Insee Focus · November 2023 · n° 311

In 2021, French multinational firms generated half of their turnover abroad

In 2021, French multinationals (excluding the banking subsidiaries and non-commercial services sectors) controlled 51,000 subsidiaries abroad. These subsidiaries generated half of the firms’ consolidated turnover and employed 6.9 million people. The large multinationals (over 5,000 employees or more than 1.5 billion euros in turnover) were dominant, comprising 43% of the subsidiaries and generating 83% of the total consolidated turnover achieved abroad. Half of these firms were established in at least 12 foreign countries. One French subsidiary in four was established in the United States, Germany or the United Kingdom. Of the employees working for subsidiaries in the sales sector, a relatively high proportion worked from Brazil and Spain.