We all know that Apple is one of the richest companies in the world. In terms of revenue, the iPhone maker earned an astounding $119.58 billion last quarter alone. But it can be hard to appreciate the scale of this number. After all, even a single billion is an unfathomable amount that most of us don’t have much experience with. Let’s put that figure into some perspective then: Apple’s 2023 revenue surpasses the economic output of more than 75% of countries.
First, it’s worth noting that I’m not talking about Apple’s market cap here. That metric currently stands at around $3 trillion, but it’s closely tied to the company’s stock price. Instead, we’re concerned with Apple’s revenue or the amount of money it makes from selling goods and services. And in that respect, it eclipses other tech giants and even medium-sized economies.
In 2023, Apple’s annual revenue amounted to $383.29 billion. And according to GDP data from the International Monetary Fund (IMF), that figure would slot Apple into the 41st position if it were a country, right between Hong Kong and South Africa. In fact, Apple records higher revenue than the GDP of developed nations like New Zealand, Finland, and Portugal, let alone smaller ones like Bulgaria, Lithuania, and oil-rich Qatar. The bottom line is that Apple’s revenue puts it ahead of most countries’ GDP.