The expansion in international trade has been accompanied by the integration of production activities across borders, both through the expansion of multinational firms and the complex production chains that link firms specialising in different production stages across countries (Chart 3).
Chart 3 Global value chain participation (foreign value added as a percentage of gross exports)  Sources: UNCTAED EORA database and ECB staff calculations.Notes: The global value chain participation figure for 2018 is based on now-casting. The sample includes 190 countries.