Commerce Issues First Set of Data for Global Value Chains Project
The Commerce Department’s Bureau of Economic Analysis recently published its first set of data in an ongoing project to help the U.S. better analyze international trade. The agency released “prototype data on trade in value added,” which it said can…
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help government and industry determine which domestic and imported inputs are most used to create U.S. exports. The data, released in December, can also be used to determine the ways in which U.S. industries contribute to different global value chains, BEA said. The agency said the prototype data represents the “first milestone of this ongoing project,” which it expects will “provide a more complete and nuanced view of U.S. trade to analyze the evolving structure of international trade.'”