In today’s increasingly globalised world, exports and imports are key aggregates in the analysis of a country’s economic situation. Whenever an economy slows down or accelerates, all other economies are potentially affected through trade linkages.

For the majority of countries, international merchandise trade flows have grown steadily over the long term. However, in the recent years since the economic crisis, trade growth has remained flat, raising questions about the role of international trade as a driver of growth, and whether the slowdown is structural or pro-cyclical.

International trade in services is growing in importance both among OECD countries and in the rest of the world. Traditional services – transport, insurance on merchandise trade, and travel – account for about half of international trade in services, but trade in newer types of services, particularly those that can be conducted via the Internet, is growing rapidly.

Trade in value added data are statistical estimates of the source(s) of the value (by country and industry) that is added in producing goods and services for export (and import). It recognises that growing global value chains mean that a country's exports increasingly rely on significant intermediate imports (and, so, value added by industries in upstream countries). The consequence of the significant growth in global value chains is a multiple counting of trade in intermediates that may distort trade policy analysis.

The data on Trade in Value Added (TiVA) highlight the significance of intermediate imports used in producing goods and services for export in many economies. They emphasise that being competitive on international markets requires access to the most efficient inputs – either domestically produced or imported – and that tariffs on imports can harm the competitiveness of downstream exporters. The data also stress the important role played by upstream services in producing exports of goods, and, so, the importance of ensuring that producers have access to the most efficient services (again either domestically produced or imported).

Foreign direct investment (FDI) is a key element in international economic integration. FDI creates direct, stable and long-lasting links between economies. It encourages the transfer of technology and know-how between countries, and allows the host economy to promote its products more widely in international markets. FDI is key to the creation of many global value chains by allowing firms to link and organise production across countries. FDI is also an additional source of funding for investment and, under the right policy environment, can be an important vehicle for development.

Foreign direct investment (FDI) is a key element in international economic integration. FDI creates direct, stable and long-lasting links between economies. It encourages the transfer of technology and know-how between countries, and allows the host economy to promote its products more widely in international markets. FDI is key to the creation of many global value chains by allowing firms to link and organise production across countries.

Foreign direct investment (FDI) is a key element in international economic integration. FDI creates direct, stable and long-lasting links between economies. It encourages the transfer of technology and know-how between countries, and allows the host economy to promote its products more widely in international markets. FDI is also an additional source of funding for investment and, under the right policy environment, it can be an important vehicle for development.

The current account balance is the difference between current receipts from abroad and current payments to abroad. When the current account balance is positive, the country can use the surplus to repay foreign debts, to acquire foreign assets or to lend to the rest of the world. When the current account balance is negative, the deficit will be financed by borrowing from abroad or by liquidating foreign assets acquired in earlier periods.