Commodity prices and linkages in global value chains in Latin America, 1998-2018

Vázquez-López, Raúl

doi:10.1590/19805527252907

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Artículos • Rev. Econ. Contemp. 29 • 2025 • https://doi.org/10.1590/19805527252907 linkcopy

Commodity prices and linkages in global value chains in Latin America, 1998-2018

Authorship SCIMAGO INSTITUTIONS RANKINGS

ABSTRACT:

This paper aims to analyze, in the light of commodity price fluctuations, the evolution of the integration of selected Latin American countries (Argentina, Brazil, Colombia, Chile, Mexico and Peru) into global value chains (GVCs) during the period 1998-2018. Based on information from the Organisation for Economic Co-operation and Development (OECD) global input-output linkages, backward and forward linkages as well as participation and positioning in GVCs, are calculated for the selected cases, using a mathematical decomposition of exports in terms of added value. The representation of the positioning trajectories in GVCs for each country over time shows evidence of inertial behaviors dependent on commodity price fluctuations. The conclusion is that the integration of Latin American countries into GVCs has been limited mainly due to the reprimarization of the economies and the absence or failure of industrialization policies.

KEYWORDS:
Global Value Chains; Latin America; Commodities; Input-output; Reprimarization

		1998			2008			2018
	Sector	Exportaciones	Participación	VAD	Exportaciones	Participación	VAD	Exportaciones	Participación	VAD
Argentina	Agrícola y extractivos	8,406	26	95	23,511	29	83	16,250	22	87
	Industria	14,360	44	87	33,717	42	75	32,335	43	76
	Servicios	9,685	30	94	22,948	29	85	26,524	35	86
	Total	32,451	100	91	80,176	100	80	75,108	100	82
Brasil	Agrícola y extractivos	15,540	25	79	79,927	35	78	115,069	42	77
	Industria	31,792	52	79	101,706	44	71	91,464	34	70
	Servicios	13,927	23	92	50,025	22	88	64,834	24	88
	Total	61,260	100	82	231,658	100	77	271,367	100	77
Chile	Agrícola y extractivos	9,027	44	87	39,966	54	76	47,353	56	84
	Industria	5,432	26	81	17,335	24	69	20,095	24	77
	Servicios	6,233	30	79	16,450	22	68	17,414	21	84
	Total	20,692	100	83	73,751	100	73	84,863	100	82
Colombia	Agrícola y extractivos	7,790	58	88	23,876	54	87	26,410	50	84
	Industria	3,321	25	78	12,111	28	78	12,693	24	76
	Servicios	2,235	17	91	7,826	18	87	13,205	25	86
	Total	13,346	100	86	43,813	100	85	52,308	100	83
México	Agrícola y extractivos	13,164	10	93	67,804	22	91	63,202	13	83
	Industria	88,976	68	66	184,543	60	59	326,428	68	54
	Servicios	28,158	22	92	55,138	18	93	90,228	19	91
	Total	130,299	100	74	307,484	100	72	479,858	100	65
Perú	Agrícola y extractivos	3,685	49	90	22,358	61	83	30,720	58	84
	Industria	1,744	23	82	7,433	20	73	8,951	17	76
	Servicios	2,155	28	86	6,786	19	84	13,730	26	85
	Total	7,584	100	87	36,578	100	81	53,401	100	83
Región	Agrícola y extractivos	57,613	22	88	257,442	33	83	299,004	29	81
	Industria	145,625	55	72	356,845	46	65	491,967	48	61
	Servicios	62,393	23	91	159,174	21	87	225,934	22	88
	Total	265,631	100	80	773,461	100	76	1,016,905	100	73

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[1] Fuente de datos: Elaboración propia con base en datos de Organización para la Cooperación y el Desarrollo Económico (2024).