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.”
- Under Armour defends questions over strategy
- Cheap polyester contributes to cotton import shift
- TPP trade pact in milestone signing by 12 nations
- Combating the new normal – 10 trends for 2016
- Gap deepens social and environmental efforts
- Bangladesh factory fire renews worker safety fears
- Syrian refugee children found in Turkish factories
- China factory activity continues to deteriorate
- Key Bangladesh safety issues still not fixed
- Southeast Asia – a strategic sourcing review
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- E-Textiles: Electronic Textiles 2014-2024