The tables also include bilateral trade flows by sector.
Below is the excerpt from Timmer et al. (2015).
"The WIOTs are built up from pub- lished and publicly available statistics from national statistical institutes around the world, plus various international statistical sources such as OECD and UN National Accounts." (p. 578)
"[The datasets] provide details for 35 industries mostly at the two-digit ISIC rev. 3 level or groups thereof, covering the overall economy. These include agriculture, mining, construction, utilities, 14 manufacturing industries, telecom, finance, business services, personal services, eight trade and transport services industries and three public services industries." (p. 578)
"In addition to a national input–output table, imports are broken down according to the country and industry of origin in a WIOT. This allows one, for example, to trace the country of origin of the chemicals used in the food industry of country A." (p. 577)
"The values in WIOTs are expressed in millions of US dollars and market exchange rates were used for currency conversion. All transaction values are in basic prices reflecting all costs borne by the producer, which is the appropriate price concept for most applications. International trade flows are accordingly expressed in “free on board” (fob) prices through estimation of international trade and transport margins." (p.578)
According to Timmer et al. (2015), the advantages of the WIOD over other input-output table datasets (such as IDE-JETRO Asian International Input-Output Tables) are:
- Providing time-series data
- Ensuring a high level of data quality by being based on official and publicly available data from statistical institutes
- Based on national supply and use tables (from which national intput-output tables are derived by each country's statistical institute)
- Providing underlying data and statistics (provided as socio-economic accounts)
- Publicly available for free of charge
Data limitations include (see section 4 of Timmer et al. (2015)):
- The country of origin of inputs
- Input-output table for the Rest of the World
- Trades in services
- Intra-firm trades
Used by Fajgelbaum and Khandelwal (2016) to estimate nonhomothetic gravity equation.