Dec 10 -- BEA is developing data to provide a more complete and nuanced view of U.S. trade to analyze the evolving structure of international trade. The new data will help analyze global value chains – increasingly complicated supply chains that link many countries together to produce a good or service.
For example, an airliner exported from the United States might combine U.S.-made parts with wings from Japan, passenger doors from France, landing gear from England, and other components built elsewhere. Likewise, U.S. industries provide goods and services used in other countries’ exports.
In the first milestone of this ongoing project, BEA released prototype data on trade in value added for the years 2007-2020, with distinct tables for trade with China, Europe, Mexico, Canada, and Rest of World. These new data tables can be used to answer questions such as: What are the domestic and imported inputs used to create a U.S. industry’s exports? How do U.S. industries contribute to different global value chains?
These new statistics represent completion of the first major milestone at the end of the first year in a 3-year collaboration with the National Science Foundation. An in-depth review of the data providing an analysis of the TiVA statistics and trends will be published in a later white paper.
In 2022, BEA will explore increasing industry detail from 81 to 140 industries with a continued focus on R&D intensive industries and information communication technology. This will further enhance analysis of TiVA statistics by allowing a more granular view of industrial linkages.
In 2023, BEA will begin exploring expansion of the statistics to the level at which BEA publishes its quinquennial benchmark tables—approximately 400 industries. In addition to expanded industry detail, BEA will also explore increasing the number of regions presented in the results.
BEA is also researching the preparation of extended supply-use tables to account for firm heterogeneity within U.S. industries. This effort is focused on disaggregating industries within the supply-use framework into domestically controlled multinational enterprises (MNEs), foreign-controlled MNEs, and non-MNEs. Once completed, the TiVA framework will be expanded to incorporate these new data as well.
BEA GVC webpage: https://www.bea.gov/data/special-topics/global-value-chains
Data spreadsheet: https://www.bea.gov/system/files/2021-12/Download-data-for-all-years-2007-2020_0.xlsx
BEA invites comments from users on the methodology and data presentation and suggestions on where BEA should focus future industry and regional expansions. Users may send their feedback to GVC@bea.gov