International Trade Forum

Frequency
Irregular
ISSN: 
1564-5304 (online)
http://dx.doi.org/10.18356/1216c6be-en
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The International Trade Forum is the magazine of the International Trade Centre (ITC). It focuses on trade promotion and export development, as part of ITC’s technical cooperation programme with developing countries and economies in transition. The magazine is published quarterly since 1964 in English, French and Spanish.
Article
 

Creating value in an interconnected world - The role of services You do not have access to this content

English
 
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Author(s):
Angel Gurría
31 Jan 2014
Pages:
3
Bibliographic information
No.:
3,
Volume:
2014,
Issue:
1
Pages:
7–9
http://dx.doi.org/10.18356/7cec2e66-en

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Global trade is undergoing rapid change through a fragmentation of production processes and the integration of emerging economies into the global market. A key factor in the expansion of global value chains (GVCs) is the role played by services activities. There would be no GVCs if well-functioning transport, logistics, finance, insurance, communication and other business services did not move goods, people and knowledge along the value chain. It is through services that companies coordinate and link stages of production. The OECD-World Trade Organization database on Trade in Value Added reveals that services account for over 30% of the value created in manufacturing value chains.