Revisiting Trade in a

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Oct 28, 2013 (3 years and 7 months ago)

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Revisiting Trade in a
Globalised
W
orld:

Trade in Value
-
Added

Sébastien

Miroudot

OECD

Washington International Trade Association panel, ‘Does America Win in a Global

Economy? A Look at Global Value Chains’, Washington DC, 20 March 2012

What is trade in value
-
added?

2


Three sets of issues:


Multiple counting of intermediate goods and services


What are the actual trade patterns?


Who contributes to the value chain in terms of income
and employment?

Why is it important?

1.
Trade, growth and employment

2.
Global imbalances

3.
Resisting protectionism

4.
Managing macro
-
economic shocks

3

The OECD
-
WTO co
-
operation


OECD and WTO have signed an agreement for developing trade statistics in value
-
added
terms.

The objectives are:


Produce and disseminate trade statistics in value added


Define a methodology for measuring trade in value
-
added based on best practices
learned from all past and present experiences


P
roduce a publicly available database of trade flows estimated in value
-
added terms
using the inter
-
country input
-
output tables of OECD, including some non
-
OECD
members, and determine a methodology for the regular updating of this data set


Support and sustain research in the related fields


B
uild
-
up and sustain a network of relevant multilateral and national institutions
active in relevant fields, including academic and research institutes.


Investigate in co
-
operation with those other relevant stakeholders the remaining
statistical issues, in particular in relation to trade in services as well as other
relevant balance of payment concepts


Promote evidence
-
based trade policy making


P
romote a dialogue between experts and policy makers on the implications of global
value chains and the potential of measuring trade in value added for international
and national policies

4

5

Source: OECD ICIO tables

Does this matter in practice?

Preliminary results: gross exports and share of

domestic value
-
added (2005)

6

Foreign content share of China’s exports

7

OECD
study

on the
mapping

of global value
chains
:

some

stylised

findings

1.
Increasing

importance of
GVCs


2.
Larger

versus
smaller

countries


3. Not
only

Asia
, but
also

NAFTA and EU


4.
Emerging

economies

integrating

GVCs

and
specializing

in inputs

8

Average length of GVCs (2005)

1
1.2
1.4
1.6
1.8
2
2.2
2.4
1995
2000
2005
International
Domestic
Source:
OECD ICIO model, indicator based on
Fally

(2011)

9

Length of GVCs, by industry (2005)

10

1
1.2
1.4
1.6
1.8
2
2.2
2.4
2.6
2.8
3
Domestic
International
Source:
OECD ICIO model, indicator based on
Fally

(2011)

For more information


Visit

our

website
:
www.oecd.org/trade/valueadded




Contact us:
tad.contact@oecd.org




Follow

us on
Twitter
:
@
OECDtrade


Trade and Agriculture
Directorate

11