A country's exports of goods and services are the yardstick against which the external competitiveness of its economy is generally measured. However while in the past the export basket largely comprised goods and services produced by the exporting country, this is less the case nowadays. Two of...

The liberalisation of trade and finance, the reduction in transport costs and progress in the field of information and communication technologies have brought about profound changes in the international environment. As a result, the interpenetration of economies has increased sharply, and this...

Data on global value chains are shedding new light on foreign trade. Since exports largely rely on intermediate imports, breaking up exports into foreign and domestic value-added content allows for a more comprehensive understanding of the foreign trade and the national accounts statistics....