Frankfurt am Main, November 3, 2022 – Total revenue of the TOP 50 U.S. companies in Germany amounted to around EUR 218.4 billion in 2021 – around 15 percent more than in 2020. Growth was distributed differently among the sectors of the economy. Services and trade (+27.7%) and raw materials, energy and chemicals (+24.9%) recorded above-average growth; companies in these sectors benefited from the economic recovery after Corona. By contrast, the automotive sector recorded a decline (-6.1%) due to weak demand in the German automotive market and supply problems for semiconductors and chips. The total employee headcount of the TOP 50 U.S. companies has virtually remained unchanged (2021: approx. 275,000 employees; 2020: approx. 275,500 employees; change: -0.2%).
Positive assessment of Germany as a business location declines slightly
Overall, the largest U.S. companies in Germany give the German market a rating of 2.4 (2021: rating 1.9). This is the result of a survey conducted by AmCham Germany in September 2022. For the year ahead, the market receives an advanced rating of 2.7. Above all, the uncertain supply and sharp rise of costs for energy and raw materials are currently hindering an all too positive outlook. For most of the surveyed U.S. companies, the biggest challenge in Germany over the next three years is the shortage of skilled workers.
"The trend in the location assessment proves that the government must improve the economic framework conditions so that Germany remains competitive in the future. In particular, energy prices must be brought to a level that enables companies to compete internationally, with as much regulation as necessary and as much competition as possible,’’ says Simone Menne, President of AmCham Germany.
Strengthening transatlantic sovereignty – for greater competitiveness, resilience, and responsiveness of the economy
The current crisis calls for the expansion of the transatlantic partnership. The largest U.S. companies in Germany rate the partnership between Germany and the United States as stable and strong. In the near future, the transatlantic ties are expected to become even more important.
Simone Menne, President of AmCham Germany, also emphasizes this: "In view of the current geopolitical challenges, we must strengthen the competitiveness, resilience and responsiveness of the transatlantic economy. This is how we will succeed in protecting democracy and freedom, securing prosperity and jobs, and driving forward digitalization and ecological transformation."
"Even if the recoveries in 2021 on the transatlantic axis have caused reciprocal direct investments to rise, the U.S. and German economies are confronted with several challenges: In the face of massive disruption from the pandemic and war, companies must increase their resilience by understanding their own transformation as digitally driven, continuous and multidimensional. This is the only way to meet the challenges of our time – from resource scarcity to shifts in global supply chains to the ongoing shortage of skilled workers," says Christina Raab, Vice President of AmCham Germany.
Further information to download:
• Brochure: TOP 50 U.S. Companies in Germany
• Fact Sheet: TOP 50 U.S. Companies in Germany
About the TOP 50 ranking:
The TOP 50 ranking of AmCham Germany annually lists the largest U.S. companies in Germany and subsidiaries of American parent companies with more than 50% American capital in Germany, measured by revenue in the previous year. The classification criterion for revenue is net revenue, i.e. revenue without value-added tax. The mineral oil and tobacco taxes are an exception. The information either originates directly from the companies or is based on sound estimates by AmCham Germany and the consulting firm Accenture. Companies for which no substantiated estimate is possible were not included in the ranking.
