US: Value-added trade "increasingly vital"
Traditional customs-based trade statistics are increasingly complicated by the growing trend of global production sharing, says a new report from the Manufacturers Alliance for Productivity and Innovation (MAPI).
Instead, tracing value-added trade along global value chains to source countries and source industries helps to quantify a country’s competitiveness, reports “A Value-Added Perspective on US International Trade”.
MAPI economist Yingying Xu said recently published data from the OECD and WTO now made it possible to analyse US international trade patterns in traditional and value-added terms.
In 2009, while US manufacturing and services made up 61% and 34% of gross exports respectively, these figures changed to 42% and 52% in value-added terms.
Value created by services accounted for 27% of total domestic value-added in US gross manufactured exports in 2009, the report adds.
“This is no surprise considering that many services are needed to provide links in GVCs [global value chains] and improve the efficiency of production,” said Xu.
“Services therefore become a significant source of domestic content for exported manufactured goods and are about evenly split between business services and administrative services.”
- Low labour cost countries linked to highest risks
- Why should brands care about China cotton?
- UK reshoring hub hit by sweatshop claims
- New fibre and fabric innovations for outdoor wear
- China cotton: implications and opportunities
- South Africa to grow grass for recyclable textiles
- US West Coast port contract reached
- 30% of Adidas cotton from sustainable sources
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Outdoor performance apparel: peaks, valleys, and green fields
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Global market review of swimwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide