Eurostat has published a new set of economic indicators because of the new needs created by the globalisation of the world economy. Five aspects of economic globalisation have been identified: international trade, foreign direct investment (FDI), employment, the value added of MNEs and the internationalisation of technology.
Twelve indicators in total are included in the framework: imports of goods and services as % of GDP, exports of goods and services, export/import ratio; inward FDI stocks as % of GDP, outward FDI stocks as % of GDP, FDI flows intensity; employment in foreign controlled enterprises as a share of total domestic employment, employment development in foreign controlled enterprises, employment development in foreign affiliates; R & D expenditure in foreign controlled enterprises as a share of total R & D expenditure; value added in foreign controlled enterprises as a share of total value added and value added development in foreign controlled enterprises.
The Europe 2020 initiatives included having an industrial policy for the globalisation era to support the development of a strong and sustainable base to compete globally. These indicators are an essential part of making the policy effective.
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