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

Highlights: MNCS in Canada generated 5 million jobs opportunity

• In 2022, MNCs generated 5 million job opportunities and $197.1 billion in capital investment.
• Export and import services for merchandise goods went up to $1 trillion.
• Most of the additional investment happened in Alberta and British Columbia.
• Canadian MNEs' employment increased in professional, scientific, and technical services and manufacturing sectors. 

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Details of increased capital expenses in Canadian multinational OutSpace:

Capital investment is also known as Gross fixed capital formation. The capital investment increased by $30.4 billion in 2022 to $305.2 billion. Canadian and foreign MNCs will make nearly two-thirds of the capital investment in the corporate sector by 2022.

 

The investment is made mainly in the transport and warehousing and mining, quarrying, and oil and gas extraction sectors. Most of the additional investment happened in Alberta and British Columbia. In 2022, Ontario and Alberta had the largest count of capital investment.  

 

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Employment at the multinational company:

2021 the employment rate hit 4.73 million, whereas the pre-pandemic level was 4.74 million in 2019. Employment continues to grow in 2022 to 4.95 million.

 

In foreign companies, employment went up to:

• 7.3% in 2021
• 5.9% in 2022

 

The employment is mostly in professional, scientific, technical services, and manufacturing sectors.

 

Meanwhile, the employment at the affiliated abroad of Canadian MNEs rose to 85,000 in 2021 and reached 1.73 million.

 

The Multinational Company's Export and Import Growth:

The international merchandise trade by MNEs increased by 23.9% in 2022 and reached nearly $1.2 trillion.

 

The value of goods imported by MNCs went up to $98.2 billion in 2022, reaching $560.3 billion. The foreign MNCs in Ontario alone went up to +$ 50.8 billion, which increased over half of the trade.

 

In 2022, nearly three-fifths (58.1%) of foreign MNEs imported around one-sixth (16.1%) of Canadian MNEs' imports.     

 

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Growth in Sales by Canadian Multinational in Canada:

In 2021, sales by affiliated abroad of Canadian MNEs went up to $65.3 billion (+6.7%) and later surpassed $1 trillion.

 

In 2021, Canadian MNEs increased their sales by $138.9 billion (+12.5%).

 

In 2014, the growth of Canadian multinational sales at domestic operations was more significant than the growth at their affiliates abroad.

 

The increase in sales by domestic operation of Canadian MNEs was led by the mining, quarrying, and oil and gas extraction led by +$41.7 billion and +$35.7 billion sectors led the manufacturing.

 

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