Top 300 co-operatives and mutuals boast worldwide turnover of over $2.4 trillion

French international banking business Groupe Crédit Agricole is the world's largest co-operative by turnover.

With $117.01 billion, the international banking group is listed number one in the World Cooperative Monitor 2023, titled Exploring the Cooperative Economy and launched by the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse).

German retailer REWE is ranked second ($82.03 billion) with another French financial institution, Groupe BPCE ($64.06), completing the top three. Alongside a list of the world's largest 300 co-operatives and mutuals, the 12th version of the Monitor also has a focus on how large co-operatives and mutuals convey their identity and inform the public about member benefits.

Jeroen Douglas, Director General of the ICA said: “The Top 300 rankings and sectoral analyses featured in this report showcase the diversity and magnitude of cooperative impact. From agriculture to finance, healthcare to energy, co-operatives are transforming industries, putting people before profits, and creating sustainable models for the benefit of all. 

Gianluca Salvatori, Secretary General of Euricse, said "Important global initiatives, such as the European Social Economy Plan, recognition within the European Industrial Strategy and the European Council Recommendation of November 2023, underscore the importance of the social economy. These initiatives also validate and challenge this type of reporting, inviting the World Cooperative Monitor (WCM) to contribute to a more precise understanding of the social economy, particularly in the co-operative sector." 

The top 300 co-operatives and mutuals in the world report a total turnover of more than $2 trillion (US dollars) based on 2021 financial data. These organisations operate in various sectors, with agriculture (105 enterprises) and insurance (96 enterprises) leading the list. Wholesale and retail trade represent the third biggest economic sector (57 enterprises) in the ranking.

Leading the sector rankings based on turnover are:

• Agriculture and Food Industries: Nonghyup (National Agricultural Cooperative Federation - NACF) (Republic of Korea)
• Industry and Utilities: Corporación Mondragón (Spain)
• Wholesale and Retail Trade: REWE Group (Germany)
• Insurance: Talanx Group (Germany)
• Financial Services: Groupe Crédit Agricole (France)
• Education, Health and Social Work: Sistema Unimed (Brazil)
• Other services: DATEV (Germany)