Abstract
AbstractThis paper explores the role of services in international trade and global value chains, and adds to our knowledge on recent trends in globalisation. We employ indicators for trade in value‐added (VA) and for gross exports, and address the following two questions: (i) has trade ofVAin services (i.e., theVAcreated by domestic service industries and embodied in foreign consumption of final products) grown more than trade ofVAin manufacturing; and (ii) does trade ofVAin services travel further than trade ofVAin manufacturing. Based on the World Input‐Output Database (WIOD), we find, in general, that for the period 2000–14, the share of services in exports ofVAgrew over time, whilst the share of manufacturing remained constant (or grew relatively less). Second, throughout the entire period, services had a larger share in interregional exports ofVAthan in intraregional exports ofVA, whilst the opposite was true for manufacturing. Services were thus more global than manufacturing.
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