Foreign affiliates brought €5.5 trillion to the EU
Joshua Hoehne, Unsplash
In 2022, companies controlled by countries outside the European Union generated €5657 billion in net turnover, representing 14.7% of the total turnover of all EU businesses (€38,494 billion). At the same time, non-EU companies controlled by EU residents generated a turnover of €6526 billion.
The countries with the highest contribution to net turnover outside the EU are:
- US: €2,030 billion (31.1%);
- UK: €770 billion (11.8%);
- China: €570 billion (8.7%);
- Mexico: €190 billion (2.9%);
- Canada: €181 billion (2.8%);
- Australia: €132 billion (2.0%).
At the same time, the turnover of EU enterprises controlled by countries outside the bloc is led by:
- USA: €2,474 billion (43.7%);
- UK: €900 billion (15.9%);
- Switzerland: €580 billion (10.3%);
- Japan: €429 billion (7.6%);
- South Korea: €156 billion (2.8%);
- China: €150 billion (2.7%);
- Norway: €140 billion (2.5%).
Sanctions and the unstable situation in Eastern Europe in 2022 had a significant impact on Russian and Ukrainian enterprises under EU control. The turnover of Russian companies under EU control fell by 20% compared to 2021, while the turnover of Ukrainian companies fell by 34%.
