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

Highlights: MNCs in Canada grant 5 Million Jobs in 2023!

• StatCan reports reveal that nearly 5 Million people were employed by Multinational companies in Canada.
• The MNCs have been said to generate almost $197 Billion in Capital Investments.
• The most recent data shows that $1 trillion+ of merchandise goods were imported and exported in 2023.
• The capital investment by Canadian MNCs has increased from $30.4 billion in 2022 to $305.2 billion in 2023.

 

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Activities of MNCs and MNEs in Canada

Below is the list of activities of Canadian MNCs and MNEs compared to foreign MNEs.

 

Increase in Capital Investment:

The capital investment, also known as the gross fixed capital formation, has increased from $30.4 billion in 2022 to $305.2 billion in 2023. Foreign MNEs, along with Canadian MNEs, contributed to two-thirds of capital investment in the corporate sector in 2022.

Year	Increase in Investments
2021	$9.4 billion
2022	$9.1 billion

 

The sectors that largely contributed to the investments are as follows:

• Transportation and warehousing
• Mining, quarrying sector
• Oil and gas extraction sector

 

Employment in MNCs:

The Canadian MNEs nearly granted 5 million jobs at the end of 2022. Recent data shows that Canadian MNCs' employment of overseas affiliates surged to 1.73 billion.

The sectors that had the most job openings in foreign MNEs are as follows:

• Scientific sector
• Professional sector
• Technical services sector
• Manufacturing sector

 

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Import and Export of Goods:

International merchandise trade value increased by 23.9% in 2022, reaching over $1 Trillion by the end of the year.

• The good import value by MNEs rose by $98.2 billion in 2022, reaching $560.3 billion.
• The value of goods exports by MNEs rose by $129.2 billion in 2022, reaching $616.7 billion.  

 

Hike in Sales:

The sales by Canadian MNE affiliates abroad rose to $1 trillion from $65.3 billion in 2021. Affiliates operating from Germany and the U.S. majorly contributed to the increase in sales.

The sales by Canadian MNEs rose to $138.9 billion from $100.3 billion. Mining, quarrying, manufacturing, and oil and gas extraction largely contributed to the increase in sales by domestic operations of MNEs.

 

Also Read…

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