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EMBARGOED UNTIL RELEASE AT 8:30 a.m. EDT, Friday, August 23, 2024 Technical: Media: Mark Goddard Thomas Dail 301-278-9162 301-278-9003 BEA 24–37 Mark.Goddard@bea.gov Thomas.Dail@bea.gov Activities of U.S. Multinational Enterprises, 2022 Worldwide employment by U.S. multinational enterprises increased 2.2 percent to 44.3 million workers in 2022 (preliminary) from 43.3 million workers in 2021 (revised), according to statistics released today by the U.S. Bureau of Economic Analysis on the operations and finances of U.S. parent companies and their foreign affiliates. Employment in the United States by U.S. parents increased 2.5 percent to 30.2 million workers in 2022 (table 1). U.S. parents accounted for 68.3 percent of worldwide employment by U.S. multinational enterprises (MNEs), up from 68.1 percent in 2021 (chart 1). Employment abroad by majority-owned foreign affiliates of U.S. MNEs increased 1.5 percent to 14.0 million workers and accounted for 31.7 percent of employment by U.S. MNEs worldwide. Chart 1. Employment by U.S. Multinational Enterprises Millions of employees 40 Percent 80 35 30 25 70 Parent share of worldwide U.S. MNE employment (right axis) 60 50 20 40 15 30 10 20 5 10 0 0 1999 2004 2009 2014 2019 2020 2021 2022 U.S. parents U.S. Bureau of Economic Analysis Majority-owned foreign affiliates Page 1 of 5 U.S. parents accounted for 22.6 percent of total private industry employment in the United States in 2022, down from 23.1 percent in 2021. Employment by U.S. parents was largest in manufacturing, in retail trade, and in “other industries,” which was led by transportation and warehousing. Employment abroad by majority-owned foreign affiliates was largest in India, Mexico, and the United Kingdom (table 4). Worldwide current-dollar value added of U.S. MNEs increased 4.4 percent to $7.0 trillion. Value added by U.S. parents, a measure of their direct contribution to U.S. gross domestic product, increased 4.3 percent to $5.3 trillion (table 1). U.S parents accounted for 23.3 percent of total U.S. private-industry value added, down from 24.5 percent in 2021. Majority-owned foreign affiliate value added increased 4.6 percent to $1.6 trillion (chart 2). Value added by majority-owned foreign affiliates was largest in the United Kingdom, Canada, and Ireland (table 3). Chart 2. Value Added by U.S. Multinational Enterprises Trillions of dollars 6 5 4 3 2 1 0 2009 2014 2019 2020 2021 2022 U.S. parents Majority-owned foreign affiliates U.S. Bureau of Economic Analysis Worldwide expenditures for property, plant, and equipment of U.S. MNEs increased 11.4 percent to $1.0 trillion. Expenditures by U.S. parents accounted for $826.1 billion (table 1), and expenditures by majority-owned foreign affiliates accounted for $196.7 billion (chart 3). Worldwide research and development expenditures of U.S. MNEs increased 10.8 percent to $521.5 billion. U.S. parents accounted for expenditures of $448.9 billion (table 1), and majority-owned foreign affiliates accounted for $72.6 billion (chart 3). Additional statistics on the activities of U.S. parent companies and their foreign affiliates including sales, balance sheet and income statement items, compensation of employees, trade in goods, and more are available on BEA’s website. More industry detail for U.S. parents and more industry and country detail for foreign affiliates are also available on the website. Page 2 of 5 Updates to the statistics Statistics for 2021 were revised to incorporate newly available and revised source data (table A). Preliminary statistics for 2021 were released in November 2023 and highlighted in “Activities of U.S. Multinational Enterprises in 2021” in the Survey of Current Business in December 2023. Table A. Updates to Statistics on 2021 Activities of U.S. Multinational Enterprises [Billions of dollars, except as noted] Majority-owned foreign affiliates U.S. parents Number of employees (thousands) Value added Expenditures for property, plant, and equipment Research and development expenditures Preliminary estimate Revised estimate Preliminary estimate Revised estimate 29,520.5 5,066.2 728.8 29,502.7 5,090.0 730.2 13,807.3 1,576.4 188.6 13,813.2 1,571.9 187.9 402.7 401.1 69.9 69.4 U.S. Bureau of Economic Analysis Next release: August 2025 Activities of U.S. Multinational Enterprises, 2023 Page 3 of 5 Additional Information Resources • • • • • • • • • Stay informed about BEA developments by reading The BEA Wire, signing up for BEA’s email subscription service, or following @BEA_News on X, formerly known as Twitter. Historical time series for these estimates can be accessed in BEA’s Interactive Data Application. Access BEA data by registering for BEA’s Data Application Programming Interface. More information on the activities of U.S. multinational enterprises (MNEs) will be published in September in BEA’s online journal, the Survey of Current Business. For upcoming economic indicators, see BEA’s news release schedule. More statistics on the activities of U.S. MNEs, including more detail by industry and by country, are available on the BEA website. More information on the statistics on the activities of U.S. MNEs is provided in U.S. International Economic Accounts: Concepts and Methods. BEA also publishes a companion series on the activities of U.S. affiliates of foreign MNEs. Data for 2022 will be released November 15, 2024. Detailed microdata from BEA’s surveys are available to researchers in BEA’s Special Sworn Researcher Program under arrangements that maintain legal confidentiality requirements. Definitions A U.S. multinational enterprise is composed of the U.S. parent and its foreign affiliates. A U.S. parent is a person (in the broad legal sense to include any individual, partnership, corporation, or other form of organization), resident in the United States, that owns 10 percent or more of a foreign business enterprise, referred to as its foreign affiliate. A majority-owned foreign affiliate is a foreign business enterprise in which the combined ownership of all U.S. parents, either directly or indirectly, exceeds 50 percent. Employment covers the total number of full-time and parttime employees on the payroll at the end of the year. Value added is the value of the final goods and services produced by a firm’s labor and property. Value added represents the firm’s contribution to the gross domestic product (GDP) of the firm’s country of residence. The estimates of value added in this release were prepared by summing cost and profit data collected in BEA’s surveys of U.S. direct investment abroad and are conceptually consistent with BEAs estimates of U.S. value added by industry. Expenditures for property, plant, and equipment covers total expenditures for land and depreciable structures and equipment; they are gross of any sales, retirements, or transfers of previously owned tangible assets. Research and development (R&D) expenditures includes expenditures for R&D performed by the U.S. parent or the affiliate, whether the R&D was for their own use or for use by others and irrespective of the source of funding. Statistical conventions The statistics on the activities of U.S. MNEs are based primarily on data reported in the Annual Survey of U.S. Direct Investment Abroad (BE–11) conducted by BEA. The statistics provide information on the operations and finances of U.S. parent companies and their foreign affiliates. The statistics on foreign affiliates cover the entire operations of the affiliate, irrespective of the percentage of U.S. ownership. To compute the U.S. parent share of U.S. private industry employment, BEA used comparable statistics at the aggregate level for all U.S. private industries from BEA’s National Income and Product Accounts in line 3 (“Private industries”) of “Table 6.4D. Full-Time and Part-Time Employees by Industry.” To compute the U.S. parent share of U.S. private industry value added, BEA used comparable statistics at the aggregate level for all U.S. private industries from BEA’s GDP by Industry Accounts in line 2 (“Private industries”) of the table “Value Added by Industry.” Related statistics Statistics on the activities of U.S. MNEs are one part of a broader set of U.S. International Economic Accounts that, taken together, provide a comprehensive, integrated, and detailed picture of U.S. international economic activities. Statistics on direct investment and multinational enterprises include annual statistics on the activities of U.S. affiliates of foreign MNEs, detailed annual and quarterly statistics on direct investment, and annual statistics on new foreign investment in the United States. Statistics on international services, released annually, include detailed annual information on trade in services and Page 4 of 5 on services supplied through the channel of direct investment by affiliates of MNEs. The International Investment Position (IIP) Accounts are released quarterly. The IIP is a statistical balance sheet that presents the dollar value of U.S. financial assets and liabilities with respect to foreign residents at a specific point in time. The International Transactions Accounts (ITAs) are released quarterly. The ITAs are a statistical summary of economic activity between U.S. residents and the residents of other countries. U.S. international trade in goods and services, released by BEA and the U.S. Census Bureau, provides monthly statistics on trade in goods and services. News release tables Table 1. Selected Data for U.S. Parents by Industry of U.S. Parent, 2022 Table 2. Selected Data for Majority-Owned Foreign Affiliates by Industry of Affiliate, 2022 Table 3. Selected Data for Majority-Owned Foreign Affiliates by Country, 2022 Table 4. Employment of Majority-Owned Foreign Affiliates, Country by Industry of Affiliate, 2022 Page 5 of 5 Table 1. Selected Data for U.S. Parents by Industry of U.S. Parent, 2022 Millions of dollars Total assets All industries Mining Oil and gas extraction Other Manufacturing Food Beverages and tobacco products Textiles, apparel, and leather products Wood products Paper Printing and related support activities Petroleum and coal products Chemicals Basic chemicals Resins and synthetic rubber, fibers, and filaments Pharmaceuticals and medicines Soap, cleaning compounds, and toilet preparations Other Plastics and rubber products Nonmetallic mineral products Primary and fabricated metals Primary metals Fabricated metal products Machinery Agriculture, construction, and mining machinery Industrial machinery Other Computers and electronic products Computers and peripheral equipment Communications equipment Audio and video equipment Semiconductors and other electronic components Navigational, measuring, and other instruments Magnetic and optical media Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Furniture and related products Miscellaneous manufacturing Wholesale trade Professional and commercial equipment and supplies Petroleum and petroleum products Drugs and druggists' sundries Other Retail trade General merchandise stores Clothing and clothing accessories stores Other Information Publishing industries Motion picture and sound recording industries Broadcasting (except Internet) and telecommunications Broadcasting (except Internet) Telecommunications Data processing, hosting, and related services Other information services Finance and insurance Depository credit intermediation (banking) Finance, except depository institutions Insurance carriers and related activities Professional, scientific, and technical services Architectural, engineering, and related services Computer systems design and related services Management, scientific, and technical consulting Advertising and related services Other Other industries Agriculture, forestry, fishing, and hunting Construction Utilities Transportation and warehousing Real estate and rental and leasing Management of nonbank companies and enterprises Administration, support, and waste management Health care and social assistance Accommodation and food services Miscellaneous services (D) Suppressed to avoid disclosure of data of individual companies. U.S. Bureau of Economic Analysis (1) 54,854,678 535,521 275,695 259,827 10,513,726 844,869 467,469 47,226 14,604 128,805 18,692 1,325,723 2,638,754 238,050 164,014 1,789,127 243,036 204,528 172,954 82,625 308,237 218,130 90,107 573,375 235,926 84,572 252,878 1,501,032 445,785 140,160 28,600 598,031 288,215 242 224,474 1,649,249 955,765 693,484 21,345 494,294 2,261,342 78,819 212,999 266,519 1,703,004 1,594,998 347,306 147,131 1,100,561 3,730,047 794,860 48,641 1,918,799 537,639 1,381,160 220,631 747,116 31,179,447 13,091,432 9,805,474 8,282,541 1,150,524 50,351 551,776 196,705 79,270 272,422 3,889,074 37,213 181,275 984,916 726,366 628,817 283,804 246,033 260,049 259,620 280,980 Total liabilities (2) 41,273,649 279,360 149,140 130,219 5,985,107 491,615 286,137 24,194 10,282 81,803 13,604 634,961 1,468,910 133,474 94,053 1,020,230 120,567 100,585 102,209 44,350 168,288 117,315 50,973 356,092 167,011 44,277 144,803 758,560 343,193 82,021 (D) 206,650 111,331 (D) 135,258 1,148,960 649,886 499,075 16,153 243,732 1,306,654 47,655 120,567 201,259 937,174 1,042,116 221,232 88,597 732,287 2,058,735 383,953 36,246 1,290,623 301,469 989,154 115,082 232,830 27,246,396 11,866,996 8,274,276 7,105,125 755,206 25,629 381,769 101,309 62,619 183,880 2,600,075 19,464 116,317 693,077 533,376 355,352 44,483 189,729 196,433 226,437 225,406 Owners' equity (3) 13,581,029 256,162 126,555 129,607 4,528,619 353,254 181,332 23,032 4,322 47,002 5,088 690,762 1,169,844 104,576 69,960 768,897 122,469 103,942 70,745 38,275 139,949 100,814 39,135 217,283 68,914 40,294 108,075 742,472 102,592 58,140 (D) 391,380 176,884 (D) 89,216 500,289 305,879 194,409 5,192 250,562 954,687 31,164 92,433 65,260 765,830 552,882 126,075 58,534 368,274 1,671,312 410,907 12,395 628,176 236,170 392,005 105,549 514,286 3,933,051 1,224,436 1,531,199 1,177,416 395,318 24,723 170,006 95,397 16,651 88,541 1,288,998 17,749 64,958 291,840 192,989 273,466 239,321 56,303 63,616 33,183 55,573 Expenditures for property, plant, and equipment (4) 826,144 24,731 18,679 6,052 247,999 19,219 4,315 1,272 1,282 3,826 527 38,577 40,820 9,905 4,066 19,091 4,120 3,638 5,603 2,239 10,785 8,831 1,953 11,159 3,775 1,880 5,504 39,068 9,869 1,082 528 24,486 3,099 3 4,446 55,794 44,893 10,901 585 8,482 48,229 763 7,355 2,455 37,656 90,371 21,148 6,274 62,949 147,686 18,882 555 72,565 7,059 65,506 3,047 52,637 73,920 12,654 42,748 18,518 14,384 653 7,487 1,004 964 4,276 178,824 1,372 4,242 65,849 36,138 39,343 263 5,325 9,174 9,410 7,707 Sales (5) 17,977,830 209,027 114,286 94,741 6,063,531 623,760 129,516 38,844 20,991 93,808 17,255 1,176,969 947,759 165,857 51,112 512,776 115,197 102,818 124,911 38,804 271,602 203,549 68,053 334,527 112,801 41,991 179,734 734,946 294,025 84,674 17,510 222,478 116,226 33 127,146 1,131,508 741,341 390,167 21,141 230,043 2,422,219 124,277 275,407 660,694 1,361,840 2,531,493 834,504 170,730 1,526,259 1,315,170 283,072 25,215 655,883 150,140 505,742 83,513 267,487 2,962,297 518,451 687,489 1,756,357 589,587 54,788 178,984 78,994 38,902 237,918 1,884,507 36,392 217,299 309,241 521,904 169,682 628 175,105 190,472 142,981 120,804 Net income (6) 1,872,487 53,259 40,635 12,624 839,813 52,543 16,891 1,326 2,565 9,468 423 179,043 203,292 19,392 16,913 127,355 26,439 13,193 6,699 5,678 25,832 20,142 5,690 52,623 17,459 14,742 20,422 180,198 (D) (D) -236 49,753 5,916 (D) 10,547 65,693 45,252 20,440 798 26,193 47,732 5,405 6,841 12,794 22,692 78,182 22,729 9,249 46,205 196,413 75,795 644 19,019 -1,554 20,573 1,290 99,666 395,219 129,536 174,364 91,320 88,533 1,817 26,694 5,687 3,350 50,985 173,336 2,143 8,727 23,764 35,015 40,531 16,828 18,227 11,239 12,486 4,377 Value added (7) 5,307,984 124,521 82,074 42,448 1,859,613 154,932 43,734 8,039 6,083 28,983 5,207 284,970 352,145 43,271 21,614 216,669 42,966 27,625 32,781 13,997 73,535 50,211 23,324 112,794 42,569 16,220 54,005 313,970 150,999 38,835 4,307 73,954 45,818 58 41,256 292,907 151,378 141,529 5,203 89,076 291,602 14,226 21,957 30,531 224,888 554,118 178,443 47,033 328,642 626,269 141,939 8,340 246,023 26,768 219,255 31,646 198,322 687,271 256,952 244,048 186,271 341,582 24,060 100,124 46,775 22,222 148,401 823,007 6,098 57,722 100,502 214,916 107,965 7,432 89,471 117,936 64,095 56,869 Research and development performed by parents (8) 448,888 1,085 (D) (D) 253,804 2,979 531 220 149 489 156 1,897 92,803 1,480 3,019 83,750 2,794 1,760 1,593 628 1,302 642 660 10,474 3,520 3,447 3,506 83,691 31,003 10,444 (D) 31,551 10,017 (D) 3,618 41,546 19,037 22,509 155 11,572 11,573 307 260 7,099 3,907 2,667 0 62 2,605 116,481 36,103 (D) 4,692 (D) (D) 7,876 (D) 4,683 (D) 2,575 (D) 45,584 360 21,683 3,438 71 20,031 13,011 67 119 (D) (D) (D) 0 2,341 2,156 255 697 Compensation of employees (9) 2,788,437 28,800 7,373 21,427 797,641 67,771 11,412 7,584 2,304 16,585 3,897 39,335 142,969 18,086 7,842 89,861 14,558 12,621 21,228 7,971 36,951 20,903 16,048 64,540 16,970 13,868 33,702 135,710 45,270 17,804 3,311 39,216 30,076 34 25,521 155,677 60,866 94,810 4,397 53,789 146,551 10,317 5,095 14,205 116,934 325,103 98,828 28,745 197,529 263,921 77,283 3,968 88,450 23,558 64,892 26,078 68,142 489,007 146,510 181,218 161,279 253,329 20,755 80,596 39,793 16,458 95,727 484,087 2,838 43,602 22,991 138,143 46,673 420 68,347 88,524 41,695 30,852 Number of employees (thousands) (10) 30,240.8 215.0 43.7 171.4 7,603.8 978.0 105.2 152.7 34.5 162.0 66.4 215.1 1,033.1 127.6 63.2 503.1 176.3 162.9 296.7 102.1 445.3 248.0 197.3 646.3 143.6 100.3 402.5 887.7 225.3 109.3 26 280.4 246.5 0.2 268.4 1,602.6 741.4 861.2 62.3 545.1 1,687.7 102.1 48.7 133.0 1,403.9 6,851.6 2,588.7 838.8 3,424.2 2,062.1 533.8 58.7 890.7 277.4 613.4 219.1 359.8 3,104.7 982.5 814.1 1,308.2 1,861.5 186.8 541.6 318.6 117.5 697.1 6,854.3 46.1 369.2 169.4 1,473.4 424.0 5.2 1,227.6 1,069.9 1,434.1 635.4 Table 2. Selected Data for Majority-Owned Foreign Affiliates by Industry of Affiliate, 2022 Number of affiliates with assets, sales, or net income (+/-) greater than $25 million (1) All industries Mining Oil and gas extraction Other Manufacturing Food Beverages and tobacco products Textiles, apparel, and leather products Wood products Paper Printing and related support activities Petroleum and coal products Chemicals Basic chemicals Resins and synthetic rubber, fibers, and filaments Pharmaceuticals and medicines Soap, cleaning compounds, and toilet preparations Other Plastics and rubber products Nonmetallic mineral products Primary and fabricated metals Primary metals Fabricated metal products Machinery Agriculture, construction, and mining machinery Industrial machinery Other Computers and electronic products Computers and peripheral equipment Communications equipment Audio and video equipment Semiconductors and other electronic components Navigational, measuring, and other instruments Magnetic and optical media Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Furniture and related products Miscellaneous manufacturing Wholesale trade Professional and commercial equipment and supplies Petroleum and petroleum products Drugs and druggists' sundries Other Retail trade General merchandise stores Clothing and clothing accessories stores Other Information Publishing industries Motion picture and sound recording industries Broadcasting (except Internet) and telecommunications Broadcasting (except Internet) Telecommunications Data processing, hosting, and related services Other information services Finance and insurance Depository credit intermediation (banking) Finance, except depository institutions Insurance carriers and related activities Professional, scientific, and technical services Architectural, engineering, and related services Computer systems design and related services Management, scientific, and technical consulting Advertising and related services Other Other industries Agriculture, forestry, fishing, and hunting Construction Utilities Transportation and warehousing Real estate and rental and leasing Management of nonbank companies and enterprises Administration, support, and waste management Health care and social assistance Accommodation and food services Miscellaneous services 37,202 1,185 555 630 11,085 769 236 168 28 237 89 46 2,511 409 202 719 527 654 487 199 720 269 451 1,303 246 210 847 1,622 258 195 38 531 589 11 364 1,045 854 191 43 1,218 4,085 569 178 671 2,667 712 73 163 476 2,081 749 224 366 122 244 296 446 5,554 398 4,272 884 2,181 245 656 375 220 685 10,319 228 187 217 899 1,166 5,967 892 64 295 404 Millions of dollars Total assets (2) 28,518,462 896,713 612,430 284,282 3,524,699 301,254 166,806 31,287 9,998 52,114 11,578 118,756 927,459 130,550 69,580 523,138 80,835 123,357 70,538 56,244 143,913 74,678 69,234 271,823 71,669 45,436 154,719 658,765 219,998 29,093 7,181 289,012 109,204 4,277 62,886 323,086 260,893 62,193 3,203 314,990 1,446,237 158,690 126,924 365,138 795,485 347,208 75,612 33,504 238,093 935,524 418,598 31,883 178,074 53,988 124,086 131,014 175,955 10,297,759 2,897,846 6,112,277 1,287,636 791,341 38,975 329,847 150,485 41,315 230,718 10,278,981 30,258 33,749 88,250 220,464 273,642 9,062,351 277,922 25,928 139,920 126,495 Net property, Expenditures for plant, and property, plant, equipment and equipment (3) 1,352,553 311,103 221,234 89,869 509,174 46,023 21,990 2,181 1,913 13,435 1,032 25,136 111,338 35,437 12,000 35,041 12,680 16,180 15,600 16,271 25,948 15,619 10,329 23,893 6,405 2,824 14,663 102,174 17,814 2,487 714 75,904 5,116 139 6,705 68,904 61,766 7,138 581 26,051 51,026 3,540 9,049 9,650 28,788 54,128 (D) 3,077 (D) 104,760 38,301 2,193 26,089 2,274 23,815 18,039 20,139 46,975 9,416 28,693 8,866 42,432 1,155 24,603 3,969 2,908 9,798 232,955 7,780 4,141 37,279 44,426 68,012 1,596 8,701 8,520 24,713 27,788 (4) 196,664 30,171 22,045 8,125 82,166 5,741 3,009 364 273 1,632 123 (D) 16,061 5,167 1,527 5,672 1,651 2,043 2,299 2,091 3,328 1,793 1,535 3,416 944 524 1,948 25,740 1,701 340 (D) 22,774 706 (D) 1,198 11,153 10,265 888 48 (D) 8,259 816 590 1,925 4,927 7,901 2,565 655 4,681 23,184 (D) 319 4,372 413 3,959 5,054 (D) 7,529 953 5,055 1,521 9,582 321 5,458 1,220 408 2,174 27,874 751 411 3,755 4,370 11,918 94 2,151 413 2,427 1,583 Sales (5) 8,108,066 329,219 225,954 103,264 3,056,275 269,936 94,202 23,308 6,039 45,432 8,630 (D) 661,687 117,586 52,820 326,194 78,995 86,092 59,799 32,484 104,593 56,747 47,846 212,434 53,490 37,235 121,709 676,903 328,949 19,545 5,687 245,278 71,418 6,027 52,844 395,955 357,918 38,037 4,621 (D) 2,001,967 231,020 508,888 319,457 942,601 449,295 168,352 33,958 246,984 693,131 276,512 19,070 68,834 20,163 48,671 48,331 280,384 643,297 77,077 353,609 212,612 352,853 31,653 158,862 43,154 17,282 101,902 582,029 22,106 24,050 81,096 145,573 71,777 2,740 128,816 9,186 47,452 49,234 Net income (6) 1,330,749 62,082 45,004 17,077 256,976 11,329 11,269 3,668 716 3,038 71 (D) 70,597 11,215 5,727 41,716 6,242 5,697 3,169 2,750 6,404 2,880 3,524 23,076 4,318 11,786 6,972 68,790 29,827 1,431 157 31,183 6,086 105 3,359 14,443 10,489 3,954 149 (D) 98,719 15,961 8,474 16,413 57,871 14,715 2,216 2,942 9,557 55,015 38,889 1,726 2,280 1,454 826 3,588 8,532 149,148 23,765 108,861 16,522 52,950 1,177 18,922 7,418 1,787 23,646 641,144 2,449 1,251 7,144 10,051 11,176 591,020 14,169 329 5,379 -1,825 Value added (7) 1,644,507 146,794 100,581 46,213 643,191 33,744 54,202 7,171 1,857 11,258 1,867 (D) 136,435 21,033 10,073 75,746 13,609 15,972 14,294 9,249 20,383 9,736 10,648 53,517 12,041 16,224 25,253 136,901 54,354 4,870 1,100 59,247 17,172 159 11,513 61,363 50,076 11,286 830 (D) 202,798 28,279 19,888 35,316 119,315 76,095 (D) 7,537 (D) 139,118 72,219 4,151 17,706 5,045 12,662 13,407 31,634 116,704 31,636 55,890 29,178 157,944 8,574 67,369 21,984 8,581 51,436 161,863 5,328 5,570 11,137 38,101 37,382 -24,389 50,454 4,150 20,882 13,247 Research and development performed (8) 72,600 295 (D) (D) 33,827 745 82 75 17 197 38 (D) 9,767 261 233 8,072 521 679 508 129 259 62 197 2,798 715 673 1,410 11,075 1,091 840 257 6,778 2,101 7 688 4,616 4,015 601 14 (D) 4,894 369 (*) 3,118 1,407 (D) (*) (*) (D) 15,007 7,839 (*) (D) 2 (D) 518 (D) 75 (*) 70 4 17,290 352 5,306 686 23 10,924 (D) 144 3 9 9 (D) 7 344 (D) 5 176 Compensation of employees (9) 668,630 15,063 4,249 10,814 215,948 15,881 7,208 2,492 681 5,565 1,347 1,503 38,947 5,413 2,881 19,516 4,619 6,518 7,505 3,918 9,401 3,677 5,723 24,334 5,810 3,342 15,182 38,612 10,728 2,779 774 15,663 8,583 86 5,348 30,800 25,379 5,420 551 21,853 58,887 11,442 1,367 13,624 32,454 33,481 10,821 4,045 18,615 53,323 23,560 1,406 7,642 1,881 5,762 6,323 14,392 85,840 18,241 49,551 18,048 99,138 6,656 42,826 17,903 6,094 25,658 106,951 1,624 3,421 1,715 21,704 18,604 1,301 33,784 3,034 10,861 10,903 Number of employees (thousands) (10) 14,024.0 201.2 32.4 168.8 5,292.2 505.7 204.7 147.1 13.3 114.1 41.7 11.2 595.4 74.2 44.4 265.2 98.8 112.8 195.2 91.2 224.5 85.6 138.9 506.7 104.4 54.5 347.8 904.0 237.9 81.1 25.6 427.2 130.6 1.5 170.7 1,109.9 1,002.5 107.4 25.7 430.8 971.7 173.1 11.7 177.2 609.6 1,278.9 M 176.4 M 752.7 275.9 35.2 130.6 32.7 97.9 154.6 156.5 861.8 179.5 412.4 269.9 1,789.6 110.0 918.5 171.3 79.0 510.8 2,875.8 101.3 46.3 24.6 479.4 226.1 19.4 1,099.1 78.3 587.7 213.5 (*) A nonzero value that rounds to zero (D) Suppressed to avoid disclosure of data of individual companies. Note. Size ranges are given in employment cells that are suppressed. The size ranges are: A—1 to 499; F—500 to 999; G—1,000 to 2,499; H—2,500 to 4,999; I—5,000 to 9,999; J—10,000 to 24,999; K—25,000 to 49,999; L—50,000 to 99,999; M—100,000 or more. Note. The number of affiliates includes only the affiliates that meet the stated threshold; all other data are for all majority-owned affiliates. U.S. Bureau of Economic Analysis Table 3. Selected Data for Majority-Owned Foreign Affiliates by Country, 2022 Number of affiliates with assets, sales, or net income (+/-) greater than $25 million 37,202 2,472 18,273 242 589 184 284 157 1,301 1,837 95 178 986 743 1,313 2,281 221 331 152 243 677 410 845 190 4,326 688 (2) 28,518,462 1,266,301 18,328,188 31,192 401,922 22,569 57,596 29,939 436,209 1,228,544 10,277 134,882 1,878,290 201,158 2,248,702 3,292,947 96,934 67,053 28,211 44,835 163,496 146,165 1,052,042 20,011 6,347,602 387,610 (3) 1,352,553 164,397 489,056 3,944 17,036 4,092 3,054 1,743 31,964 53,110 1,532 2,928 61,755 17,191 10,003 36,666 8,195 12,702 2,828 5,415 16,358 8,358 15,240 1,783 117,280 55,878 6,131 2,065 270 927 235 211 61 112 108 141 1,660 111 36 1,294 119 100 2,406 105 539 40 3,347,843 758,893 55,369 332,398 214,602 28,896 5,635 32,629 20,533 68,831 484,337 18,088 3,906 439,020 13,247 10,076 2,104,613 104,412 792,313 5,806 225,515 114,399 9,855 44,604 23,041 5,473 1,260 14,957 1,236 13,973 83,245 4,333 970 72,217 2,413 3,311 27,871 264 4,338 2,042 1,485 237 933 90 94 251 498 726 237 98 236 155 8,667 1,175 1,961 944 654 213 782 305 182 211 1,017 363 292 262 82 224 1,037,825 164,257 305,778 25,515 71,877 64,201 144,185 303,812 117,018 31,523 91,362 63,908 4,966,540 791,790 516,810 496,951 239,054 72,249 1,073,694 91,925 24,163 28,618 1,199,663 153,623 99,611 88,919 18,001 71,468 12,199 10,491,283 (1) All countries Canada Europe Austria Belgium Czech Republic Denmark Finland France Germany Greece Hungary Ireland Italy Luxembourg Netherlands Norway Poland Portugal Russia Spain Sweden Switzerland Turkey United Kingdom Other Latin America and Other Western Hemisphere South America Argentina Brazil Chile Colombia Ecuador Peru Venezuela Other Central America Costa Rica Honduras Mexico Panama Other Other Western Hemisphere Barbados Bermuda Dominican Republic United Kingdom Islands, Caribbean Other Africa Egypt Nigeria South Africa Other Middle East Israel Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Indonesia Japan Malaysia New Zealand Philippines Singapore South Korea Taiwan Thailand Vietnam Other Addendum: European Union (27) Millions of dollars Expenditures for property, plant, and equipment (4) 196,664 15,213 72,749 420 3,099 653 420 241 4,563 9,625 239 412 9,531 2,834 2,302 4,777 1,028 2,175 454 647 2,486 1,400 2,580 (D) 17,106 (D) Total assets Net property, plant, and equipment Sales Net income Value added Research and development performed Compensation of employees Number of employees (thousands) (5) 8,108,066 839,990 3,697,268 24,311 249,326 16,374 19,648 11,198 215,171 395,274 7,011 17,839 550,565 126,796 89,123 307,455 36,678 53,584 11,832 39,061 92,408 39,898 432,161 26,807 855,469 79,278 (6) 1,330,749 70,161 793,613 485 13,613 987 1,029 774 9,812 26,989 488 2,414 172,038 6,978 86,695 226,114 8,440 1,443 2,259 -3,013 6,268 5,756 71,819 -82 128,710 23,596 (7) 1,644,507 156,007 769,995 4,860 32,142 5,364 4,419 2,896 54,595 89,452 2,547 3,931 120,943 32,609 8,415 57,522 17,535 13,039 3,704 9,143 17,605 10,701 54,762 6,470 190,986 26,352 (8) 72,600 5,399 38,242 310 2,686 267 560 367 2,103 6,382 65 118 4,644 1,211 132 1,698 296 437 92 291 599 917 6,279 169 8,184 434 (9) 668,630 65,917 325,267 2,697 11,218 2,327 3,028 1,536 33,333 48,299 919 1,653 14,509 16,232 2,305 18,916 3,557 6,411 1,445 3,378 11,651 5,576 13,663 1,546 115,221 5,845 (10) 14,024.0 1,183.0 4,479.3 30.5 115.1 68.4 28.5 19.5 482.0 637.5 20.7 61.1 165.5 243.7 27.8 223.3 35.9 232.6 35.4 90.7 178.2 62.6 95.5 57.0 1,350.6 217.4 33,771 17,982 1,200 7,780 2,370 746 (D) 1,189 188 (D) 13,102 1,656 111 10,636 136 564 2,686 6 428 175 909,479 362,103 39,361 196,322 46,012 22,655 5,199 22,216 9,501 20,835 374,798 17,382 5,076 326,077 13,103 13,160 172,579 33,098 58,453 5,550 147,117 27,803 1,386 12,595 5,084 441 212 2,962 469 4,655 29,671 2,097 250 26,046 754 524 89,644 6,135 35,076 690 167,600 83,134 9,558 41,010 8,967 4,680 1,013 8,921 1,023 7,962 70,431 3,997 624 62,631 1,034 2,145 14,036 2,491 5,695 1,407 2,092 997 162 581 85 66 (D) (D) 12 5 863 175 4 651 20 12 232 (*) 181 2 64,285 30,635 4,024 16,904 3,785 2,561 474 1,802 340 746 30,070 2,212 336 26,063 598 861 3,580 69 876 315 2,811.2 1,011.4 100.6 529.2 158.9 109.7 20.7 59.2 15.0 18.1 1,706.8 95.7 41.5 1,486.1 21.0 62.6 93.0 2.0 10.4 27.8 9,341 11,887 49,124 3,177 (D) 9,269 (D) 37,506 14,645 3,830 11,530 7,501 386,956 72,731 71,114 8,255 24,066 26,932 37,638 12,139 3,182 4,416 48,986 17,879 21,553 11,632 3,476 22,957 922 1,154 5,196 1,172 539 1,374 2,112 6,021 3,233 593 1,210 985 63,714 6,545 12,386 1,164 5,535 3,444 6,702 3,055 547 913 10,669 3,201 5,852 1,649 358 1,692 58,687 16,791 108,596 13,613 16,004 41,371 37,608 102,628 35,760 17,366 39,028 10,474 2,450,105 211,896 490,519 190,562 155,590 30,092 269,021 66,722 16,222 23,365 738,761 85,606 65,144 71,701 16,733 18,171 40,017 7,727 21,104 1,767 4,619 483 14,235 21,863 7,605 2,233 3,253 8,772 276,890 36,306 37,146 37,701 8,196 5,463 19,477 14,739 1,110 2,624 98,393 4,590 4,565 5,541 1,039 (*) -900 5,342 38,614 5,930 8,632 7,709 16,344 41,381 18,415 4,057 16,347 2,562 470,910 61,109 94,574 29,297 53,064 18,087 47,263 20,107 3,967 7,336 80,142 18,191 14,240 14,737 2,847 5,949 49 (*) 185 35 6 88 56 5,143 4,953 42 138 9 21,539 1,049 6,070 263 5,997 38 3,048 678 53 115 2,346 1,078 670 99 25 12 1,295 1,025 7,593 543 944 3,602 2,504 16,871 9,485 2,077 4,308 1,001 188,698 27,581 37,989 12,104 37,016 2,092 25,015 3,722 1,523 3,842 17,924 7,698 5,174 3,414 897 2,707 22.8 30.0 263.3 25.7 9.7 131.7 96.1 171.5 94.0 23.6 37.3 16.6 5,115.6 331.6 1,200.5 132.2 1,733.9 96.4 366.7 160.1 25.7 311.0 199.1 127.2 106.2 176.7 73.2 75.2 293,271 46,729 2,262,234 566,019 473,487 22,813 186,223 2,777.8 (*) A nonzero value that rounds to zero (D) Suppressed to avoid disclosure of data of individual companies. Note. The number of affiliates includes only the affiliates that meet the stated threshold; all other data are for all majority-owned affiliates. U.S. Bureau of Economic Analysis Table 4. Employment of Majority-Owned Foreign Affiliates, Country by Industry of Affiliate, 2022 [Thousands of employees] Manufacturing Of which: All industries (1) All countries Mining Total (2) (3) Food Chemicals Primary and fabricated metals Machinery (4) (5) (6) (7) Electrical Computers and equipment, electronic appliances, and products components (8) Transportation equipment (9) (10) Wholesale trade Retail trade Information Finance and insurance Professional, scientific, and technical services Other industries (11) (12) (13) (14) (15) (16) 14,024.0 201.2 5,292.2 505.7 595.4 224.5 506.7 904.0 170.7 1,109.9 971.7 1,278.9 752.7 861.8 1,789.6 Canada 1,183.0 16.2 266.6 34.7 34.2 15.4 22.5 27.5 6.1 54.2 102.1 352.3 36.1 41.1 83.3 2,875.8 285.4 Europe 4,479.3 46.2 1,725.0 141.1 261.0 94.4 210.8 202.9 42.3 321.2 376.7 263.1 294.6 290.1 420.6 1,063.0 Austria 30.5 (*) 10.9 1.4 2.5 0.9 0.9 1.4 0.1 1.4 4.9 2.7 1.1 1.1 3.2 6.7 Belgium 115.1 0.4 51.8 4.4 19.6 0.7 2.0 3.5 0.7 3.5 12.1 2.0 6.0 6.7 9.2 26.9 Czech Republic 68.4 0.0 44.3 1.7 3.8 2.9 4.4 8.0 0.8 13.3 2.8 1.1 4.4 0.8 3.7 11.4 Denmark 28.5 0.1 12.2 A 2.0 1.2 4.3 1.2 0.0 (*) 3.4 1.0 2.3 0.4 5.3 3.7 Finland 19.5 0.0 9.7 (*) 1.0 0.7 2.8 1.1 0.2 0.1 2.6 0.5 1.5 0.1 2.8 2.4 France 482.0 0.1 160.1 13.8 22.8 9.2 31.3 13.9 2.2 16.6 34.8 16.8 14.5 15.4 34.1 206.1 Germany 637.5 2.2 355.3 10.5 63.6 17.4 51.8 55.5 6.4 77.5 56.5 23.3 27.2 14.0 44.8 114.3 Greece 20.7 0.0 5.7 G 1.1 0.5 (*) 0.1 0.0 0.0 3.6 0.2 0.7 1.4 0.7 8.4 Hungary 61.1 (*) 31.2 1.1 F 0.8 2.6 7.6 0.3 11.0 5.9 0.2 0.8 4.9 11.8 6.2 Ireland 165.5 H 59.8 1.0 17.4 1.0 0.8 11.5 0.6 0.4 9.1 5.5 21.8 20.5 23.0 J Italy 243.7 0.6 104.6 2.5 20.7 4.8 18.0 9.2 5.2 16.3 18.9 9.5 14.1 6.5 18.5 71.1 Luxembourg 27.8 G 14.3 (*) G 0.5 (*) (*) 0.1 0.4 0.3 0.9 2.2 4.0 0.5 H Netherlands 223.3 5.1 96.1 9.6 22.3 3.2 10.9 21.6 1.9 11.9 23.6 6.1 11.2 5.0 20.5 55.6 Norway 35.9 6.3 10.3 0.7 0.9 F 3.8 1.9 0.1 (*) 3.0 0.6 2.7 1.9 2.0 9.1 Poland 232.6 0.1 135.9 30.4 7.1 9.7 9.4 6.1 9.2 43.3 9.4 3.1 4.6 18.0 23.3 38.3 Portugal 35.4 0.0 13.4 1.0 1.5 0.6 0.9 1.7 (*) 5.7 3.2 0.4 2.2 0.8 1.8 13.6 Russia 90.7 2.8 50.2 9.6 3.3 0.7 3.5 1.6 0.1 2.9 11.0 0.4 3.3 4.1 7.4 11.6 Spain 178.2 0.1 72.7 5.3 14.5 5.3 9.6 3.6 1.6 14.5 18.3 6.3 12.1 7.9 16.6 44.1 Sweden 62.6 0.0 29.5 0.5 4.4 2.1 3.9 2.1 0.5 5.9 5.6 1.5 5.8 4.1 4.9 11.1 Switzerland 95.5 G 36.7 1.4 8.7 0.6 3.4 7.5 1.2 0.9 18.0 1.5 8.8 3.3 10.8 J Turkey 57.0 A 33.7 3.9 3.8 0.5 7.2 0.4 0.0 10.4 6.0 0.3 2.6 1.3 1.8 J 1,350.6 15.0 278.0 25.4 32.6 17.0 33.9 37.8 7.8 40.9 112.7 174.6 129.4 159.5 146.2 335.3 United Kingdom Other Latin America and Other Western Hemisphere South America 217.4 5.4 108.6 15.0 4.3 J 5.4 5.8 3.4 44.3 11.1 4.7 15.4 8.5 27.8 35.8 2,811.2 67.3 1,392.4 182.6 112.3 46.8 92.8 107.8 62.9 471.8 125.0 370.7 82.8 155.6 96.7 520.7 241.5 1,011.4 48.4 404.1 89.6 68.5 18.6 K 17.7 15.6 L 55.4 62.7 40.9 106.7 51.8 Argentina 100.6 4.2 43.5 9.6 10.1 0.9 2.8 0.3 0.3 8.5 7.4 1.9 5.1 8.7 6.2 23.6 Brazil 529.2 9.4 284.5 53.7 42.7 15.5 26.6 15.0 15.1 61.8 24.8 9.3 19.6 54.1 31.0 96.6 47.4 Chile 158.9 I 17.3 H 6.5 0.6 0.2 0.9 (*) (*) 4.8 K 9.3 22.8 4.6 Colombia 109.7 13.7 30.1 12.5 4.8 G 0.6 1.3 0.2 0.4 6.2 H 3.8 10.7 6.8 K Ecuador 20.7 0.5 4.2 1.3 0.9 0.0 (*) 0.1 (*) 0.5 3.2 0.4 0.1 1.5 0.1 10.7 Peru 59.2 12.3 8.2 2.3 1.4 (*) 0.2 0.1 0.0 0.0 1.7 (*) 1.0 8.2 1.7 25.9 Venezuela 15.0 0.2 10.9 4.9 1.6 A A (*) 0.0 3.8 G A 0.9 0.2 A 1.2 Other 18.1 G 5.3 G 0.7 0.1 0.0 (*) 0.0 G I F 1.1 0.4 G G 1,706.8 15.9 953.8 90.9 K 27.8 56.5 89.9 47.3 393.4 65.6 304.4 36.5 41.6 41.3 247.6 Costa Rica 95.7 0.0 34.7 H 8.6 A 0.0 H G G 5.5 11 G 2 5.3 K Honduras 41.5 0.1 19.2 G (*) 0.0 0.0 0.2 0.0 H I 1.9 0.1 0.4 (*) J 1,486.1 15.6 865.1 79.0 29.5 26.3 56.4 81.1 46.0 389.0 50.9 277.9 27.5 35.4 35.3 178.4 Panama 21.0 0.2 1.8 0.4 0.8 0.1 (*) (*) 0.0 (*) 0.7 H 0.2 0.7 0.6 J Other 62.6 0.0 33.0 6.1 G G 0.0 H A 0.0 G I I 3.1 0.1 8.1 Central America Mexico Other Western Hemisphere 93.0 3.0 34.5 2.0 H 0.4 I 0.2 (*) G 4.0 3.6 5.4 7.3 3.5 31.6 Barbados 2.0 (*) 0.5 (*) 0.0 0.1 0.3 0.0 0.0 0.0 (*) 0.2 0.0 0.1 (*) 1.2 Bermuda 10.4 0.0 H 0.2 (*) 0.0 H (*) 0.0 0.0 0.4 0.0 A 2.9 0.3 H Dominican Republic United Kingdom Islands, Caribbean 27.8 0.0 22.2 G (*) 0.1 0.0 0.0 (*) G 0.5 1.4 A 0.2 (*) H 22.8 1.1 7.3 0.0 H (*) G 0.1 0.0 0.0 H (*) 0.0 3.3 G 6.5 Other 30.0 1.9 G A 0.5 0.2 0.2 (*) 0.0 (*) A 2 H 0.8 G 17.5 263.3 15.9 126.0 25.3 8.5 0.9 3.6 1.9 4.4 36.0 11.7 K 6.3 12.4 14.1 K 25.7 1.2 14.5 7.1 1.8 0.4 (*) (*) 0.0 0.0 1.4 0.2 0.7 0.6 2.3 4.7 0.4 Africa Egypt Nigeria South Africa Other Middle East Israel 9.7 3.7 4.0 G 0.4 (*) 0.3 0.2 0.2 0.0 0.5 0.0 0.5 0.4 0.2 131.7 0.5 49.2 J 5.5 0.3 3.0 1.6 F I 8.4 K 4.8 7.9 9.9 I 96.1 10.4 58.2 3.6 0.8 0.3 0.2 0.2 H K 1.4 H 0.3 3.4 1.7 J 171.5 14.7 54.5 2.8 4.2 3.3 11.5 22.1 0.4 0.2 7.4 1.0 13.3 7.7 35.4 37.5 94.0 0.3 36.5 0.4 1.3 G 6.3 19.4 0.4 0.2 2.8 0.6 8.9 2.5 22.0 20.3 Saudi Arabia 23.6 7.4 6.1 G 1.5 0.6 0.7 1.0 0.0 (*) 0.8 0.2 0.5 0.4 4.6 3.6 United Arab Emirates 37.3 2.0 9.4 0.4 1.4 0.9 4.5 1.3 (*) (*) 3.5 0.2 3.2 2.8 7.7 8.5 Other 16.6 4.9 2.5 A 0.1 A 0.0 0.3 0.0 0.0 0.3 (*) 0.6 2.0 1.2 5.0 5,115.6 40.9 1,727.7 119.2 175.2 63.7 165.6 541.9 54.7 226.4 348.8 M 319.7 354.8 1,139.6 M 331.6 14.9 68.3 10.3 9.2 4.5 6.4 7.3 1.6 6.1 39.5 21.0 22.6 17.4 46.4 101.5 1,200.5 3.3 661.5 31.5 62.8 31.1 80.5 171.4 32.9 119.7 118.8 94.0 26.3 20.3 67.2 209.0 132.2 (*) 22.4 0.1 3.8 0.9 2.5 4.8 1.4 A 16.5 2.6 3.0 32.3 23.1 32.3 1,733.9 2.1 249.5 10.6 35.4 12.5 36.3 48.3 6.3 50.8 49.1 L 183.0 142.5 849.2 M 96.4 11.2 65.3 26.0 5.8 0.0 H 3.3 0.7 1.1 3.2 0.6 1.8 6.0 1.6 6.7 Asia and Pacific Australia China Hong Kong India Indonesia Japan 366.7 0.0 89.7 1.0 24.4 0.8 7.5 31.6 1.1 4.4 38.4 39.2 13.6 42.5 35.6 107.7 Malaysia 160.1 2.1 118.4 3.1 2.8 1.3 3.5 89.5 G 1.9 6.0 1.1 2.1 7.2 6.4 17.0 25.7 0.2 8.3 2.2 0.9 0.1 0.8 0.6 0.0 0.1 2.4 H 1.4 2.5 1.8 I Philippines 311.0 (*) 68.2 3.5 1.6 G A 44.1 I 3.6 10.4 1.3 38.2 20.1 73.3 99.5 Singapore 199.1 2.3 85.7 1.9 8.4 1.1 7.6 37.1 1.4 6.4 18.8 3.3 11.7 31.5 15.9 29.8 South Korea 127.2 0.1 56.5 0.8 7.4 0.5 5.6 18.5 0.2 13.4 14.1 7.7 3.4 8.9 5.8 30.7 Taiwan 106.2 0.1 55.0 0.8 3.3 1.6 5.1 31.4 0.2 3.9 13.7 I 8.1 7.1 4.8 I Thailand 176.7 2.6 104.5 19.6 5.2 1.2 5.8 41.5 F 14.0 14.9 G 2.9 9.8 2.2 K New Zealand Vietnam 73.2 0.1 58.9 5.2 2.6 H G 11.7 (*) G 1.0 H 0.1 2.6 0.3 I Other 75.2 1.9 15.6 2.6 1.6 0.9 (*) 0.7 (*) 0.0 2.0 0.8 1.5 4 6.2 43.2 2,777.8 15.7 1,289.3 95.2 210.5 72.7 158.3 153.2 33.1 255.1 222.5 84.8 145.9 116.2 239.9 663.6 Addendum: European Union (27) (*) A nonzero value that rounds to zero Note. Size ranges are given in employment cells that are suppressed. The size ranges are: A—1 to 499; F—500 to 999; G—1,000 to 2,499; H—2,500 to 4,999; I—5,000 to 9,999; J—10,000 to 24,999; K—25,000 to 49,999; L—50,000 to 99,999; M—100,000 or more. U.S. Bureau of Economic Analysis