Worldwide employment by U.S. multinational enterprises (MNEs) saw a slight decrease in 2023, according to preliminary statistics released by the U.S. Bureau of Economic Analysis (BEA). The total number of workers employed by these enterprises dropped 0.4 percent to 43.9 million, down from a revised figure of 44.1 million in 2022.
In the United States, employment at U.S. parent companies declined by 0.8 percent to 29.9 million workers, accounting for 68.1 percent of global MNE employment, compared with 68.3 percent the previous year. Overseas, foreign affiliates of U.S.-based MNEs increased their workforce by 0.2 percent to reach 14 million employees, representing 31.9 percent of worldwide employment.
U.S. parents made up 21.9 percent of all private industry jobs within the country in 2023, a drop from the previous year’s share of 22.5 percent. Most domestic MNE jobs were concentrated in manufacturing; “other industries,” including transportation and warehousing; and retail trade sectors. Abroad, majority-owned foreign affiliates had the largest numbers of employees in India, Mexico, and the United Kingdom.
The report also found that worldwide current-dollar value added generated by U.S.-owned MNEs fell by 0.6 percent to $6.9 trillion in 2023. Value added—a measure reflecting direct contribution to gross domestic product—by U.S.-based parent companies decreased by one percent to $5.3 trillion and accounted for just over one-fifth (21.4 percent) of total private-industry value added domestically, down from 23.1 percent in the prior year.
Meanwhile, majority-owned foreign affiliates’ value added rose slightly by 0.8 percent to $1.6 trillion last year, with top contributions coming from operations based in the United Kingdom, Canada, and Ireland.
Capital spending showed an increase: expenditures on property, plant, and equipment globally reached $1.1 trillion—up seven and a half percent—with U.S.-based parents responsible for $886 billion and foreign affiliates contributing $216 billion.
Research and development spending among these multinationals also grew seven and a half percent globally in 2023 to reach $558 billion overall; U.S.-based parents invested nearly $477 billion while their majority-owned foreign affiliates spent about $82 billion on R&D.
The BEA has made additional statistics available online covering sales figures, financial statements, employee compensation details, international trade data and more through its website’s interactive data application.
“Statistics for 2022 were revised to incorporate newly available and revised source data,” stated the BEA release regarding updates from prior years’ estimates.
Further detailed tables breaking down industry- or country-specific figures are accessible via BEA’s comprehensive data resources online.