Economics · International Trade
With reference to participation in Global Value Chains (GVCs), consider the following statements: 1. Backward GVC participation measures foreign value added embedded in a country's exports. 2. Forward GVC participation measures domestic value added used in other countries' exports. 3. Higher GVC participation automatically ensures a positive trade balance. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 and 2 only✓
- 22 only
- 31 only
- 41, 2 and 3
Correct answer
1 and 2 only
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