China’s Sinopec, with a revenue of $267.5 billion, and Netherland’s Royal Dutch Shell with a $240 billion on the seventh place.
While the retail industry did not make it to the top three highest grossing industries, WalMart Stores actually bagged the top rank as the leading company with the largest revenue in 2017.