Historically, foreign ownership was a political issue in Canada in the late 1960s and early 1970s, when it was believed by some that U.S. investment had reached new heights (though its levels had actually remained stable for decades), and then in the 1980s, during debates over the
Free Trade Agreement. However, the situation has changed; since in the interim period, Canada itself became a major investor and owner of foreign corporations. Since the 1980s, Canada's levels of investment and ownership in foreign companies have been larger than foreign investment and ownership in Canada. In some smaller countries, such as
Montenegro, Canadian investment is sizable enough to make up a major portion of the economy. In
Northern Ireland, for example, Canada is the largest foreign investor. By becoming foreign owners themselves, Canadians have become far less politically concerned about investment within Canada. Something to note is that Canada's largest companies by value, and largest employers, tend to be foreign-owned in a way that is more typical of a developing nation than a
G8 member. The best example is the
automotive sector, one of Canada's most important industries. It is dominated by American, German, and Japanese automotive giants. Although this situation is not unique to Canada in the global context, it is unique among G8 nations, and many other relatively small nations also have national automotive companies. In 2004, foreign-controlled corporations accounted for 21.9% of assets held in Canada, and 30.0% of operating revenues yet comprised less than 1% (approx. 8,000) of the total 1.3 million corporations in Canada. Assets of foreign-controlled corporations rose 8.3% to $1.1 trillion in 2004, while those of Canadian-controlled corporations rose 8.9% to $3.9 trillion. All in all, foreign-controlled profits soared to a record $68 billion that year, up 21.7% from 2003. Also that year, foreign-controlled corporations operating revenues in Canada averaged $96 million, compared with less than $2 million for their Canadian-controlled counterparts. In 2006, 34 Canadian companies were purchased by foreign interests worth $62 billion, nearly 4% of Canada's
market value.
Statistics In 2016, foreign affiliates accounted for 14% of Canada's
gross domestic product and employed 12% of workers. That year, foreign affiliates in the
manufacturing sector accounted for 41% of the
value added of foreign
multinationals operating in Canada, an increase from 38% in 2010. ==Existing foreign-owned companies in Canada==