Multinational groups in Belgium – Structure and economic activity

A macro-economic analysis of the activity of multinational groups is of particular interest for economic policy in a country like Belgium with a longstanding tradition of openness to foreign investment. This working paper combines a database of enterprise groups that are active in Belgium with industry-level data from the national accounts to show that multinational groups play an important role in the Belgian economy. Together, foreign affiliates and firms that are part of a Belgian multinational group account for more than 40% of GDP, 25% of total employment and 75% of exports.