Global employment at U.S. multinational corporations rose 2.2 percent to 44.3 million workers in 2022 (preliminary) from 43.3 million workers in 2021 (revised), according to statistics released today by the U.S. Bureau of Economic Analysis on the operations and finances of U.S. parent companies and their overseas subsidiaries.
Employment in the United States by American parents increased 2.5% to 30.2 million workers in 2022 (Table 1). American parents accounted for 68.3% of global employment by American multinationals, up from 68.1% in 2021 (Chart 1). Overseas employment by majority-owned foreign subsidiaries of American multinationals increased 1.5% to 14.0 million workers and accounted for 31.7% of employment by American multinationals worldwide.
American parents accounted for 22.6% of total private sector employment in the United States in 2022, down from 23.1% in 2021. Employment by American parents was largest in manufacturing, retail, and “other industries,” led by transportation and warehousing. Overseas employment by majority-owned foreign affiliates was largest in India, Mexico, and the United Kingdom (Table 4).
Global value added in current dollars by U.S. multinationals rose 4.4% to $7.0 trillion. Value added by U.S. parent companies, a measure of their direct contribution to U.S. GDP, rose 4.3% to $5.3 trillion (Table 1). U.S. parent companies accounted for 23.3% of total U.S. private industry value added, down from 24.5% in 2021. Value added by majority-owned foreign affiliates increased 4.6% to $1.6 trillion (Chart 2). Value added by majority-owned foreign affiliates was largest in the United Kingdom, Canada, and Ireland (Table 3).
Global expenditures on property, plant, and equipment by U.S. multinationals rose 11.4 percent to $1 trillion. U.S. parent companies’ expenditures were $826.1 billion (Table 1), and majority-owned foreign subsidiaries’ expenditures were $196.7 billion (Chart 3).
Global R&D spending by U.S. multinationals rose 10.8 percent to $521.5 billion. U.S. parent companies spent $448.9 billion (Table 1), while majority-owned foreign subsidiaries spent $72.6 billion (Chart 3).
Additional statistics on the activities of U.S. parent companies and their foreign subsidiaries, including sales, balance sheet and income statement items, employee compensation, trade in goods, and more, are available on the BEA website. Additional industry details for U.S. parent companies and additional industry and country details for foreign subsidiaries are also available on the website.
Statistics updates
The 2021 statistics have been revised to include newly available and revised source data (Table A). The preliminary 2021 statistics were released in November 2023 and are highlighted in “Activities of U.S. Multinational Enterprises in 2021” in the Current Business Survey in December 2023.
Table A. Statistics Updates on the Activities of U.S. Multinational Corporations in 2021 (billions of dollars, except as noted)
Parents in the United States are majority owned.
primary foreign subsidiaries
revised estimate
Initial estimate
revised estimate
Estimated number of employees (in thousands) 29,520.5 29,502.7 13,807.3 13,813.2 Value added 5,066.2 5,090.0 1,576.4 1,571.9 Expenditure on property, plant and equipment 728.8 730.2 188.6 187.9 Research and development expenses 402.7 401.1 69.9 69.4
US Bureau of Economic Analysis
Next release: August 2025
Multinational Corporations Activities in the United States, 2023
