About 1% of companies in Flanders are foreign-controlled, a study by the Flemish region’s Economy, Science and Innovation Department reported on Monday.
In 2020, these 6,554 companies accounted for more than €57.7 billion in gross added value, and had 399,594 employees.
The relatively small number of foreign companies contribute disproportionately to the Flemish economy, the study points out.
Nearly 21.6% of private salaried employment in the non-financial market economy in Flanders and 34% in Flemish industry depend on foreign-controlled companies.
Over 35% of value added in the non-financial market economy in Flanders and 53% in Flemish industry is created by these companies.
The foreign presence differs from sector to sector. The (petro)chemical and pharmaceutical industries, for example, are almost entirely foreign-owned, while foreign involvement is virtually non-existent in agriculture and the timber industry.
The United States appears to be Flanders’ most important partner in terms of gross value added, while the number one slot, in terms of employment, goes to the Netherlands.
