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The Belgian economy in global value chains. An exploratory analysis

Author

Listed:
  • C. Duprez

    (National Bank of Belgium, Research Department)

  • L. Dresse

    (National Bank of Belgium, Research Department)

Abstract

Data on global value chains are shedding new light on foreign trade. Since exports largely rely on intermediate imports, breaking up exports into foreign and domestic value-added content allows for a more comprehensive understanding of the foreign trade and the national accounts statistics. After describing the conceptual framework, the paper presents some exploratory findings on the Belgian economy. Most notably, it stresses that re-exportation of merchandise and the value added content provided by service sectors are of great importance for industrial exports. The analysis also makes it possible to better identify the initial origin of inputs used in goods manufactured for export as well as the goods’ final destination.

Suggested Citation

  • C. Duprez & L. Dresse, 2013. "The Belgian economy in global value chains. An exploratory analysis," Economic Review, National Bank of Belgium, issue ii, pages 07-21, September.
    • Handle: RePEc:nbb:ecrart:y:2013:m:september:i:ii:p:07-21
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    File URL: https://www.nbb.be/en/articles/belgian-economy-global-value-chains-exploratory-analysis-1
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    References listed on IDEAS

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    Cited by:

    1. René Belderbos & Vincent Van Roy & Leo Sleuwaegen, 2021. "Does trade participation limit domestic firms’ productivity gains from inward foreign direct investment?," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(1), pages 83-109, March.
    2. LOPES, Joao Carlos & SANTOS, Ana, 2016. "Vertical Specialization, Global Value Chains And International Trade: The Rubber And Plastics Industry In Portugal And Comparison With Northern And Southern Eu Countries," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 16(2), pages 15-28.
    3. João Amador & Robert Stehrer, 2014. "Portuguese Exports in the Global Value Chains," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    4. Amador, João & Cabral, Sónia, 2014. "Global value chains: surveying drivers and measures," Working Paper Series 1739, European Central Bank.
    5. C. Duprez, 2014. "Creating export value. An analysis of Belgium," Economic Review, National Bank of Belgium, issue ii, pages 23-38, September.
    6. João Carlos Lopes & Ana Santos, 2015. "Vertical Specialization, Global Value Chains and the changing Geography of Trade: the Portuguese Rubber and Plastics Industry Case," Working Papers Department of Economics 2015/12, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    7. João Amador & Sónia Cabral, 2014. "Global Value Chains: Surveying Drivers, Measures and Impacts," Working Papers w201403, Banco de Portugal, Economics and Research Department.
    8. Dominik Kohut & Martina Jiránková, 2023. "Obchod s pridanou hodnotou medzi Čínou a USA [Trade in Value Added Between the USA and China]," Politická ekonomie, Prague University of Economics and Business, vol. 2023(1), pages 1-22.
    9. Anatolijs Prohorovs, 2023. "Re-Export: Assessing the Impact of Re-Export Companies on Sectors and the Economy," JRFM, MDPI, vol. 16(2), pages 1-25, January.

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    More about this item

    Keywords

    global value chains; exports; globalisation;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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