Share of Imports and Commodities in Consumption and Investment in the United States

Galina Hale and Bart Hobijn

Chapter 6 in Uncovering Value Added in Trade:New Approaches to Analyzing Global Value Chains, 2015, pp 101-112 from World Scientific Publishing Co. Pte. Ltd.

Abstract: We use input–output data to compute the share of imports and commodities in personal consumption and fixed investment in the United States (US). We show that for the US, a large high-income economy, the shares of local content and of non-commodity content are rather small in categories that are not directly related to commodities or imported goods. Overall, about 82% of expenditures by US consumers go to goods that are made entirely domestically and from domestic imports. Our measures represent an upper bound on the computed shares of imports from a specific region, because we use a conventional, rather than a value added, measure of trade flows.

Keywords: Trade; Global Value Chains; Production Networks; Input-output Method; Trade Statistics; Trade Measurement; Trade in Value-Added; Domestic Value-Added; Production Fragmentation; Global Assembly; Trade Relations; Foreign Direct Investment; Manufacturing (search for similar items in EconPapers)
Date: 2015
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