5 Million Jobs and $197 Billion generated by MNCs in Canada, 2023

Highlights: Increase in the jobs and revenue by Canadian multination enterprises; StatCan

• According to StatCan, the multinational enterprises in Canada generated 5 million jobs and $197 billion revenue.
• The capital investment saw an increase from $30.4 billion to $305.2 billion, and most of the investments were made in the non-residential construction. 

• Canadian enterprises overseas saw an increase in sales by $1 trillion and an increase of $138.9 billion in domestic operations.

 

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Data of the multinational enterprises in Canada

Multinational enterprises operating in Canada demonstrated a high growth with a capital investment of 9.0% reaching an impressive $197 billion. These multinational enterprises, both foreign and domestic have played an important role in boosting the Canadian economy.

Recent data on the multinational enterprises operations shows a positive report, with increase in employment of 5.2% which is 5 million jobs, and sales surpassing $1 trillion which is a total of 6.7%.

 

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Canadian multinational enterprises and capital investment growth

The gross fixed capital formation, also known as capital investment, saw a remarkable rise from $30.4 billion to $305.2 billion, which is the second consecutive increase. Notably, Canadian multinational enterprises outpaced the foreign MNEs, with an increase of $26.5 billion.

Canadian MNEs invested mostly in the non-residential construction with a focus on quarrying, mining, oil, and gas extraction sectors. The provinces of Ontario and Alberta saw the highest investments, with $32.5 billion investment in Ontario, and $30.9 billion investment in Alberta.

Multinational corporations now employ more people, reaching 4.95 million jobs in Canada.

 

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Canadian enterprises overseas import and export goods valued at over $1 trillion

The value of MNEs foreign merchandise trade saw a substantial 23.9% growth, and is predicted to reach almost $1.2 trillion. MNEs imported $560.3 billion worth of good, which is an increase of $98.2 billion. Canadian MNEs reported 16.1% of imports, while foreign MNEs accounted for 58.1%.

The total value of goods exported reached $616.7 billion, with the mining, quarrying, and oil and gas extraction industries in Alberta contributing significantly to the year-over-year increase. The growth in sales by Canadian enterprises overseas increased and reached $1 trillion. Canadian MNEs saw an increase of $138.9 billion in sales from its domestic operations of multinational enterprises.

 

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Web Story: 5 Million Jobs and $197 Billion generated by MNCs in Canada, 2023