The share of Canadian assets under foreign control is declining
Released: Friday, October 3, 2025
The share of Canadian businesses owned by foreign-controlled enterprises fell to 14.4% in 2023, continuing a decline that has been underway since 2010. According to Statistics Canada’s report Corporations Return Act, 2023, the portion of Canadian assets held by foreign companies dropped by 0.3 percentage points from the previous year. This decline was largely driven by the faster growth of Canadian-controlled businesses compared with their foreign-controlled counterparts.
In total, enterprises from 93 countries maintain ownership stakes in Canada. However, nearly 90% of all foreign-owned assets are concentrated in just eight countries. The United States leads by a wide margin, with American-owned businesses holding more than half of all foreign-owned assets in Canada.
Data for the above chart comes from Statistics Canada Table 33-10-0570-01 Foreign-controlled enterprises in Canada, by financial characteristics and selected country of control.
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