Seems like the long quoted estimate of 60% of world trade being between related parties is now out of date.
70% of world trade is now apparently between related parties according to discussion here this afternoon.
And not one penny, cent or yen of this appears in the accounts of multinational corporations — which is precisely why we need country-by-country reporting if they are to reflect the economic realities of the world.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Richard
Sorry if I am being obtuse, but doesn’t this figure include trade between sepereate multinationals rather than just within multinationals? That’s the way I read your headline anyway
James
Apologies for my drafting – it’s been a long day
This is intra-group not inter group trade i.e. internal trade
Which shows how far globalisation has gone in breaking down products anbd shipping them unnecessarily
And what the trade in services has created
Hi! I´m a swedish freelance journalist aiming to do an article about this. Where is the OECD source of this information? Is there a link?
@Lars Ahnland
Sorry – there is none – it was a platform comment – I assume well founded
Ok, do you know with who I should speek to at OECD?