Cyprus recorded Europe’s lowest share of value added by foreign-controlled businesses at 13.4% and was below the EU average of 25%, according to latest Eurostat data.
Among EU Member States, the countries with the highest shares of value added by foreign-controlled enterprises in 2016 were Hungary (51.4%), Slovakia (48.1 %) and Luxembourg (44.6%).
In contrast, four EU Member States had shares under 20%: Cyprus (13.4%), Italy (15.8%), Greece (16.3%) and France (16.4 %).
In 2016, 1.2% of enterprises in the European Union were foreign-controlled. They accounted for 15.3% of EU employment and 25% of the value added in the non-financial business economy.
Between 2010 and 2016, the share of value added by foreign-controlled enterprises in the EU rose by 2.3 percentage points.
Statistics on the structure and activity of foreign affiliates (FATS) provide information that can be used to assess the impact of foreign-controlled enterprises on the European economy. The data may also be used to monitor the effectiveness of the internal market and the gradual integration of economies within the context of globalisation.
Source: Financial Mirror