Eu commission trade statistics by country
Create account Login Subscribe. Processing trade has been credited as a key driver of Chinese export performance but has been largely overlooked in Europe. Processing trade may thus require further reflection eu commission trade statistics by country how best to maximise its benefits for EU's external competitiveness.
But for those interested in an accurate picture of globalisation, the year has a lot to offer, from product-specific 'screwdriver analyses' of iPods Dedrick et al. Beyond these diverse approaches to look into global value chains, one particular lens through which global production chains can be looked at is the so-called processing trade. Processing trade - the process through which companies sources intermediate inputs from various countries and assemble them in another for consumption in third markets - has been credited with a large role in the impressive export performance of China over the last decade.
Processing trade is a special trade regime whereby imports and exports of intermediate and final products can be traded duty free and thus benefit from the 'global value chain' logic. Kee and Tang Could the share be as high in Europe? The use of this special trade regime in the EU is not widely known. Processing trade has two main variants - outward and inward processing trade. The EU legislation allows for processing trade flows to be recorded separately at customs. These statistical regimes are briefly summarised below:.
This is not trivial and eu commission trade statistics by country surprising given the little attention paid so far by researchers and policymakers. The US seems to be the most important actor in both EU inward- and outward-processing imports and exports.
Perhaps surprisingly, despite its relatively large share as a destination for EU inward-processed exports, China has a low share in EU processing trade, eu commission trade statistics by country to other emerging economies. Machinery and mechanical appliances account for a large share However, other sectors are far more dependent on processing-trade. For instance, one third of certain tobacco products are imported under the inward-processing trade regime. This suggests that inward-processing is extremely important for some sectors.
One important sector is motor vehicles. It accounts for almost half Processing trade is also crucial for the overall exports of the sector itself. This brief analysis points to some potentially interesting conclusions or questions that may deserve further reflection.
First, processing trade is a special trade regime that is inter alia aimed at boosting EU competitiveness. This is especially true for some sectors such as the automotive sector. The relative importance of processing trade suggests that alongside strong 'Made in Europe' exports, there are also non-negligible 'Assembled in Europe' exports.
As for a handful of sectors such duty-free processing trade represents a large share of their overall trade activity, it will be important to factor this into the overall analyses of the impact of various recent trade policies such as EU trade agreements and non-tariff barriers.
Also, understanding the firm-specific factors involved in processing trade may provide additional insights on how to promote the internationalisation of small enterprises through processing trade.
Finally, a 'fitness test' of various trade rules and customs procedures governing processing trade could identify 'best practices' and guidelines that would put economic operators on a level playing field across Europe. The views expressed therein are those of the authors and do not necessarily reflect the views of the European Commission.
Dedrick, Jason, Kenneth L. A look at the EU special trade eu commission trade statistics by country Beyond these diverse approaches to look into global value chains, one particular lens through which global production chains can be looked at is the so-called processing trade.
These statistical regimes are briefly summarised below: Goods exported definitively, or goods imported and released into free circulation in the EU customs territory; Imports or exports under inward-processing procedures: Intermediate goods are imported duty-free temporarily so that they can be further processed assembled or transformed and then all the resulting processed products are exported outside Europe.
Imports or exports under outward-processing procedure: Intermediate goods are temporarily exported for further processing in a non-EU country and the processed products are re-imported into the EU. The imported processed products benefit from a full eu commission trade statistics by country partial exemption from custom duties and levies. Geographical distribution of EU processing trade Key sectors in processing trade: The role of supply chains Machinery and mechanical appliances account for a large share Some tentative conclusions This brief analysis points to some potentially interesting conclusions or questions that may deserve further reflection.
References Dedrick, Jason, Kenneth L. Chief Trade Economist of the European Commission. Working hours, political views, and German reunification. Globalisation, government popularity, and the Great Skill Divide. Spring Meeting of Young Economists Eu commission trade statistics by country Forecasting with Large Datasets. Homeownership of immigrants in France: Evidence from Real Estate.
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