The WTO released on 9 May an updated set of profiles for 64 WTO 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.
The profiles draw from data in the OECD's Trade in Value-Added (TiVA) database and provide an update to the profiles previously released three years ago. An explanatory note provides definitions of the indicators shown in the profiles and guidance on the data differences between the two releases. The full list of profiles can be found here.
"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", WTO Chief Economist Robert Koopman said. "An economy, in short, often relies on imports in order to export and this should help guide policymakers amid the recent rise of trade restrictions."
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 profile also quantifies the economy's level of participation in GVCs as a supplier and buyer of intermediate products, indicating the top trading partners. The contribution of the services sector to trade in value-added terms and the value of its exports and imports of intermediate products for merchandise and services are also covered.
A new set of profiles showing trade in value-added terms by sector will be released later this year.