Activities of multinational enterprises in Canada and abroad, 2023 (actual) and 2024 (preliminary)
Released: 2025-12-09
5.20 million
2024
0.1% 
(annual change)
The number of jobs at foreign and Canadian multinational enterprises (MNEs) operating in Canada edged down 0.1% from a year earlier to 5.20 million in 2024. Together, MNEs accounted for over one in three jobs (36.3%), nearly two-thirds (64.6%) of capital investment and the vast majority of merchandise exports (85.1%) within the Canadian corporate sector.
Outside of Canada, the value of assets held at Canadian majority-owned affiliates abroad rose 3.5% to $9.2 trillion in 2024, while employment (-0.5%) and sales (-1.7%) at these affiliates declined.
Fewer jobs at Canadian multinationals' domestic and foreign operations
Canadian multinationals are highly active with a strong global presence. In 2024, the number of jobs at Canadian majority-owned affiliates outside of Canada declined 0.5% year over year to 2.52 million. Asia and Oceania was the lone region to post an increase (+9,800 jobs), led by affiliates in China and Bangladesh. This growth was wide-ranging, led by the manufacturing sector (+6.7%).
Within Canada, the total number of jobs at Canadian MNEs declined 0.4% to 2.46 million in 2024. An increase in jobs in the finance and insurance sector was offset by an overall decline in most other services-producing industries. Meanwhile, employment at foreign MNEs in Canada grew by 0.2% to 2.74 million. This marked a deceleration in growth, as the number of jobs at foreign MNEs had grown by an annual average of 6.4% over the previous three years. Altogether, while employment at multinationals went down (-0.1%) in 2024, employment at non-multinationals rose (+1.4%).
Infographic 1
Number of jobs at Canadian multinational enterprises in Canada and abroad, by country, 2024
Sales at Canadian majority-owned affiliates abroad down in most regions
Overall, the value of sales at Canadian affiliates abroad decreased 1.7% to $1.71 trillion in 2024, related to declines in both goods-producing (-$25.4 billion) and services-producing (-$4.7 billion) industries. On a geographic basis, sales were down at affiliates in Europe (-$17.2 billion) and North America and the Caribbean (-$12.6 billion), but rose in Africa (+$3.9 billion) and Asia and Oceania (+$0.4 billion).
Within Canada, Canadian MNEs increased their operating revenues by $135.0 billion to $1.62 trillion in 2023, the most recent year for which data were available. The finance and insurance sector largely contributed to this increase.
Meanwhile, foreign MNEs in Canada reported operating revenues of $1.74 trillion in 2023, up $76.0 billion compared with 2022. MNEs from Asia and Oceania (+$34.2 billion), headed by those from Japan (+$26.8 billion), were the top contributors to the growth in revenues.
Chart 1
Year-over-year change in the value of sales at Canadian majority-owned affiliates abroad, by region, 2023 to 2024
One-fifth of sales at Canadian majority-owned affiliates abroad are by those ultimately under foreign control
There are cases where an enterprise in Canada has an immediate investor who is foreign, but the country of the ultimate investor is Canada. This is referred to as "round-tripping" and in such cases, activities are allocated to foreign MNEs for the purpose of the Activities of Multinational Enterprises in Canada program.
The impact of "round-tripping" on foreign MNEs in Canada is relatively small. In 2023, the most recent year for which all data are available, foreign MNEs ultimately controlled by Canadian enterprises accounted for 1.6% of operating revenues, 1.5% of jobs and 4.9% of assets held by foreign MNEs.
Outside of Canada, a Canadian majority-owned affiliate abroad may nevertheless have its ultimate parent based in another country. The activities of this business within Canada are allocated to foreign MNEs, while its activities abroad are considered to be the activities of Canadian MNEs under the Activities of Multinational Enterprises Abroad program.
In 2024, around one-fifth (21.8%) of sales and one-sixth (16.3%) of employment were at Canadian majority-owned affiliates abroad under foreign control. On the other hand, this share was much lower for assets (5.8%) given the high concentration held in the finance and insurance sector, which is largely made up of affiliates under Canadian control.
Multinationals account for the highest share of corporate gross domestic product in Newfoundland and Labrador and Alberta
In 2023, the most recent year for which data are available, Canadian (28.9%) and foreign (25.0%) MNEs were responsible for more than half of Canada's corporate value added (gross domestic product at basic prices). Altogether, MNEs generated $984.7 billion in value added in 2023, down $18.2 billion from the previous year. An increase in the value added by foreign MNEs (+$21.5 billion) was more than offset by a decline among Canadian MNEs (-$39.7 billion). At the same time, the value added generated by non-multinationals went up $49.7 billion.
At the provincial level, Newfoundland and Labrador (62.5%) had the highest share of its corporate value added attributed to MNEs in 2023, followed by Alberta (59.7%). The mining, quarrying, and oil and gas extraction sector, which has a large presence of MNEs, plays an important role in the economies of both provinces.
Chart 2
Share of corporate sector value added, by province or region, by multinational status, 2023
Focus on Canada and the United States
By value, over one-fourth of Canada's goods exports to the United States are by US multinationals
In 2024, US multinationals accounted for 29.3% of Canada's goods exports to the United States. The top product groups exported were crude oil, motor vehicles and refined petroleum products.
Altogether, foreign multinational enterprises (MNEs) were responsible for 56.4% of the total value of Canada's goods exports in 2024. US multinationals were the largest exporter of goods among foreign MNEs, followed by Japanese multinationals.
Approximately 1 in 10 jobs in the Canadian corporate sector are at US multinationals
In 2024, 1.71 million jobs in Canada were at US multinationals, representing 11.9% of corporate sector jobs. The top sectors by number of jobs at US multinationals were retail trade (363,000 jobs) and manufacturing (320,200 jobs).
Outside of Canada, the number of jobs at Canadian majority-owned affiliates in the United States amounted to 1.07 million in 2024, accounting for 42.5% of all jobs at Canadian affiliates abroad. Meanwhile, most of their assets (59.5%) and sales (51.2%) abroad were at affiliates in the United States.
US multinationals account for $265.8 billion in value added in 2023
In 2023, US multinationals generated $265.8 billion worth of value added in Canada, up $11.1 billion from the previous year. Altogether, US multinationals accounted for 14.5% of value added in the Canadian corporate sector. Manufacturing ($71.3 billion) was the sector in which US multinationals generated the most value added, followed by the professional, scientific and technical services sector ($38.2 billion).
For more data and insights on areas touched by the socio-economic relationship between Canada and the United States, see the Focus on Canada and the United States webpage.
Chart 3
Share of Canada's goods exports, by destination and type of enterprise, 2024
Note to readers
New this year
With this release, the Activities of Canadian Multinational Enterprises Abroad program incorporates changes and revisions starting with reference year 2021. The Canada Revenue Agency carried out a major redesign to the T1134 Information Return Relating to Controlled and Non-Controlled Foreign Affiliates, which is a key input to the program. Data revisions were made to integrate updates to the definition of variables, coverage, methodology, values and other reporting requirements. In addition, the primary industrial activities of selected affiliates have also been reclassified to ensure they accurately represent their true operational focus based on the most recent administrative data.
As a result, comparisons between years before and after reference year 2021 should be made with caution. Additional information is available on the program page for Activities of Canadian Multinational Enterprises Abroad.
Release notes
This release integrates analyses from both the Activities of Multinational Enterprises in Canada and the Activities of Canadian Multinational Enterprises Abroad programs under the broad framework of multinational enterprises.
The Activities of Multinational Enterprises in Canada program covers foreign multinationals (enterprises in Canada controlled by a foreign parent) and Canadian multinationals (Canadian-controlled enterprises with a foreign affiliate).
The Activities of Canadian Multinational Enterprises Abroad program covers affiliates abroad that are Canadian majority-owned. The figures represent the total sales, employment and assets of those affiliates. These affiliates also include those who are ultimately controlled by foreign enterprises. As such, a slight share of the worldwide activities of Canadian multinationals can be ultimately controlled from abroad, a common practice at the international level.
To more precisely characterize the activities of Canadian majority-owned affiliates abroad that are ultimately under Canadian control, and to better align concepts between Canadian multinational enterprises' domestic operations and their operations abroad, limited data are now available on the activities of Canadian majority-owned affiliates abroad that are ultimately under foreign or Canadian control.
The Web application "Activities of Multinational Enterprises: Interactive Tool" has been developed to allow users to quickly, easily and efficiently browse these data.
"Canadian majority-owned (foreign) affiliates abroad", "affiliates abroad", "Canadian multinational enterprises abroad" and "affiliates of Canadian multinationals abroad" are used interchangeably.
The most recent reference year for which data are available on Canadian majority-owned affiliates abroad is 2024.
Data on the Activities of Multinational Enterprises in Canada for 2024 are preliminary. Selected activities, including gross fixed capital formation (capital investment), number of jobs and goods exports, are available for this reference year.
The term "employment" represents the "number of jobs" in the Activities of Multinational Enterprises in Canada and Abroad data tables.
In this release, data on the activities of foreign multinational enterprises, by country, are presented on an ultimate investing country basis.
The primary statistical unit used in the analysis of gross domestic product at basic prices is the establishment level. All other variables are presented at the enterprise level.
Unless otherwise specified, all analysis in this release is conducted within the Canadian corporate sector, which excludes the economic sectors of the government, households and non-profit institutions serving households.
Products
The updated Canada and the World Statistics Hub (13-609-X) is available online. This product illustrates the nature and extent of Canada's economic and financial relationship with the world using interactive graphs and tables. This product provides easy access to information on trade, investment, employment and travel between Canada and a number of countries, including the United States, the United Kingdom, Mexico, China and Japan.
The Web application "Activities of Multinational Enterprises: Interactive Tool" is now available.
The Methodological Guide: Canadian System of Macroeconomic Accounts (13-607-X) is available.
The User Guide: Canadian System of Macroeconomic Accounts (13-606-G) is also available. This publication will be updated to maintain its relevance.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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