Global value chain

A global value chain (GVC) refers to the full range of activities that economic actors engage in to bring a product to market.^[1] The global value chain does not only involve production processes, but preproduction (such as design) and postproduction processes (such as marketing and distribution).^[1]

GVC is similar to Industry Level Value Chain but encompasses operations at the global level. GVC is similar to the concept of a supply chain, but the latter focuses on conveyance of materials and products between locations, often including change of ownership of those materials and products.^[2] The existence of a global value chain (i.e. where different stages in the production and consumption of materials and products of value take place in different parts of the world) implies a global supply chain engaged in the movement of those materials and products on a global basis.