November 16, 2023
Report finds strong expansion of global value chains but warns of increased vulnerability
Global value chains (GVCs) continued to expand in 2022, as indicated by the growing share of foreign inputs in exports and the increasing participation rates of economies worldwide. This bodes well for spreading the benefits of trade to more firms, workers and developing economies, according to the GVC Development Report 2023 issued on 16 November. However, the report also flags increasing risks from the dependence on a small number of economies for certain products and highlights the vulnerability of GVCs to rising trade tensions and global crises.
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