BUSINESS

Subsidiaries of foreign companies employ 1.77 million people in Spain

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The countries that contributed the highest number of subsidiaries were Germany, France and the United States

In 2019, there were 10,663 subsidiaries of foreign companies in the Industry, Commerce and Non-financial market services sectors.

These subsidiaries generated a turnover of 555,688 million euros and employed 1,773,803 people, according to data released by the Spanish statistical office (INE).

Of the subsidiary companies operating in Spain, 43.7% belonged to the Services sector, 36.6% to the Commerce sector and the remaining 19.7% to the industrial sector.

The subsidiaries of the industrial sector generated 44.6% of the total turnover of the subsidiaries, those of Commerce 35.7% and those of the Services sector 19.7%.

In the distribution of employment, the subsidiaries of the Services sector employed the highest percentage of people (44.1% of the total), followed by Industry (30.6%) and Commerce (25.2%).

Turnover by country

The countries whose subsidiaries generated the highest turnover in 2019 were France (18.0% of the total), Germany (14.7%) and the United States (11.5%).

Source: INE.

It should be noted that the 10 main countries concentrated 79.3% of the total number of subsidiaries and 87.1% of the turnover generated by these subsidiaries.

The countries that contributed the highest number of subsidiaries were Germany (13.0% of the total), France (11.6%) and the United States (9.9%).