One of the main stylised facts that has emerged from the recent literature on global value chains is that bilateral trade imbalances in gross terms can differ substantially from those measured in value added terms. However, the factors underlying the extent and sign of the differences between...

In this paper, unit values and unit value ratios in bilateral manufacturing trade across all countries in the world are analysed over the period 1998-2014. Descriptive evidence of price differences across country groups and groups of manufacturing industries according to technology intensity is...