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In 2008, asset, revenue and profit shares under foreign control in Canada declined. Slower growth for foreign-controlled enterprises pulled their asset share down to 20.3% from 21.6% posted in 2007. The share of revenues under foreign control went down to 29.0% from 29.6% for the previous year. Led by losses in the financial sector, profit shares also decreased to 24.9% from their 2007 value of 26.5%.

The share of assets under foreign control held steady at 27.6% in the non-financial industries, while the share of revenues fell to 29.9% from 30.5% in 2007. Losses in the motor vehicle and parts and the wood and paper manufacturing industries drove the non-financial foreign-controlled profit share down to 26.9% from 28.7% for the previous year.

In the finance and insurance industries, foreign-controlled shares accounted for 21.2% of revenues and 19.5% of profits compared with 21.8% and 21.4% respectively for 2007. The share of assets under foreign control shrank from 15.7% in 2007 to 13.5% in 2008, led by declining assets in the "Other Financial" industries.

U.S.-controlled firms continued to dominate the shares of assets, revenues and profits under foreign-control. In 2008, these firms increased their profit share to 55.7% from 54.3% for the previous year, mainly from oil and gas profits. However, their shares of assets decreased to 53.5% from 55.5% in 2007 and revenues declined to 58.7% from 58.9%.