The 2024 Global market capitalisation

  • Apple leads the global market with $3.863 trillion market capitalisation, followed closely by Nvidia at $3.355 trillion and Microsoft at $3.200 trillion.
  • Tesla ($1.385T) remains the most valuable automobile company, far ahead of traditional car manufacturers.
  • The highest-ranked non-tech company, Saudi Aramco, stands at $1.805 trillion.
  • Other trillion-dollar companies span industries such as finance (Berkshire Hathaway – $0.984T) and media (Meta – $1.514T).

The rankings show that while technology companies dominate, industries like energy, finance, media, and automobiles still hold significant market value. The presence of Saudi Aramco, Berkshire Hathaway, Meta, Tesla, and TSMC on the trillion-dollar companies list displays the continued influence of these sectors on the global economy.

Source:

Companies Market Cap

Period:

2024
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Nigeria's non-oil tax revenue solidified its dominance over oil in FIRS collections, reaching a record of ₦15.9t in 2024, more than 2.7x the ₦5.8t from oil
  • FIRS recorded ₦15.9 trillion of non-oil tax, almost three times the ₦5.8 trillion recorded for oil tax.
  • Non-oil tax revenue made up 73.3% of the total revenue collected in 2023.
  • From 2012 down to 2024, non-oil tax revenue surpassed oil tax revenue most of the time.
  • Oil taxes are petroleum profit tax and company income (oil & gas) tax while non-profit tax includes company income (non-oil) tax, gas tax, capital gains, stamp duty, NCS import VAT, and non-import VAT.

Guinea-Bissau had the highest agricultural contribution to its GDP among African countries in 2024, at 36.8%
  • Guinea-Bissau showed the highest agricultural contribution to its GDP at 36.8% in 2024.
  • Contributions range widely, with high reliance seen in Comoros (36.6%) and Ethiopia (34.9%), contrasting with lower percentages in DR Congo (17.1%) and Angola (16.4%).
  • Agriculture, forestry, and fishing contributed a notable 20.4% to Nigeria's GDP in 2024.
  • Countries with high agricultural GDP contributions are predominantly located in West and East Africa.

Burkina Faso’s GDP per capita has nearly quadrupled since 2000, marking a 297% increase over 25 years
  • Burkina Faso's GDP per capita rose from $248.9 in 2000 to an estimated $987.3 in 2024, marking a nearly 297% increase over 25 years.
  • The country saw its largest single-year jump between 2007 and 2008, rising $104.7 from $514.7 to $619.4.
  • Economic downturns were visible in 2009 (-2.9%), 2015 (-17.6%), and 2022 (-6.6%), showing vulnerability to shocks.
  • Since 2020, GDP per capita has grown 19.6%, with 2024 recording the highest value in the dataset.

Sierra Leone, Niger, and Ethiopia lead Africa’s shadow economies, with over 50% of each nation's GDP tied to informal activity
  • Estimates place Sierra Leone at the top, with about 64.5% of its GDP tied to the shadow economy.
  • Niger (56.3%) and Ethiopia (50.2%) are the only other nations where over half of economic activity is informal.
  • Even larger economies like Nigeria (30.0%) are estimated to have nearly a third of their GDP in unrecorded transactions.
  • Across the listed countries, estimates range from 28.1% to 64.5%, revealing deep but varied informality in African economies.

Nigeria's FIRS surpassed 2024 target as revenue soared 76% to a record ₦21.7 trillion
  • The FIRS collected ₦21.7 trillion, outpacing the target of ₦19.4 trillion set by the government.
  • FIRS grossed its highest revenue of all time since 2012 in 2024.
  • Comparing the values of 2021, 2022, 2023 and 2024 reveals a significant shift.
  • The tax revenue collected in 2024 surpassed the amount collected in 2023 by an outstanding 75.6%.

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