Is value added re-shored, near-shored or friend-shored?

We examine the latest trends in the geographical distribution of value added of final demand and production chains of the US, EU and China based on recently published international input-output tables extending to 2024. Both in final demand and in production chains the share of domestic value added tended to increase during the Covid-19 pandemic but then turned again to decline. In many cases the share of domestic value added has declined even to a lower level than in the beginning of the time period. Our analysis of geographical shifts of imported value added points to some signs of ”near-shoring” and potential ”friend-shoring” for all the economies, but the trends are not unambiguous.