The following image demonstrates the value added structure of EU exports – and can be seen as an indicator of EU28 participation in GVCs. It provides a more varied perspective of EU28 exports than a normal gross trade flow figure.
Strong export competitiveness does not necessarily mean strong income growth. According to the ECB, gross export figures overestimate the competitiveness of countries who rely on imported semi-finished products. The ECB states that real gross exports of manufacturing products from Germany increased by 98 %, while manufactured GVC income increased by 7 %.