Latin America: the LATIN 500
The Pemex tower dominates the Mexico City skyline, just as the company itself dominates the nation's economy.
As markets in Europe began to feel the first chill of the winds of crisis, and China's immense industrial machine showed signs of faltering, corporate revenues in Latin America continued to gain strength last year.
The top LATIN 500 companies recorded revenues of $2.4 trillion, an 8.3 percent increase on the $2.2 trillion of the previous year. Profits, however, were 8.9 percent down at $196 billion. The TOP 500 ranking is compiled by Latin Business Chronicle and Latin Trade, based on information from the market researcher Economatica and the individual companies.
The big three of Latin American oil companies -- all of them state-owned -- topped the rankings. They were led for a second successive year by Brazil's Petrobras, followed by PdVSA of Venezuela, and Mexico's Pemex. PdVSA failed to appear in the rankings for the last two years because of a bureaucratic error -- it failed to publish its accounts on time …
THE RANKINGS
Top Ten By Country
Ten Most Profitable
Revenue Winners & Losers
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