This paper analyses the role of services in international trade through the lens of global value chains (GVCs). Services account for more than 70% of world GDP but only for around 20% of world trade in balance of payments terms. In value added terms, accounting for services embodied in exported...

The import content of exports (ICE) is defined as the amount of foreign input embodied in one unit of export, and it has been used as a measure of the degree of integration into the global production network. In this paper, we suggest an alternative measure based on the decomposition of gross...

The import content of export (ICE) has served as an indicator of global integration for several decades. It is defined as the share of imported products embodied in exports and can be interpreted as the relative degree of the utilization of global production network (GPN) over the domestic...