The World Trade Organization (WTO) has released an updated set of profiles for 64 of its members, revealing the share of domestic and foreign components in the exports of these economies and their participation in global value chains (GVCs).
The profiles also shed light on the contribution of the services sector to trade and the value of trade in intermediate products for each of the economies covered by the profiles.
With the new profiles all available at www.wto.org, the countries concerned include Australia, Bulgaria, Canada, China, Germany, India, Malaysia, the Netherlands, Russia, Singapore, Spain, the United States and the UK.
WTO Chief Economist Robert Koopman explained: "These profiles offer a deeper understanding of the interconnectedness of economies by decomposing gross trade figures into their value-added components and drawing attention to the cross-border exchange of parts and components taking place within GVCs.”
An economy often relies on imports in order to export, he went on, and this should help guide policymakers amid the recent rise of trade restrictions.
The profiles draw from data in the Organisation for Economic Co-operation and Development’s (OECD's) Trade in Value-Added (TiVA) database and provide an update to the profiles previously released three years ago. Explanatory notes providing definitions of the indicators shown in the profiles can be found at www.wto.org.
Each profile starts by displaying the share of domestic and foreign components in the economy's total exports and how these have changed between 2005 and 2015 (the latest year available in the TiVA database).
Breakdowns are provided of the top export industries and top export destinations for each economy. The profiles also quantify the economy's level of participation in GVCs as a supplier and buyer of intermediate products, indicating the top trading partners.
A new set of profiles showing trade in value-added terms by sector will be released later this year.
Last reviewed 15 May 2019