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This question is about oil and gas industry statistics.
Is oil and gas the biggest industry in the world?
No, oil and gas isn't the biggest industry in the world. The biggest industry in the world is financial services, with a market value of $22.5 trillion. The oil and gas industry is actually the eighth-largest industry in the world, with a market value of $4.6 trillion. This makes up 3.8% of the global GDP, which is still not insignificant.
Between the number one financial services industry and the number eight oil and gas industry are (in descending order) the construction, commercial real estate, e-commerce, life and health insurance, information technology, and food industries.
Automobile manufacturing and telecommunication both fall beneath the oil and gas industry on the list of ten largest global industries with market values of $3 trillion and $1.8 trillion, respectively.
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