Since the 1970s, the global economic geography underwent major transformations of its production processes. One of the most important causes was the increasing internationalization and segmentation of production, giving rise to what are known as “global value chains” (GVCs). The aim of the paper is to explain the main changes in GVCs since the 1990s, identifying the countries and sectors that are most active in GVCs and whose participation has increased the most since the 1990s in absolute and relative terms; and to analyze whether or not there is a relationship between economic development and participation in CGVs.