Global Value Chain Development Report 2023

Resilient and Sustainable GVCs in Turbulent Times

The Global Value Chain (GVC) Development Report 2023 explores approaches to build resilient and sustainable GVCs. It provides an overview of the most recent trends in GVCs, assesses the effects of recent trade tensions and the COVID-19 pandemic on GVCs, and illustrates changes in the nature of supply chains. It also analyses the challenges of climate change to GVCs and proposes policy options for enhancing inclusive development through GVC participation.

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, the Report finds. However, it 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.

The report is a joint publication by the Asian Development Bank (ADB), the Institute of Developing Economies — Japan External Trade Organization (IDE-JETRO), the Research Institute for Global Value Chains at the University of International Business and Economics (UIBE) Beijing, and the World Trade Organization.

Published in 2023.

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