Critical import dependencies
Mapping how increased specialisation and optimisation of global value chains expose firms to global uncertainty, disruptions and price increases.
During the COVID-19 pandemic, the economies worldwide were tested on resilience. The crisis highlighted that disruptions in global value chains can affect supply of essential products and inputs that are particularly critical for the EU economy. One of the key lessons of the pandemic is that we need to get a better grip and understanding of where Europe’s current and possible future strategic dependencies lie.
In terms of policy, a mapping of critical import dependencies can support the development of appropriate measures to address such strategic dependencies while safeguarding an open and trade-based EU economy. For private firms, knowledge about import dependencies supports more resilient sourcing decisions, diversification strategies and risk management.
Implement Consulting Group has assessed the import dependency of three European countries by applying the methodology developed by the European Commission. The assessed countries are Sweden (EU member country) and Norway/Switzerland (EEA member countries). While all three countries are dependent on imports from third countries (non-EU countries), the EEA countries are also dependent on imports from the EU.
Accelerating growth via Google Cloud.
Implement Consulting Group